Global Drug Discovery Outsourcing Market to Reach $6.6 Billion by 2030
The global market for Drug Discovery Outsourcing estimated at US$4.3 Billion in the year 2023, is expected to reach US$6.6 Billion by 2030, growing at a CAGR of 6.4% over the analysis period 2023-2030. Lead Identification & Candidate Optimization Workflow, one of the segments analyzed in the report, is expected to record a 8.2% CAGR and reach US$3 Billion by the end of the analysis period. Growth in the Preclinical Development Workflow segment is estimated at 5.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.1 Billion, While China is Forecast to Grow at 10.2% CAGR
The Drug Discovery Outsourcing market in the U.S. is estimated at US$1.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2030 trailing a CAGR of 10.2% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 5.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$945.5 Million by the year 2030.
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