Wilmington, Delaware, United States, Oct. 06, 2022 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – An in-depth demand analysis of drug discovery outsourcing market indicates that the prospects pivot on growing need for reducing the costs of drug development as well as for increasing the effectiveness of entire drug development process. The authors of the TMR study observed that there is a vast unmet need for novel drugs for various therapeutic areas, thus engendering the growth prospects. The global drug discovery outsourcing market is anticipated to expand at a CAGR of 10% during the forecast period of 2020–2030.
Outsourcing companies are expanding their assortment of services aimed toward reducing average time for drug development. In particular, they are harnessing cutting-edge technologies for improving the conversion rates of hits to leads, that will benefit their clients and help them gain competitive edge over peers. Of note, the TMR study found that growing penetration of biological services will open up vast profitable avenues for market players, thus bolstering sales of drug discovery outsourcing market.
Get Exclusive PDF Sample Copy of Drug Discovery Outsourcing Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1841
Key Findings of Drug Discovery Outsourcing Market Study
- Massive Demand from Small and Medium-Sized Businesses Generating Tremendous Growth Opportunities: Biotech and pharmaceutical companies, especially SMEs, have exhibited vast potential for adopting drug discovery outsourcing services. Rise in number of small and medium-sized businesses leaning toward outsourcing of various stages of drug discovery will enrich the value chain of the drug discovery outsourcing market. Simplicity of organizational structure of SMEs and prevalent paucity of technical expertise are key factors that will fuel the demand, thereby enriching drug discovery outsourcing market outlook.
- Rise in Drug Discovery Outsourcing for Oncology Creates Vast Revenue Potential: Of the various therapeutic areas, oncology led the global market in 2019, and the segment is expected to remain lucrative, riding on the back of high prevalence of various cancer types and rising burden of cancer treatment and care globally.
- Small-Molecule Drug Discovery Presents Abundant Demand: Emerging trends of drug discovery outsourcing market found that small molecules are expected to hold a major global drug discovery outsourcing market share during the forecast period. The demand is anticipated to be lucrative in various specialties, notably including respiratory system, anti-infective, cardiovascular, and central nervous system.
Ask for References – https://www.transparencymarketresearch.com/sample/sample.php?flag=ARF&rep_id=1841
Drug Discovery Outsourcing Market: Key Drivers
- Rise in adoption of services of contract research organizations (CROs) for pre-clinical research will drive lucrative demand. CROs are fervently tapping into the massive demand by expanding their services portfolio.
- Growing R&D on personalized medicines is accelerating the growth prospects for pharmaceutical and biotech companies in drug discovery outsourcing market. Emphasis on reducing average time for drug development for various medical specialities will expand the canvas for players.
Drug Discovery Outsourcing Market: Regional Growth Dynamics
- North America held a major market share in 2019. The prominence of the North America drug discovery outsourcing market was attributed to the rise in demand for cutting-edge technologies notably artificial intelligence in drug discovery. Big multinational drug discovery companies in the region have been rapidly adopting the outsourcing model in recent years, which will propel sizable revenue streams in the regional market in the next few years.
- The Asia Pacific drug discovery outsourcing market is anticipated to expand at a promising growth rate during the forecast period of 2020–2030. The region has been emerging as a key center for drug discovery outsourcing service providers. Stridently, the trend will continue, reinforcing the lucrativeness of the regional market.
Make an Enquiry Before Buying – https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=1841
Drug Discovery Outsourcing Market: Competition Landscape
Many key players have been leveraging inorganic growth strategies to consolidate their position in the drug discovery outsourcing market. Some of them are Eurofins Discovery, Evotec SE, Jubilant Biosys Ltd., Thermo Fisher Scientific, Inc., Domainex Ltd., WuXi Biologics (Cayman), Inc., Pharmaron Beijing Co., Ltd., Sygnature Discovery, GVK Biosciences Private Limited, and WuXi AppTec.
Drug Discovery Outsourcing Market Segmentation
Service Type
- Biological Services
- Chemical Services
- Lead Identification & Screening
- Lead Optimization
- Others
Drug Type
- Small Molecules
- Large Molecules
Therapeutic Area
Respiratory System
- Anti-infective
- Oncology
- Cardiovascular
- Gastrointestinal
- Central Nervous System
- Immunomodulation
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Research Reports by Transparency Market Research:
Mice Model Generation Market: The global mice model generation market is anticipated to reach more than US$ 918.4 Mn by 2031 at a CAGR of 8.1% from 2022 to 2031.
Cancer Biomarkers Market: The global cancer biomarkers market is anticipated to reach more than US$ 31.4 Bn by 2031 at a CAGR of 9.9% from 2022 to 2031.
Analytical Standards Market: The global analytical standards market is anticipated to reach more than US$ 2.29 Bn by the end of 2031 at a CAGR of 6.7% from 2022 to 2031.
Mice Model Technologies Market: The global mice model technologies market is anticipated to reach US$ 3.2 Bn by 2031 at a CAGR of 7.4% from 2022 to 2031.
Soft Tissue Allografts Market: The global soft tissue allografts market is anticipated to reach more than US$ 6.3 Bn by the end of 2031 at a CAGR of 5.5% from 2022 to 2031.
Animal Genetics Market: The global animal genetics market is anticipated to reach more than US$ 9.1 Bn by the end of 2031 at a CAGR of 6.7% from 2022 to 2031.
Transplant Drug Monitoring Assay Market: The global transplant drug monitoring assay market is anticipated to reach more than US$ 542 Mn by the end of 2031 at a CAGR of 11.0% from 2022 to 2031.
Non-invasive Prenatal Testing Market: The global non-invasive prenatal testing market is anticipated to reach more than US$ 8.4 Bn by the end of 2031 at a CAGR of 14.8% from 2022 to 2031.
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update – https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Contact
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
Wall St Business News, Latest and Up-to-date Business Stories from Newsmakers of Tomorrow