888-776-0942 from 8 AM - 10 PM ET
Rise in the prevalence of chronic diseases such as cancer, cardiovascular diseases, diabetes, high blood pressure, and various others, increase in R&D activities for drug discovery, and surge in demand for target drug therapy drive the growth of the global drug discovery outsourcing market. Promo Company
PORTLAND, Ore. , Nov. 21, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Drug Discovery Outsourcing Market by Workflow (Target Identification and Screening, Target Validation and Functional Informatics, Lead Identification and Candidate Optimization, Preclinical Development, Others), by Therapeutic area (Respiratory system, Infectious disease, Oncology, Immunology, Hematology, Cardiovascular, Central Nervous System (CNS), Gastrointestinal, Others), by Drug Type (Small Molecules, Large Molecules), by End User (Pharmaceutical and Biotechnology companies, Academic Institutes, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global drug discovery outsourcing industry was estimated at $3.6 billion in 2021, and is anticipated to hit $7.4 billion by 2031, registering a CAGR of 7.5% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chain, competitive scenario, and regional landscape. The market study is exclusively meant to help the readers with a complete valuation of industry analysis and trends.
Download Free Sample Report- https://www.alliedmarketresearch.com/request-sample/15283
Rise in the prevalence of chronic diseases such as cancer, cardiovascular diseases, diabetes, high blood pressure, and various others, increase in R&D activities for drug discovery, and surge in demand for target drug therapy drive the growth of the global drug discovery outsourcing market. On the other hand, high cost of outsourcing services and stringent government regulations impede the growth to some extent. However, availability of low-cost skilled manpower with high-quality data in developing countries are anticipated to pave the way for lucrative opportunities in the industry.
The oncology segment to dominate by 2031-
By process, the oncology segment held nearly one-fourth of the global drug discovery outsourcing market revenue in 2021, and is expected to lead the trail by 2031. The same segment would also cite the fastest CAGR of 8.8% during the forecast period. Rapid drug development process and increase in awareness regarding target selection by using various methods such as assay & readers, automation, and high content screening fuel the growth of the segment.
The small molecules segment to rule the roost-
By drug type, the small molecules segment generated the major share in 2021, holding nearly three-fifths of the global drug discovery outsourcing market, and is projected to dominate throughout the forecast period. The same segment would also cite the fastest CAGR of 7.9% throughout the forecast period. This is attributed to the rapid advancement of biopharmaceutical research and technology.
The pharmaceutical and biotechnology companies segment to maintain the lion's share-
By end-user, the pharmaceutical and biotechnology companies segment contributed to nearly half of the global drug discovery outsourcing market share in 2021, and is expected to retain its dominance by 2031. The same segment would also portray the fastest CAGR of 8.3% from 2022 to 2031. This is due to the rising R&D expenditure of pharmaceutical and biopharmaceutical companies which is prompting them to opt for fully integrated or functional outsourcing services, from the early development stage to the late-stage development phase, for drug discovery and development.
For Purchase Inquiry- https://www.alliedmarketresearch.com/purchase-enquiry/15283
North America garnered the major share in 2021-
Based on region, North America held the major share in 2021, generating nearly two-fifths of the global drug discovery outsourcing market. Increase in healthcare expenditure and the presence of major key players across the region providing outsourcing facilities for the development of novel drug therapies to treat cancer and chronic diseases drive the market growth. Asia-Pacific , simultaneously, would garner the fastest CAGR of 8.5% by 2031. Favorable regulatory environment and availability of low-cost skilled manpower with high quality data in these nations, especially in countries such as India and China fuel the market growth.
Key players in the industry-
The report analyzes these key players in the global drug discovery outsourcing market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in assessing the operating segments, their business performance & product portfolio, and so on.
Similar Research Reports for Information, Communication and Technology:
Medical Gas Analyzers Market Expected to Reach $325 Million by 2025
Antibiotics Market Expected to Reach $50,374 Million by 2025
Healthcare Chatbot Market Expected to Reach $116.9 Million by 2026
Pharmaceutical Filtration Market Expected to Reach $7.74 Billion by 2026
Drug Delivery Devices Market Expected to Reach $26.7 Billion by 2026
Artificial Cornea and Corneal Implant Market Expected to Reach $656.19 Million by 2028
AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) Offered by Allied Market Research:
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon . Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States Toll Free: +1-800-792-5285 UK: +44-845-528-1300 Hong Kong : +852-301-84916 India (Pune ): +91-20-66346060 Fax: +1-855-550-5975 [email protected] Web: https://www.alliedmarketresearch.com Follow Us on: LinkedIn Twitter
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
More news releases in similar topics
Pop Display Cision Distribution 888-776-0942 from 8 AM - 9 PM ET