Summary

The drug discovery outsourcing market is expected to grow at a strong CAGR of around 7% during the forecast period. owing to the rising demand for novel and effective drugs, increasing R&D costs, and a shortage of in-house resources. Furthermore, pharmaceutical companies are increasingly outsourcing drug discovery services to contract research organizations (CROs) and other specialized service providers. This allows them to access specialized expertise, advanced technologies, and cost-effective solutions to accelerate drug development timelines and reduce R&D costs. The drug discovery outsourcing market is the increasing complexity of drug development. Developing a new drug requires a range of specialized skills and technologies, including expertise in genomics, proteomics, and bioinformatics. By outsourcing these services, pharmaceutical companies can access a wider range of expertise and technologies, allowing them to develop more innovative and effective drugs. Moreover, various academic & private Contract Research Organizations (CROs) implement strategic initiatives with biotech companies. For instanceGenScript Biotech Corporation signed a strategic licensing agreement in June 2021 for Ligand's OmniAb Platform, a multi-species antibody discovery platform to produce fully human antibodies that are optimized in vivo for immunogenicity, manufacturability, and efficacy. This will allow GenScript Biotech Corporation to generate highly diverse, fully human antibodies.

Some of the major players operating in the market include Curia Global, Inc.; Laboratory Corporation of America® Holdings; Genscript; Thermo Fisher Scientific Inc.; Charles River Laboratories; WuXi AppTec; Merck & Co., Inc.; Qiagen; Jubilant Biosys Ltd.; Eurofins DiscoverX Products. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst drug type, the small molecule category held a dominating share of the market in 2021”
Based on drug type, the market is segmented into small molecule and large molecules (biopharmaceuticals). Amongst these, the small molecule category dominated the market in 2021. This is mainly due to the rapid advancement of biopharmaceutical research & technology for the discovery and some distinct advantages, such as it can be administered orally and can pass through membranes to reach intracellular targets more precisely as compared to large molecules.

“Amongst therapeutic area, the respiratory disease category held the majority share of the market in 2021”
By therapeutic area, the market is segmented into oncology, infectious disease, respiratory disease, cardiovascular, gastrointestinal, and others. Among these, the respiratory disease category captured the majority share of the drug discovery outsourcing market in 2021. This is mainly due to the rising number of cases of drug resistance and the high prevalence of respiratory diseases like bronchitis, tuberculosis, COPD, and asthma. For instance, according to the world health organization (WHO), Asthma affected an estimated 262 million people in 2019 and caused 455 000 deaths.

“North America Dominated the Drug Discovery Outsourcing Market in 2021”
North America dominated the drug discovery outsourcing market in 2021 due to the development of technology, the presence of well-established research infrastructure and key players, and increased investments in drug discovery R&D. The increasing demand for efficiency, quality, and innovation is anticipated to contribute to market expansion, as outsourcing is no longer solely about cost reduction.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global Drug Discovery Outsourcing Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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