The global drug discovery outsourcing market was valued at US$ 3,545.9 Mn in 2022 and is forecast to reach a value of US$ 6,262.4 Mn by 2030 at a CAGR of 6.4% between 2023 and 2030.
Global Drug Discovery Outsourcing Market: Regional Insights
Figure 1. Global Drug Discovery Outsourcing Market Share (%), by Region, 2023
Global Drug Discovery Outsourcing Market Trends:
Increase in research and development is a recent trend
Market players are engaged in research and development (R&D) activities for the development of safe and effective drugs to treat chronic, genetic, respiratory, and other diseases or reduce global disease burden. In November 2022, Sanofi and Insilico Medicine signed a US$ 1200 million Drug Development Deal. The agreement will allow Sanofi to use Insilico’s AI platform to advance drug development in up to six new targets. This trend is expected to continue during the forecast period, driving the growth of the drug discovery outsourcing market.
High demand for COVID-19 vaccine is another trend
Drug discovery outsourcing has become a vital aspect of developing effective treatments against viruses. In June 2021, Catalent, Inc. and Moderna, Inc. collaborated up to manufacture Moderna’s COVID-19 vaccine and other investigational programs in Moderna’s pipeline at Catalent’s facility in Bloomington, Indiana. Moreover, with the increasing cases of COVID-19 across the globe, the demand for safe and effective vaccine is also increasing. This trend is expected to continue during the forecast period, driving the growth of the market.
Drug Discovery Outsourcing Market Report Snapshots
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