NEWARK, Del, April 06, 2023 (GLOBE NEWSWIRE) -- The Drug Discovery Outsourcing Market is anticipated to expand its roots at a steady CAGR of 7.2% between 2023 and 2033. The market is anticipated to cross a market share of US$ 7.52 billion by 2033, which is likely to be valued at US$ 3.75 billion in 2023.
- Expanding the pharmaceutical industry and the higher penetration of digital technology and AI integration are transforming the market. Furthermore, the research and development procedure and the expansion of drug discovery vendors in emerging economies like China and India fuel the market growth.
- A massive portion of the research around small and large drug molecules (80%) is outsourced through pharma giants. This is due to the cheaper costs, easy workflow, increased workforce, and enhanced quality.
- The transformed drug industry with synergistic drugs and advanced anti-infection drugs is also shaping the market dynamics. At the same time, virus outbreaks such as Ebola and Coronavirus are increasing the market's consumer base.
- Government policies integrate their medical policies, allowing pharma giants to collaborate and build the advanced drug discovery space. Thus, the demand for outsourced drug delivery services is in high demand.
- The surge in respiratory patients with issues like tuberculosis, bronchitis, etc., also consumes a big chunk of the market. These conditions have increased lately as the post-corona impacts.
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Key Points
- The United States market leads the drug discovery outsourcing market in terms of market share in North America. The growth in the region is attributed to the expanding healthcare research budget, growing pharmaceutical companies, and strong bilateral business ties. The North American region held a substantial share of 35.5% in 2022.
- The United Kingdom drug discovery outsourcing market is another significant market from the European region. The market in the United Kingdom is owed by the technological integration and Ai-enabled drug discovery programs that promote cruelty-less procedures.
- The Japan drug discovery outsourcing market is anticipated to thrive at a healthy CAGR during the forecast period. Asia Pacific region leads the market in terms of CAGR. The Japanese market expands on the basis of increasing chronic diseases in the region and the higher geriatric population.
- By workflow type, the lead identification & candidate optimization segment held 32.3% in 2022. This is due to the enhanced selectivity and fewer side effects.
Competitive Landscape
The key vendors work on delivering solutions that are easily flexible, affordable, and of high quality. Key competitors merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
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Key Players
- Albany Molecular Research Inc.
- EVOTEC
- Laboratory Corporation of America Holdings
- GenScript
- Pharmaceutical Product Development, LLC
- Charles River
- WuXi AppTec
- Merck & Co., Inc.
- Thermo Fisher Scientific Inc.
- Dalton Pharma Services
- Oncodesign
- Jubilant Biosys
- DiscoverX Corp.
- QIAGEN
- Eurofins SE
- Syngene International Limited
- Dr. Reddy Laboratories Ltd.
- Pharmaron Beijing Co., Ltd.
- TCG Lifesciences Pvt Ltd.
- Domainex Ltd.
Recent Market Developments
- Syngene International Limited has added the SynVent integrated drug discovery option, a fully integrated therapeutic discovery and development process. It is likely to deliver a more effective and efficient target validation method.
- Dr. Reddy Laboratories Ltd has signed a pact with EQRx, a biotechnology company, for the discovery, development, and commercialization.
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Market Segmentation
Workflow Outlook:
- Target Identification & Screening
- Target Validation & Functional Informatics
- Lead Identification & Candidate Optimization
- Preclinical Development
- Other Associated Workflow
Therapeutics Area Outlook:
- Respiratory system
- Pain and Anesthesia
- Oncology
- Ophthalmology
- Hematology
- Cardiovascular
- Endocrine
- Gastrointestinal
- Immunomodulation
- Anti-infective
- Central Nervous System
- Dermatology
- Genitourinary System
Drug Type Outlook:
- Small Molecules
- Large Molecules (Biopharmaceuticals)
Service Type Outlook:
- Chemistry Services
- Biology Services
End-user Outlook:
- Pharmaceutical & Biotechnology companies
- Academic Institutes
- Others
Table of Content
1. Executive Summary | Drug Discovery Outsourcing Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
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