Drug discovery is a process of inventing a new medication in the field of pharmaceuticals, biotechnology and pharmacology. Drug discovery is a complex, lengthycomplicated and expensive process. This process is carried out in four stages namely, target identification, target validation, high-speed screening and lead optimization. Though advanced technologies are available, success rate of drug discovery is very low and the time involved is relatively high.
The final stage of drug discovery involves obtaining a patent and running clinical trials. Most of the drugs entering into clinical trials fail and obsolete from the trials thus leading to waste of time, cost and efforts. Generally, small pharmaceutical companies develop new drug molecules and sell patent rights to big companies that can afford to conduct clinical trials. In order to focus on core competencies such as manufacturing, marketing and product labeling many companies outsource their drug discovery processes.
Outsourcing of drug discovery saves time, cost and efforts of the pharmaceutical and biological companies. On the other hand companies providing outsourced services for drug discovery are equipped with developed infrastructure, highly developed technological front and skilled expertise. Rapidly progressing technologies, reduced turn-around time, increasing strategic partnerships and development of biosimilars, biologics and orphan drugs are some of the driving forces for the growth of the global drug discovery outsourcing market.Though the market scope for drug discovery outsourcing market is vast, increase in clinical research organizations (CROs), regional expansion, niche CROs and public-private partnerships is leading to increased competition that is restraining growth of this market.
The market of drug discovery outsourcing is segmented depending on various types of services offered such as:
- Biological services
- Chemical services
- Lead Identification and screening
- Lead optimization
Geographically, the global drug discovery outsourcing market can be categorized into North America, Europe, Asia-Pacific and rest of the world regions.North America currently leads this market and is followed by Europe due to existence and early adoption of highly developed technologies and supportive economy. Asia-Pacific is a promising market for drug discovery outsourcing and is expected to undergo rapid market growth. Especially countries like China and India are promising regions, reason being many small biopharmaceutical companies prefer outsourcing their drug discovery activities to CROs in China and India. Apart from nations in Asia-Pacific, countries such as Russia and Ukraine will also show growth progress in the future.
Some of the market players in this industry segment are Galapagos NV, WIL Research Laboratories LLC, Albany Molecular Research, Inc. and Domainex, Ltd.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a technological growth map over time to understand the industry growth rate
- It provides a seven-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.