The Global OutsourcedDrug Discovery Market, by Drug Type (Small Molecule Drugs and LargeMolecule Drugs), by Services (Preclinical Developments, Target validation andFunctional Informatics, Target Identification and Screening, LeadIdentification and Candidate Optimization, and Others), by Application(Oncology, Ophthalmology, Hematology, Immunomodulation, Anti-Infective Drugs,Dermatology, Neurology, Cardiology, and Others), by End Users (Pharmaceuticaland Biotechnological Companies, Contract Research Organization, and ContractManufacturing Organization), and by Region (North America, Latin America,Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 20.7 billionin 2017, and is projected to exhibit a CAGR of 12.1% during the forecast period(2019-2026), as highlighted in a new report published by COherent MarketInsights.
Partnership strategies adopted bykey player for drug discovery and development procedure is expected to propelgrowth of the global outsourced drug discovery market. For instance, in April2019, Medicine Discovery Catapult partnered with 22 the U.K.-based contractresearch organizations and launched in April 2019, Medicine Discovery Catapultpartnered with 22 the U.K.-based contract research organizations and launched avirtual R&D discovery services platform made up of more than 20 CROs, whichwill support small- to medium-sized companies deliver drug discovery projects.
Moreover, rising new sitelaunches for development of clinical research practices is expected to boostthe global outsourced drug discovery market growth. For instance, in June 2015,INC Research Holdings, Inc., a contract research organization, launchedindustry's first Site Advocacy Group (SAG) for development and enhancement ofclinical research activities. SAG focuses on the research and developmentactivities related to schizophrenia, depression, and bipolar disorder.
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Browse 23 Market Data Tables and19 Figures spread through 157 Pages and in-depth TOC on "Outsourced DrugDiscovery Market”, by Drug Type (Small Molecule Drugs and Large MoleculeDrugs), by Services (Preclinical Developments, Target validation and FunctionalInformatics, Target Identification and Screening, Lead Identification andCandidate Optimization, and Others), by Application (Oncology, Ophthalmology,Hematology, Immunomodulation, Anti-Infective Drugs, Dermatology, Neurology,Cardiology, and Others), by End Users (Pharmaceutical and BiotechnologicalCompanies, Contract research Organization, and Contract Manufacturing Organization), by Region (North America, LatinAmerica, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to2026."
Key players in the market arefocused on launching drug development services. For instance, in March 2018,Evotec AG launched new drug discovery service INDiGO. This service is used forthe drug discovery and drug development processes. INDiGO is an integrated drugdevelopment solution that accelerate faster drug development processes fromcandidate selection through to NDA submission. It can reduce time and cost ofthe drug development process. Moreover, new launches for drug discoveryplatform is expected to propel growth of global outsourced drug discoverymarket.
For instance, in October 2018,WuXi AppTec Co. Ltd launched drug screening platform DNA- encoded library(DEL). The goal of this drug screening platform is to provide free access ofDEL libraries to companies and academic users for research in drug discoveryprocesses. Furthermore, increasing number of partnership activities for drugdiscovery and development is expected to drive global outsourced drug discoverymarket growth. For instance, in January 2019, BioDuro, global life sciencescontract research and development organization, partnered with AdventInternational. Under this partnership, Advent made investment in BioDuro fordrug discovery processes.
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Key Takeaways of the Global OutsourcedDrug Discovery Market:
The global outsourced drugdiscovery market is expected to witness a CAGR of 12.1% during the forecastperiod (2019–2026), owing to increasing launch of new outsourcing services. Forinstance, in February 2014, PAREXEL International Corporation launched variousdrug discovery services including preclinical development, Phase IV clinicalservices, and biopharmaceutical services.
Increasing partnership program indrug discovery is expected to support the global outsourced drug discoverymarket growth. For instance, in October 2018, Sanofi and Evotec launchedpartnership program Public Private Partnership. Public Private Partnership isdesigned to accelerate drug discovery processes across multiple therapeuticareas.
Major players operating in theglobal outsourced drug discovery market include, Aurigene AcceleratingDiscovery, Bioduro LLC, Charles River Laboratories (CRL), Chempartner, TCGLifesciences, Evotec AG, Syngene International Ltd. Jubilant Biosys Ltd,Pharmaron Inc., Shanghai Medicilon, and Sundia Meditech Co. Ltd.
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