Drug Discovery Outsourcing Market Key Insights, Profiling Companies and Growth Strategies
                     Drug Discovery Outsourcing Market: Introduction
According to the report, the global drug discovery outsourcing market was valued at US$ 4.5
Bn in 2019. It is projected to expand at a high CAGR during the forecast period. Drug discovery
contract research organizations (CROs) are offering a range of research services on a contract
basis to pharmaceutical and biotechnology companies for drug discovery. The expansion of the
global  drug  discovery  outsourcing  market  can  be  attributed  to  the  rise  in  penetration  of
contract research organizations for pre-clinical  research, increase in investments in research
and development (R&D), a surge in the demand for personalized medicines, and rise in focus of
pharmaceutical companies on streamlining their internal costs. North America dominated the
global drug discovery outsourcing market in 2019. The trend is anticipated to continue during
the forecast period. Increase in R&D costs, rise in funding for research & development, and an
increase in penetration of CROs boost the drug discovery outsourcing market in the region.
Request a PDF Brochure 
- https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1841
Increase in R&D spending
Drug research and development (R&D) costs have been significantly high.  These costs have
been  increasing  continuously  for  the  last  few  years.  It  is  estimated  that  the  cost  of
manufacturing  a  new  molecule  entity  (NME)  in 2017 was  ~US$  2  Bn to US$  3.5
Bn. Furthermore, the total research and development spending is anticipated to increase at a
rate  of  over 2%  to 3% by 2020,  primarily  driven  by  significant  unmet  needs  and  strong
technological  advances.  The increase in R&D costs has led to a range of  biopharmaceutical
companies  outsourcing  their  research  process  ranging  from  target  validation  and  lead
optimization to animal testing and human clinical trials to CROs. Furthermore, R&D spending in
oncology has been increasing significantly,  which has fuelled the need for  outsourcing R&D
activities.
Request a Sample of Drug Discovery Outsourcing Market: 
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1841
Chemical Services Dominated Global Market
In terms of service type, the chemical services segment is projected to account for a major
share  of  the  global  drug  discovery  outsourcing  market  during  the  forecast  period.  The
expansion of the segment can be attributed to chemical services being the core of the drug
discovery services. Moreover, increase in demand for newer molecules exceeding the supply
and shortage of chemists has led to a rise in outsourcing of chemical services.
Small Molecules Drug Type to Remain Prominent
Based on drug type, the small molecules segment is anticipated to account for a major share of
the global drug discovery outsourcing market during the forecast period. The expansion of the
segment can be attributed to the increase in number of small molecule drugs in the pipeline.
Additionally, ease of incorporation of AI and technology in drug discovery of small molecules
further fuels the segment.
Request for Analysis of COVID19 Impact on Drug Discovery Outsourcing Market - 
https://www.transparencymarketresearch.com/sample/sample.php?
flag=covid19&rep_id=1841
Drug Discovery Outsourcing Market: Prominent Regions
The global  drug discovery outsourcing market has been segmented into five major regions:
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America
dominated the global drug discovery outsourcing market in 2019. The expansion of the drug
discovery  outsourcing  market  in  the  region  can  be  attributed  to  the  rise  in  focus  and
investments on research & development.  The U.S. was a major country contributing to the
expansion of the drug discovery outsourcing market in the region. Additionally, strong presence
of leading market players, significant partnerships, and contracts of pharmaceutical companies
with CROs for outsourcing their drug discovery process boost the drug discovery outsourcing
market.
The drug discovery outsourcing market in Asia Pacific is estimated to expand at a high CAGR
from 2020 to 2030 driven by developing countries such as China and India. The expansion of
the drug discovery outsourcing market in the region can be attributed to a rise in the number of
contract research organizations offering drug discovery services. Additionally, increase in focus
of big pharmaceutical companies on outsourcing drug discovery to countries in Asia, owing to
the  large  target  population  and  presence  of  skilled  technicians  further  propels  the  drug
discovery outsourcing market in the region.
Enquiry before Buying Drug Discovery Outsourcing Market Report - 
https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=1841
Focus on Strategic Acquisitions and Partnerships by Key Players to Propel Global Market
The global drug discovery outsourcing market is fragmented in terms of number of players. Key
players  operating  in  the  global  drug  discovery  outsourcing  market  are CHARLES  RIVER
LABORATORIES INTERNATIONAL, INC., WuXi AppTec Co., Ltd., Albany Molecular Research Inc.
(AMRI), GVK Biosciences Private Limited, Sygnature Discovery, Pharmaron Beijing Co., Ltd.,
WuXi Biologics (Cayman), Inc., Domainex Ltd., Thermo Fisher Scientific, Inc., Jubilant Biosys
Ltd., Evotec SE, Eurofins Discovery, and GenScript Biotech Corporation.
More Trending Reports by Transparency Market Research: 
Molecular Cytogenetics Market- https://www.transparencymarketresearch.com/molecular-
diagnostics-market.html
Biochip Products and Services Market- 
https://www.transparencymarketresearch.com/biochip-products-services.html
Cell Surface Markers Market- https://www.transparencymarketresearch.com/cell-surface-
markers-market.html
Transcriptomics Technologies Market- 
https://www.transparencymarketresearch.com/transcriptomics-technologies-market.html
SNP Genotyping and Analysis Market- https://www.transparencymarketresearch.com/snp-
single-nucleotide-polymorphism-market.html
Prenatal and New-born Genetic Testing Market- 
https://www.transparencymarketresearch.com/prenatal-new-born-genetic-testing.html
Ophthalmology Diagnostics & Surgical Devices Market- 
https://www.transparencymarketresearch.com/ophthalmology-diagnostics-surgical-
devices.html
Immunoprotein Diagnostic Testing Market- 
https://www.transparencymarketresearch.com/immunoprotein-diagnostic-testing.html
About Us 
Transparency Market Research, a global market research company registered at Wilmington,
Delaware, United States, provides custom research and consulting services. The firm scrutinizes
factors shaping the dynamics of demand in various markets. The insights and perspectives on
the markets evaluate opportunities in various segments.  The opportunities in the segments
based on source, application, demographics, sales channel, and end-use are analysed, which
will determine growth in the markets over the next decade.
 
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking
insights for thousands of decision-makers, made possible by experienced teams of Analysts,
Researchers, and Consultants. The proprietary data sources and various tools & techniques we
use  always  reflect  the  latest  trends  and  information.  With  a  broad  research  and  analysis
capability,  Transparency Market Research employs rigorous primary and secondary research
techniques in all of its 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: [email protected]