Drug discovery outsourcing is a practice used by pharmaceutical and biotechnology companies to reduce the cost of drug development. Outsourcing pharmaceutical drug commercialization to third party experts often can make a notable difference in the level of success of the given drug product. There are several outsourcing models that have been created worldwide over the years to address drug development service needs.

Market Dynamics:

Increasing prevalence of chronic/life-threatening disease, increasing demand for safe and effective drugs, growing trend of outsourcing, rise in focus on drug development, and increase in adoption of outsourcing services are major factors expected to augment growth of the global drug discovery outsourcing market during the forecast period.

For instance, in April 2023, Hamburg is on its way to becoming a leading hub of Europe's academic drug discovery, with the northern German city's town hall announcing the foundation of European ScreeningPort GmbH (European Centre for Modern Drug Discovery), a company that will run a state-of-the-art drug discovery service centre.  

Key features of the study:

• This report provides in-depth analysis of the global drug discovery outsourcing market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), considering 2022 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global drug discovery outsourcing market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Curia, Genscript, Evotec, Eurofins Scientific, Laboratory Corporation of America Holdings, among others.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global drug discovery outsourcing market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global drug discovery outsourcing market.

Detailed Segmentation:

• Global Drug Discovery Outsourcing Market, By Workflow:
  • Target Identification & Screening
  • Target Validation & Functional Informatics
  • Lead Identification & Candidate Optimization
  • Preclinical Development
  • Other Associated Workflow
• Global Drug Discovery Outsourcing Market, By Therapeutic Area:
  • Respiratory System
  • Pain and Anesthesia
  • Oncology
  • Ophthalmology
  • Hematology
  • Cardiovascular
  • Endocrine
  • Gastrointestinal
  • Immunomodulation
  • Anti-Infective
  • Central Nervous System
  • Dermatology
  • Genitourinary System
• Global Drug Discovery Outsourcing Market, By Drug Type:
  • Small Molecule
  • Large Molecule
• Global Drug Discovery Outsourcing Market, By Service Type:
  • Chemistry Services
  • Biology Services
• Global Drug Discovery Outsourcing Market, By End User:
  • Pharmaceutical & Biotechnology Companies
  • Academic Institutes
• Global Drug Discovery Outsourcing Market, By Geography:
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa
• Company Profiles:
  • Curia
  • Genscript
  • Evotec
  • Eurofins Scientific
  • Laboratory Corporation of America Holdings