Drug Discovery Outsourcing Market: Current Analysis and Forecast (2022-2030)
Emphasis on Type (Medical Chemistry Service and Biology Service); Drug Type (Small Molecule and Large Molecules (Biopharmaceuticals)); Therapeutic Area (Oncology, Infectious Disease, Respiratory Disease, Cardiovascular, Gastrointestinal, and Others); and Region/Country
Drug discovery outsourcing market was valued at USD 3 billion in 2021 & is expected to grow at a CAGR of 7% from 2022-2030. Furthermore, pharmaceutical companies are increasingly outsourcing drug discovery services to contract research organizations (CROs) and other specialized service providers. This allows them to access specialized expertise, advanced technologies, and cost-effective solutions to accelerate drug development timelines and reduce R&D costs. The drug discovery outsourcing market is the increasing complexity of drug development. Developing a new drug requires a range of specialized skills and technologies, including expertise in genomics, proteomics, and bioinformatics. By outsourcing these services, pharmaceutical companies can access a wider range of expertise and technologies, allowing them to develop more innovative and effective drugs. Moreover, various academic & private Contract Research Organizations (CROs) implement strategic initiatives with biotech companies. For instanceGenScript Biotech Corporation signed a strategic licensing agreement in June 2021 for Ligand’s OmniAb Platform, a multi-species antibody discovery platform to produce fully human antibodies that are optimized in vivo for immunogenicity, manufacturability, and efficacy. This will allow GenScript Biotech Corporation to generate highly diverse, fully human antibodies.
Some of the major players operating in the market include Curia Global, Inc.; Laboratory Corporation of America® Holdings; Genscript; Thermo Fisher Scientific Inc.; Charles River Laboratories; WuXi AppTec; Merck & Co., Inc.; Qiagen; Jubilant Biosys Ltd.; Eurofins DiscoverX Products. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst drug type, the small molecule category held a dominating share of the market in 2021”
Based on drug type, the market is segmented into small molecule and large molecules (biopharmaceuticals). Amongst these, the small molecule category dominated the market in 2021. This is mainly due to the rapid advancement of biopharmaceutical research & technology for the discovery and some distinct advantages, such as it can be administered orally and can pass through membranes to reach intracellular targets more precisely as compared to large molecules.
“Amongst therapeutic area, the respiratory disease category held the majority share of the market in 2021”
By therapeutic area, the market is segmented into oncology, infectious disease, respiratory disease, cardiovascular, gastrointestinal, and others. Among these, the respiratory disease category captured the majority share of the drug discovery outsourcing market in 2021. This is mainly due to the rising number of cases of drug resistance and the high prevalence of respiratory diseases like bronchitis, tuberculosis, COPD, and asthma. For instance, according to the world health organization (WHO), Asthma affected an estimated 262 million people in 2019 and caused 455 000 deaths.
“North America Dominated the Drug Discovery Outsourcing Market in 2021”
North America dominated the drug discovery outsourcing market in 2021 due to the development of technology, the presence of well-established research infrastructure and key players, and increased investments in drug discovery R&D. The increasing demand for efficiency, quality, and innovation is anticipated to contribute to market expansion, as outsourcing is no longer solely about cost reduction.
Drug Discovery Outsourcing Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global Drug Discovery Outsourcing Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Drug Discovery Outsourcing Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Drug Discovery Outsourcing Market were the three major steps undertaken to create and analyze the adoption of drug discovery outsourcing in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Drug Discovery Outsourcing Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the drug discovery outsourcing market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the drug discovery outsourcing market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, drug type, and therapeutic area. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the drug discovery outsourcing market. Further, we conducted factor analysis using dependent and independent variables such as type, drug type, and therapeutic area of the Drug Discovery Outsourcing Market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Drug Discovery Outsourcing Market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Drug Discovery Outsourcing Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Drug Discovery Outsourcing Market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Drug Discovery Outsourcing Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Drug Discovery Outsourcing Market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the type, drug type, and therapeutic area in the global Drug Discovery Outsourcing Market.
The main objective of the Global Drug Discovery Outsourcing Market Study
The current & future market trends of the global Drug Discovery Outsourcing Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the drug discovery outsourcing market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the type, drug type, and therapeutic area
- Define and analysis of the regulatory framework for the drug discovery outsourcing industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Drug Discovery Outsourcing Market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the drug discovery outsourcing market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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