Market Research Report
Drug Discovery Outsourcing Market Analysis Report By Workflow (Lead Identification & Candidate Optimization, Preclinical Development), By Therapeutic Area, By Drug Type, And Segment Forecasts, 2018 - 2025
|Published by||Grand View Research, Inc.||Product code||666042|
|Published||Content info||175 Pages
Delivery time: 2-3 business days
|Drug Discovery Outsourcing Market Analysis Report By Workflow (Lead Identification & Candidate Optimization, Preclinical Development), By Therapeutic Area, By Drug Type, And Segment Forecasts, 2018 - 2025|
|Published: June 22, 2018||Content info: 175 Pages||
The global drug discovery outsourcing market size is expected to reach USD 4.44 billion by 2025 at an 8.14% CAGR, according to a new report by Grand View Research, Inc. Urging need to identify potential drug candidates for various chronic diseases is anticipated to fuel growth.
Technological advances in in silico drug designing and accelerating integration of Artificial Intelligence (AI) in drug discovery are driving industry progress. Multiple applications of AI algorithms in drug design and discovery provide opportunities for players to offer specialized drug discovery services. It is useful for processes such as target and compound selection, predictive analytics, screening, and drug repurposing.
Projected rise in adoption of outsourcing over the forecast period is expected to boost market revenue generation. Half of the drug discovery processes are anticipated to be outsourced, thereby creating massive opportunities for CROs, CMOs, and CDMOs to expand their market presence.
Number of collaborations among these organizations, key pharmaceutical players, and several universities has increased over the past few years. This rise in alliance further supports the projected increase in growth potential.
High cost and high risk of drug failure are major challenges faced in drug discovery. However, advances in technology that increase efficiency of drug discovery, coupled with increased adoption of highly advanced technology to provide specialized services, allow outsourcing companies to overcome these challenges.