New Zealand markets closed
  • NZX 50

    11,677.75
    +35.90 (+0.31%)
     
  • NZD/USD

    0.6432
    +0.0017 (+0.26%)
     
  • ALL ORDS

    7,527.80
    +24.30 (+0.32%)
     
  • OIL

    80.66
    +0.68 (+0.85%)
     
  • GOLD

    1,820.30
    +10.70 (+0.59%)
     

Global drug discovery outsourcing market is projected to grow at a CAGR of 7.55% By 2032: Visiongain Reports Ltd

Visiongain Reports Ltd
Visiongain Reports Ltd

Visiongain has published a new report entitled the Drug Discovery Outsourcing 2022-2032. It includes profiles of Drug Discovery Outsourcing and Forecasts Market Segment by Service Type (Chemical Services, Biology Services, Lead Optimization, Lead Identification & Screening, Others), by Molecule Type (Large Molecule Drugs, Small Molecule Drugs), by Therapeutic Area (Oncology, Infectious Disease, Central Nervous System, Immunology, Cardiovascular Disease, Metabolic Disease, Respiratory Disease, Others) PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country.

The global vaccine contract manufacturing market was valued at US$9,241.9 million in 2021 and is projected to grow at a CAGR of 7.55% during the forecast period 2022-2032.

Growing Demand for Outsourced Services to Boost Market Growth
The market for drug discovery outsourcing is on the rise; it is growing to reach US$20,488.2 million in 2032. Over the next decade, global drug discovery outsourcing industry is projected to grow significantly at a CAGR of over 7%. As pharmaceutical corporations become increasingly capable of spreading the burden of high-risk/high-reward new drug research, there is a growing demand for outsourced services. Furthermore, patent expiry of several pharmaceutical drugs will seek to infuse drug pipelines with a new set of candidates. One of the fastest expanding segments of the pharmaceutical contract research industry is drug discovery outsourcing. Companies are outsourcing their discovery process due to rising costs in the discovery and development of novel pharmaceuticals. CROs have grown quickly to fulfil the demands of a wide range of businesses, from small to mid/large pharmaceutical firms. The trend shows that CROs are becoming the driving force behind the discovery of drugs. The North American region will dominate market, with Visiongain predicting strong competition from emerging markets in Asia-Pacific, such as China and India, over the forecast period.

Strong Growth Potentials Across Developed and Emerging Economies
Visiongain believes that the market for drug discovery has strong growth potentials in both the developed and emerging markets, leading to a more interlinked future for the pharmaceutical industry. Although expansion will depend on the continued focus of the pharmaceutical industry on drug pipeline replenishment, efforts by governments to improve healthcare provision and competition within the pharmaceutical industry.

Although many niche CROs are not in a position to enter into strategic partnerships with large pharmaceutical companies in terms of service capabilities, their specialized services will remain in demand throughout the forecast period. Small biotechnology companies are largely responsible for the discovery of drugs in the market, and those who do not want to out-licence their candidates for large pharma needs the capabilities of CROs to perform early discovery processes. Most small biotech companies may seek the expertise that smaller CROs can offer, seeking expertise in niche therapeutics areas or stages of development. Niche CROs will also benefit from the demand for services from larger CROs with limited or no capacity in particular areas of drug development. Although the number of contracts available to the drug discovery outsourcing industry continues to increase, there are many CROs competing for these contracts. Whereas once academic research laboratories were seen as competing with CROs because they could form partnerships with industrial companies, many CROs are now working with academic research laboratories to gather much of their drug discovery sources.

Download Exclusive Sample of Report @

https://www.visiongain.com/report/drug-discovery-outsourcing-market-2022/#download_sampe_div

How has COVID-19 had a Significant Impact on the Drug Discovery Outsourcing Market?
Pharmaceutical businesses have been pushed into the spotlight as a result of the COVID-19 outbreak. Drug development is an expensive & time-consuming procedure. As a result, pharmaceutical and biotech corporations are turning to academia and private contract research organizations to outsource their research. Rising collaborations between public and commercial entities speed up drug discovery, resulting in a rise in worldwide demand for drug discovery outsourcing services. After the covid effect, this scenario is projected to continue. Companies have been asked to produce drugs that improve life expectancy due to an increase in chronic illness cases. According to the United Nations, adults over 65 are anticipated to live an additional 17 years between 2015 and 2020. Some of the key therapeutic areas where corporations are actively interested in outsourcing are oncology, cardiovascular, and anti-infectives.

