Outsourced Drug Discovery Market Scope
The pharmaceutical companies are progressively outsourcing research activities to private and academic contract research organizations (CROs) as a method to stay competitive and flexible in exponentially growing knowledge, gradually refined technologies and an uneven economic environment. It is getting more expensive to develop new drugs, competition from generics is increasing, investors expect double-digit growth, complaints from consumers and payers about excessive drug prices are more strident, and the number of new drugs reaching the market each year is below expectations.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Charles River (United States), EVOTEC (Germany), Laboratory Corporation of America Holdings (United States), GenScript, Merck & Co., Inc. (United States), Thermo Fisher Scientific, Inc. (United States), Oncodesign (France), Albany Molecular Research, Inc. (United States), Dalton Pharma Services (Canada), Pharmaceutical Product Development, LLC (United States), DiscoverX Corporation (United States), Bioduro LLC (United States) and Syngene International Ltd. (India) |
CAGR | 7.6% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Outsourced Drug Discovery market throughout the predicted period.
Charles River (United States), EVOTEC (Germany), Laboratory Corporation of America Holdings (United States), GenScript, Merck & Co., Inc. (United States), Thermo Fisher Scientific, Inc. (United States), Oncodesign (France), Albany Molecular Research, Inc. (United States), Dalton Pharma Services (Canada), Pharmaceutical Product Development, LLC (United States), DiscoverX Corporation (United States), Bioduro LLC (United States) and Syngene International Ltd. (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Sundia Meditech Co. Ltd. (China) and WuXi AppTec (China).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Outsourced Drug Discovery market by Type , by Application (Oncology, Ophthalmology, Hematology, Immunomodulation, Anti-Infective Drugs, Dermatology, Neurology, Cardiology and Others) and Region with country level break-up.
On the basis of geography, the market of Outsourced Drug Discovery has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In January 2022, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. entered into a collaboration agreement with Insilico Medicine, an end-to-end artificial intelligence (AI)-driven drug discovery and development company to advance the discovery and development of drugs targeting a number of different targets globally through the use of AI technology.
In December 2023, Merck launched its AIDDISON™ drug discovery software. This software-as-a-service platform integrates virtual molecule design with real-world manufacturability through Synthia™ retrosynthesis software application programming interface (API) integration.
Influencing Trend:
Increasing Trend of Outsourcing Manufacturing and R&D Activities to Countries such as China and India and Rapidly Adoption of the Artificial Intelligence and Deep Learning Technology
Market Growth Drivers:
Growing Number of CRO, CMOs, and CDMOs in Emerging Countries and Rising Demand for the Biological Drugs
Challenges:
Unknown Regulation Complications and Duplication Problems
Restraints:
High Capital Investment for the Drug Discovery Settings
Opportunities:
Rising Demand of Small Molecule Drugs for Treating Chronic Diseases and Increasing Healthcare Expenditure in the Developing Economies
Key Target Audience
Drug Discovery Outsourced Providers, Pharmaceutical Industry, Biotechnological Companies, Governmental Bodies, Downstream Vendors and Others