Drug Discovery Outsourcing Market Introduction and Overview
According to SPER Market Research, the Global Drug Discovery Outsourcing Market is estimated to reach USD 8.59 billion by 2033 with a CAGR of 7.71%.
The report includes an in-depth analysis of the Global Drug Discovery Outsourcing Market, including market size and trends, product mix, applications, and supplier analysis. The term "drug discovery outsourcing" refers to a strategy employed by several businesses to lower drug development expenses by contracting out some of the job to outside vendors. The first stage of the drug development process is known as drug discovery outsourcing, during which time operations in a variety of domains, including product production and drug discovery, can be outsourced. It is the process used to discover novel medications or pharmaceuticals in a variety of industries, including biotechnology, pharmacology, and pharmaceuticals. Outsourcing drug development leads to the discovery of novel medications or therapies in the biotechnology, pharmaceutical, and pharmacology fields.
- June 2020: AstraZeneca and Accent therapies partnered in June 2020 to create and market therapies that target RNA-modifying proteins in the fight against cancer.
- June 2022: Berkeley Lights, Inc. (Nasdaq: BLI), a pioneer in digital cell biology, and Curia, a top contract research, development, and manufacturing organization (CDMO), announced that Curia would be utilizing Berkeley Lights' Beacon® Optofluidic system and workflows to expedite and enhance its antibody-based drug discovery capabilities.
Market Opportunities and Challenges
One of the key reasons driving the growth and demand of the drug discovery outsourcing market is the increasing trend of collaborations in drug discovery research worldwide. The rising incidence of genetic, metabolic, and other chronic illnesses as well as technological developments in medication discovery are also driving the expansion of the worldwide market. Additionally, the market is growing due to the growing use of AI in drug development, as well as the quick transition toward biologics, patent expiration, and the historically large reduction in internal discovery at large pharmaceutical companies. Growing rates of medication and antibiotic resistance will also guarantee rapid industry expansion.
Existence of Drug Discovery Software Packages in Open-Source Format, Drug discovery is an expensive and time-consuming procedure. As a result of the tremendous momentum that in silico computational chemistry and molecular modeling have garnered in computer-aided drug creation, these techniques are being applied widely to find new molecules. Even if open-source software offers lower prices and more freedom, it seriously jeopardizes income creation. These platforms restrict the use of licensed software and versions, which hinders the expansion of the market. Open-source suppliers view licensing as the start of enduring partnerships wherein all parties collaborate to improve product efficacy and facilitate client success.
Market Competitive Landscape
The competitive landscape of the drug discovery outsourcing market includes information by competitor. The company's overview, financials, revenue, market potential, R&D investment, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance are all included in the details. Several notable entities in the worldwide Drug Discovery Outsourcing industry comprise Charles River Laboratories, Curia Global Inc., Dalton Pharma Service, Discover X Corporation, Dr. Reddy’s Laboratories, Laboratory Corporation of America Holdings, Merck & Co, Syngene Intentional Ltd., Thermo Fisher Scientific,Inc., TCG Life Science Pvt. Ltd.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Workflow, By Therapeutic Area, By Drug Type, By End User.
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | Charles River Laboratories, Curia Global Inc, Dalton Pharma Service, Discover X Corporation, Dr. Reddy’s Laboratories, Laboratory Corporation of America Holdings, Merck & Co, Syngene Intentional Ltd, Thermo Fisher Scientific,Inc, TCG Life Science Pvt Ltd.
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COVID-19 Impact on Global Drug Discovery Outsourcing Market
The COVID-19 pandemic had a severe effect on the economy as a whole, causing a substantial downturn in 2020 in a number of industries. Due to the immense pressure placed on healthcare institutions to stop the spread of illness, the healthcare industry was among those most negatively affected by the epidemic. There was a small pause in certain non-COVID-19 related medication discovery and research operations during the early stages of the pandemic. It was observed that a number of corporations revised their clinical trial R&D spending in relation to prior investment. Nonetheless, quick recovery was noted because of the growing demand for the creation of a vaccine and potent medications to treat COVID-19.
Key Target Audience:
- Pharmaceutical Companies
- Biotechnology Companies
- Emerging Biopharmaceutical Start ups
- Contract Research Organizations
- Academia and Research Institutions
- Investors and Venture Capitalists
- Regulatory Agencies
- Healthcare Providers
- Non-Profit Organizations
- Government Agencies and Policy Makers
Our in-depth analysis of the Drug Discovery Outsourcing Market includes the following segments:
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By Workflow:
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Target Validation and Functional Informatics
Lead Identification and Candidate Optimization
Preclinical Development
Target Identification and Screening
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By Therapeutic Area:
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Cardiovascular
Central Nervous System
Gastrointestinal
Haematology
Respiratory System
Infectious Disease
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By Drug Type:
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Small Molecules
Large Molecules
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By End User:
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Pharmaceutical and Biotechnological Companies
Academia Institutions
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Key Topics Covered in the Report:
- Global Drug Discovery Outsourcing Market Size (FY’2024-FY’2033)
- Overview of Global Drug Discovery Outsourcing Market
- Segmentation of Global Drug Discovery Outsourcing Market By Workflow (Target Validation and Functional Informatics, Lead Identification and Candidate Optimization, Preclinical Development, Target Identification and Screening, Others)
- Segmentation of Global Drug Discovery Outsourcing Market By Therapeutic Area (Cardiovascular, Central Nervous System, Gastrointestinal, Hematology, Respiratory System, Infectious Disease, Oncology, Immunology, Others).
- Segmentation of Global Drug Discovery Outsourcing Market By Drug Type (Small Molecules, Large Molecules)
- Segmentation of Global Drug Discovery Outsourcing Market By End User (Pharmaceutical and Biotechnology Companies, Academia Institutes, Others)
- Statistical Snap of Global Drug Discovery Outsourcing Market
- Expansion Analysis of Global Drug Discovery Outsourcing Market
- Problems and Obstacles in Global Drug Discovery Outsourcing Market
- Competitive Landscape in the Global Drug Discovery Outsourcing Market
- Impact of COVID-19 and Demonetization on Global Drug Discovery Outsourcing Market
- Details on Current Investment in Global Drug Discovery Outsourcing Market
- Competitive Analysis of Global Drug Discovery Outsourcing Market
- Prominent Players in the Global Drug Discovery Outsourcing Market
- SWOT Analysis of Global Drug Discovery Outsourcing Market
- Global Drug Discovery Outsourcing Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst