Drug Discovery Outsourcing Market Overview, Growth, and Oppotunities by 2031

MARKET INTRODUCTION

As the process of new drug discovery is getting more expensive and time consuming most of the pharmaceutical and biotech market players are focusing on outsourcing solutions. Generally, drug discovery outsourcing solution comprised of development and testing of pipeline drug molecules. Pharmaceutical companies are increasingly outsourcing research activities to academic and private contract research organizations (CROs) in order to stay competitive in market. Market for drug discovery outsourcing is likely to gain considerable traction over the next few years owing to advantages offered by outsourcing such as a decline in time for drug development and expanding the number of high-quality compounds.

MARKET DYNAMICS

Drug discovery outsourcing market is driving due to factors such as lengthy and costly affairs of drug discovery process and burdensome process that requires dedicated and skilled manpower, financial resources, and infrastructure. Since past few decades, the pharmaceutical industry has witnessed radical changes in terms of a shift toward biologics, patent expiration, and unprecedented downsizing of internal discovery of big pharmaceuticals. All these factors are responsible for driving the drug discovery outsourcing market. However, factors such as, high price of the drug discovery outsourcing & increasing risk of the drug failure is expected to hamper the market growth.

MARKET SCOPE

The Drug discovery outsourcing market analysis to 2031 is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of Drug discovery outsourcing market with detailed market segmentation by Drug type, therapeutic area and service type. The Drug discovery outsourcing market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading players in Drug discovery outsourcing market and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The Drug discovery outsourcing market is segmented on the basis of Drug type, therapeutic area and service type. Based on drug type, the market is segmented as Small Molecules, Large Molecules (Biopharmaceuticals).Based on therapeutic area, market is segmented as Respiratory System, Pain and Anesthesia,Oncology,Ophthalmology,Hematology,Cardiovascular,Gastrointestinal,Immunomodulation, Anti-Infective, Dermatology, others. Based on service types, the market is segmented into target identification & screening, target validation & functional informatics, lead identification & candidate optimization, preclinical development, others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the Drug discovery outsourcing market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The Drug discovery outsourcing market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting Drug discovery outsourcing market from both demand and supply side and further evaluates market dynamics affecting the market during forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the Drug discovery outsourcing market in these regions.

MARKET PLAYERS

The report covers key developments in the Drug discovery outsourcing market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Drug discovery outsourcing market are anticipated to have lucrative growth opportunities in the future with the rising demand for Drug discovery outsourcing in the global market. Below mentioned is the list of few companies engaged in the Drug discovery outsourcing market.

The report also includes the profiles of key players in Drug discovery outsourcing market along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

•  Albany Molecular Research Inc.
  
•  EVOTEC
  
•  Laboratory Corporation of America Holdings
  
•  GenScript
  
•  Pharmaceutical Product Development, LLC
  
•  Charles River
  
•  WuXi AppTec
  
•  QIAGEN
  
•  Thermo Fisher Scientific Inc.
  
•  Dalton Pharma Services
  

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.

Drug Discovery Outsourcing Report Scope