How this Report Will Benefit you?
Visiongain’s 354 page report provides 122 tables and 150 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global vaccine contract manufacturing market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Drug Discovery Outsourcing. Get the financial analysis of the overall market and different segments including type, process, upstream, downstream, company size and capture higher market share. We believe that high opportunity remains in this fast-growing vaccine contract manufacturing market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.

What are the Current Market Drivers?

Cost Reduction: A Central Driver for Outsourcing
One of the key drivers for outsourcing drug discovery operations is to lower operational costs. It is a fact of today’s difficult economic climate that companies are look at all possible options for trimming their operational budgets without comprising on the quality of the services they offer. Outsourcing has become such an indispensable tool that the majority of the leading pharmaceutical companies continue to outsource some aspect of their drug discovery operations.

In addition to the pharmaceutical industry, there is a growing client base of virtual pharmaceutical companies that outsource 100% of their work to CROs. Increasingly a large number of these virtual companies are being established because venture capital firms are reluctant to provide sufficient start-up funding to these companies for fear that the money may be squandered on a product that will not reach the clinical stage. Thus, cost is a central driver for outsourcing to contract research organizations.

Emerging Markets are a Popular Destination for CROs
Drug discovery outsourcing in the pharmaceutical industry has been operating for the last few decades. However, the global outsourcing market has grown considerably in recent years in response to the growing pressures felt by pharmaceutical companies. Outsourcing to China, India and South Korea are common practices as the CROs in these countries provide cheaper services owing to the reduced cost of labour and resources in Asia. Increasingly, some of the large CROs provide a range of services spanning from drug discovery to clinical trials support.

Get Detailed TOC @

https://www.visiongain.com/report/drug-discovery-outsourcing-market-2022/#download_sampe_div

Where are the Market Opportunities?

Available Scope for the Expansion of CROs to Offer Lucrative Growth Prospects Through 2032
Contract research organizations have seen growth previously been driven by a number of factors. Growth has occurred as a result of the addition of new customers. However, CROs have also expanded through the acquisition of other smaller CROs offering a particular expertise, or the acquisition of new facilities.

Technological advances in areas such as molecular biology have stimulated the expansion of niche CROs, providing expertise in particular services. CRO growth and expansion will be a continuing trend throughout the forecast period. Companies will look to expand in a variety of ways- adding new services that meet changing demands from the pharmaceutical industry, expanding into new territories, or simply adding capacity for larger projects. There are always some form of risks related with all forms of expansion. However, Visiongain believes that the major market players that expand through a combination of these ways will be best-placed towards the end of this decade.

Advancement in Targeted Therapies to Offer Lucrative Opportunities for Market Players
The use of genetic analysis to get a better knowledge of disease biology has resulted in the identification of various subgroups of patients within a disease. Companies are already developing novel therapies for these subgroups of patients, aiming for a smaller patient population but higher-priced medications. A comparable trend is the discovery of medications for orphan diseases, which are uncommon diseases with significant unmet medical needs. CROs have both possibilities and problems as a result of such trends. According to reports, there are almost three times as many medications in the pipeline for rare illnesses now as there were ten years ago. Rare illnesses will be addressed by 1,800 of the more than 8,500 new medications under development.

Competitive Landscape
The major players operating in the vaccine contract manufacturing market are Curia Global, Inc., Charles River Laboratories, Dalton Pharma, Domainex, Eurofins, Evotec AG, Genscript, Aragen Life Sciences Pvt. Ltd.  (GVK Biosciences), Jubilant Biosys Ltd., Laboratory Corporation of America Holdings, Pharmaron, QIAGEN N.V., Selvita, Sundia Meditech Co Ltd., Sygnature Discovery, Syngene International, Thermo Fisher Scientific Inc., and WuXi AppTec. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.

Avoid missing out by staying informed – order our report now.

Find more Visiongain research reports on Pharma sector click on the following links:

Do you have any custom requirements we can help you with? Any need for a specific country, geo region, market segment or specific company information? Contact us today, we can discuss your needs and see how we can help: dev.visavadia@visiongain.com

About Visiongain

Visiongain is one of the fastest-growing and most innovative independent market intelligence around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports cover a 10 year forecasts, are hundreds of pages long, with in depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets, which currently can influence one another, these markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customized and syndicated market research reports means that you can have a bespoke piece of market intelligence customized to your very own business needs.

Contact:

Dev Visavadia
PR at Visiongain Reports Limited
Tel: + 44 0207 336 6100
Email: dev.visavadia@visiongain.com