Drug Discovery Outsourcing Market to Grow at a CAGR of 12.13% During the Period 2018-2022

About: Drug Discovery Outsourcing

Reportsandmarkets recently says that Drug discovery outsourcing refers to the outsourcing of drug discovery processes to contract manufacturers to reduce the time taken for development of a drug or to scale-up production, enjoy premium pricing, increase market share, reduce costs, and serve the local markets.

The global drug discovery outsourcing market to grow at a CAGR of 12.13% during the period 2018-2022.

Covered in this report
The report covers the present scenario and the growth prospects of the global drug discovery outsourcing market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

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The market is divided into the following segments based on geography:
Americas
APAC
EMEA

Drug Discovery Outsourcing Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

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Key vendors
Charles River
Domainex
EVOTEC
GenScript
GVK Biosciences

Market driver
Prioritization of core competencies
For a full, detailed list, view our report

Market challenge
Limited manufacturing standardization
For a full, detailed list, view our report

Market trend
Increased demand for regenerative medicine
For a full, detailed list, view our report

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Key questions answered in this report
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?

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Medical Report: Drug Discovery Outsourcing Global Market Forecast To 2025

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 – 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 – a –days, the big pharma relies more on CRO’s 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 CRO’s. 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 CRO’s 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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Source: Medical Report: Drug Discovery Outsourcing Global Market Forecast To 2025 – openPR