About Drug Discovery Outsourcing
Over the last two decades, the Pharmaceutical industry has seen a radical change. The unprecedented downsizing of the internal discovery of big pharmaceuticals, patent expiration, shift towards biologics have seen a surge in the externalization and outsourcing activities. As the industry is looking for new sources of discovery and innovation with limited resources, there is a growing preference to move towards externalization and willingness to embrace the concept of outsourcing.
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Reportsandmarkets estimates that x â x% of the pharma companies R&D spending goes into drug discovery
Almost all the major Pharmaceutical companies are considering outsourcing as a core strategy to fill their discovery pipelines. Outsourcing companies that have precise capabilities through greater flexibility are the preferred ones. Now â a âdays, the big pharma relies more on CROâs for drug discovery capabilities to stock up their pipelines.
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The global pharmaceutical outsourcing market was estimated to be $xx billion in 2016 and out of which xx% is accounted for CROâs. Among the $xx billion CRO market, xx% accounts for discovery-based service i.e $xx billion in 2016 and xx% accounts for Preclinical service and clinical services.
Biologics are expected to grow faster at a CAGR of XX% during the forecast period 2016-25 compared to the small molecules which is growing at a CAGR of XX%. The growth is attributed to the increase in biologics R&D spending and lesser approval time, on the other hand factors such as tedious discovery process and high cost associated are restraining the biologics growth.
Current discovery outsourcing penetration is estimated to be XX% of the global pharmaceutical and biotech industry but poised to reach XX% by 2025 with a CAGR of X%.
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The pharmaceutical companies should consider several factors before finalizing a CRO partner like therapeutic area expertise, business model, scientific pool, infrastructure, data security, IP policies and last but not least cost-efficiency. Along with CROâs expertise on drug discovery, the most important aspect the pharma companies look for in a CRO is a verified track record of successfully working in the discovery program of relevant therapeutic area.
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