The global Drug Development Outsourcing market size was valued at USD 3.1 billion in 2020 and is expected to grow at a CAGR of 7% over the forecast period. Pharmaceutical companies are gradually outsourcing research and development activities to academic and private contract research organizations (CROs) to reduce drug development schedules and costs. The pharmaceutical industry has witnessed drastic changes over the past two decades in terms of the transition to zero biological agents, expiration of patents, and an unprecedented reduction in the internal discovery of large pharmaceuticals. All of this has accelerated the adoption of outsourcing activities.
A full report of Drug Discovery Outsourcing Market available at https://www.orionmarketreports.com/drug-discovery-outsourcing-market/53736/
Drug Discovery Outsourcing Market: Segmentation
• In terms of service type, the global drug discovery outsourcing market has been categorized into biological services, chemical services, lead identification & screening, lead optimization, and others. The chemical services segment dominated the global drug discovery outsourcing market, in terms of value, in 2019. However, the biological services segment is likely to expand at a high CAGR during the forecast period.
• Based on drug type, the global drug discovery outsourcing market has been classified into small molecules and large molecules. The small molecules segment dominated the drug discovery outsourcing market in 2019 and is likely to remain dominant in the forecast period. In terms of therapeutic area, the global drug discovery outsourcing market has been divided into respiratory system, anti-infective, oncology, cardiovascular, gastrointestinal, central nervous system, immunomodulation, and others. Oncology segment dominated the global drug discovery outsourcing market in 2019.
Market 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 Corporation
• QIAGEN
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
