Drug Discovery Outsourcing Market Demand and Growth Analysis with Forecast up to 2030

Wilmington, Delaware, United States, Transparency Market Research Inc.: The global drug discovery outsourcing market was valued at ~US$ 4.5 Bn in 2019. It is projected to expand at a high CAGR from 2020 to 2030. Drug discovery contract research organizations (CROs) are engaged in offering a range of research services on a contract basis to pharmaceutical and biotechnology companies for drug discovery.

Rise in demand for drug discovery outsourcing can be attributed to the increase in focus of pharmaceutical companies on research and development and rise in focus on the development of novel drugs to meet the unmet clinical needs in various therapeutic areas including cancer, neurological disorders, and chronic diseases.

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Drug Discovery Outsourcing Market: Segmentation

The global drug discovery outsourcing market has been segmented based on service type, drug type, therapeutic area, and region

In terms of service type, the global drug discovery outsourcing market has been categorized into biological services, chemical services, lead identification & screening, lead optimization, and others. The chemical services segment dominated the global drug discovery outsourcing market, in terms of value, in 2019. However, the biological services segment is likely to expand at a high CAGR during the forecast period.

Based on drug type, the global drug discovery outsourcing market has been classified into small molecules and large molecules. The small molecules segment dominated the drug discovery outsourcing market in 2019 and is likely to remain dominant in the forecast period. In terms of therapeutic area, the global drug discovery outsourcing market has been divided into respiratory system, anti-infective, oncology, cardiovascular, gastrointestinal, central nervous system, immunomodulation, and others. Oncology segment dominated the global drug discovery outsourcing market in 2019.

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Drug Discovery Outsourcing Market: Regional Segmentation

In terms of region, the global drug discovery outsourcing market has been classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

North America dominated the global drug discovery outsourcing market in 2019, and the trend is expected to continue during the forecast period. Expansion of the drug discovery outsourcing market in the region can be attributed to an increase in focus on discovering medicines for the treatment of rise in pandemic, which has resulted in drug discovery outsourcing to companies equipped with AI technology. Additionally, an increase in investments in research & development (R&D) by large pharmaceutical and biotechnology companies and their focus on streamlining internal costs leading to the drug discovery outsourcing process fuels the market.

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The drug discovery outsourcing market in Asia Pacific is anticipated to expand at a high CAGR from 2020 to 2030. Expansion of the drug discovery outsourcing market in the region can be attributed to an increase in focus of pharmaceutical companies on the region as a favorable site for drug discovery outsourcing processes.

Drug Discovery Outsourcing Market: Major Players

Key players operating in the global drug discovery outsourcing market include

  • CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
  • WuXi AppTec Co., Ltd.
  • Albany Molecular Research Inc. (AMRI)
  • GVK Biosciences Private Limited
  • Sygnature Discovery
  • Pharmaron Beijing Co., Ltd
  • WuXi Biologics (Cayman), Inc.
  • Domainex Ltd.
  • Thermo Fisher Scientific, Inc.
  • Jubilant Biosys Ltd.
  • Evotec SE
  • Eurofins Discovery,
  • GenScript Biotech Corporation

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The market players in the drug discovery outsourcing market have been adopting inorganic growth strategies to consolidate their position in the global drug discovery outsourcing market. For instance, in February 2020, Charles River acquired Citoxlab for US$ 510 Mn. Citoxlab is a non-clinical CRO company that specializes in regulated safety assessment services, nonregulated discovery services, and medical device testing. In January 2018, Spectris acquired Concept Life Sciences from Equistone Partners Europe. Concept Life Sciences is the U.K.-based provider of drug discovery, development, analytical testing, and environmental consultancy services drug discovery and development services.

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