Drug Discovery Outsourcing Market Set To Grow To Over $21bn In 2017
09 August 2017
Visiongain has launched a new pharma report Drug Discovery Outsourcing Market Report : Revenue Prospects for Chemistry Services, Biology Services, Lead Optimisation, Lead Identification and Screening, Leading National Markets and Companies
The drug discovery outsourcing market is one of the fastest growing sectors of the pharmaceutical contract research markets. The increased costs in the discovery and development of new drugs, due in part to the high attrition rate of drug candidates in development, has driven companies to outsource part or all of their discovery process.
Contract Research Organisations (CROs) have evolved rapidly to meet the needs for the full spectrum of companies from virtual companies to large pharma. In recent years, Visiongain has observed an increasing number of alliances and partnerships between companies and CROs. This has resulted from plans to reduce the cost of discovery and from the fact that companies are increasingly requiring specialised expertise from CROs whilst seeking to accelerate the drug discovery process. The trend is showing that CROs are becoming the powerhouses behind drug discovery.
The lead Visiongain report analyst for this report commented; “Drug discovery outsourcing will continue to experience healthy growth throughout the forecast period. This growth stems from an increasing demand for outsourced services as pharmaceutical companies become more apt to share the burden of high-risk/high-reward novel drug discovery. This shift has been brought about by increased costs in the discovery and development of new drugs, due in part to the high attrition rate of drug candidates in development, driving companies to outsource part or all of their discovery process and will ultimately lead to more globalized interconnected routes of drug discovery.”
The Drug Discovery Outsourcing market is highly competitive with many different players entering the market. The report discusses selected leading companies in the market. Notable companies in the drug discovery outsourcing market include Albany Molecular Research (AMRI), Aptuit, Charles River Laboratories, Covance, Cyprotex, Domainex, Evotec, GenScript, Pharmaceutical Product Development (PPD), Quintiles, Selcia, VivaBiotech, WIL Research Laboratories and WuXiAppTec
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