The Global Outsourced
Drug Discovery Market, by Drug Type (Small Molecule Drugs and Large
Molecule Drugs), by Services (Preclinical Developments, Target validation and
Functional Informatics, Target Identification and Screening, Lead
Identification and Candidate Optimization, and Others), by Application
(Oncology, Ophthalmology, Hematology, Immunomodulation, Anti-Infective Drugs,
Dermatology, Neurology, Cardiology, and Others), by End Users (Pharmaceutical
and Biotechnological Companies, Contract Research Organization, and Contract
Manufacturing Organization), and by Region (North America, Latin America,
Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 20.7 billion
in 2017, and is projected to exhibit a CAGR of 12.1% during the forecast period
(2019-2026), as highlighted in a new report published by COherent Market
Insights.
Partnership strategies adopted by
key player for drug discovery and development procedure is expected to propel
growth of the global outsourced drug discovery market. For instance, in April
2019, Medicine Discovery Catapult partnered with 22 the U.K.-based contract
research organizations and launched in April 2019, Medicine Discovery Catapult
partnered with 22 the U.K.-based contract research organizations and launched a
virtual R&D discovery services platform made up of more than 20 CROs, which
will support small- to medium-sized companies deliver drug discovery projects.
Moreover, rising new site
launches for development of clinical research practices is expected to boost
the global outsourced drug discovery market growth. For instance, in June 2015,
INC Research Holdings, Inc., a contract research organization, launched
industry's first Site Advocacy Group (SAG) for development and enhancement of
clinical research activities. SAG focuses on the research and development
activities related to schizophrenia, depression, and bipolar disorder.
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Browse 23 Market Data Tables and
19 Figures spread through 157 Pages and in-depth TOC on "Outsourced Drug
Discovery Market”, by Drug Type (Small Molecule Drugs and Large Molecule
Drugs), by Services (Preclinical Developments, Target validation and Functional
Informatics, Target Identification and Screening, Lead Identification and
Candidate Optimization, and Others), by Application (Oncology, Ophthalmology,
Hematology, Immunomodulation, Anti-Infective Drugs, Dermatology, Neurology,
Cardiology, and Others), by End Users (Pharmaceutical and Biotechnological
Companies, Contract research Organization, and
Contract Manufacturing Organization), by Region (North America, Latin
America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to
2026."
Key players in the market are
focused on launching drug development services. For instance, in March 2018,
Evotec AG launched new drug discovery service INDiGO. This service is used for
the drug discovery and drug development processes. INDiGO is an integrated drug
development solution that accelerate faster drug development processes from
candidate selection through to NDA submission. It can reduce time and cost of
the drug development process. Moreover, new launches for drug discovery
platform is expected to propel growth of global outsourced drug discovery
market.
For instance, in October 2018,
WuXi AppTec Co. Ltd launched drug screening platform DNA- encoded library
(DEL). The goal of this drug screening platform is to provide free access of
DEL libraries to companies and academic users for research in drug discovery
processes. Furthermore, increasing number of partnership activities for drug
discovery and development is expected to drive global outsourced drug discovery
market growth. For instance, in January 2019, BioDuro, global life sciences
contract research and development organization, partnered with Advent
International. Under this partnership, Advent made investment in BioDuro for
drug discovery processes.
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Report: https://www.coherentmarketinsights.com/market-insight/outsourced-drug-discovery-market-2847
Key Takeaways of the Global Outsourced
Drug Discovery Market:
The global outsourced drug
discovery market is expected to witness a CAGR of 12.1% during the forecast
period (2019–2026), owing to increasing launch of new outsourcing services. For
instance, in February 2014, PAREXEL International Corporation launched various
drug discovery services including preclinical development, Phase IV clinical
services, and biopharmaceutical services.
Increasing partnership program in
drug discovery is expected to support the global outsourced drug discovery
market growth. For instance, in October 2018, Sanofi and Evotec launched
partnership program Public Private Partnership. Public Private Partnership is
designed to accelerate drug discovery processes across multiple therapeutic
areas.
Major players operating in the
global outsourced drug discovery market include, Aurigene Accelerating
Discovery, Bioduro LLC, Charles River Laboratories (CRL), Chempartner, TCG
Lifesciences, Evotec AG, Syngene International Ltd. Jubilant Biosys Ltd,
Pharmaron Inc., Shanghai Medicilon, and Sundia Meditech Co. Ltd.
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