DRUG DISCOVERY OUTSOURCING MARKET ANALYSIS

Regional Analysis

Global Drug Discovery Outsourcing Market: Regional Insights

Based on geography, the global drug discovery outsourcing market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

Among regions, North America is expected to gain highest share in the market during the forecast period owing to the rising incidence of chronic, genetic, respiratory, and other diseases, increasing demand for safe and effective drugs, rising focus on drug development, and increase in research and development in this region. For instance, in September 2022, CytoReason announced multi-year partnership with Pfizer to use CytoReason’s artificial intelligence technology for Pfizer’s drug development programs. The agreement will support the development of additional disease models and the creation of high-resolution models, spanning across a number of therapeutic areas.

Europe and Asia Pacific are also expected to witness robust growth in the global drug discovery outsourcing market owing to the rise in burden of chronic and life-threatening diseases, increasing demand for safe and effective drugs, increasing research and development, increasing focus on the drug development in these regions. For instance, in April 2023, Hamburg is on its way to becoming a leading hub of Europe's academic drug discovery, with the 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.

Geographies covered:

• North America: U.S. and Canada
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East: GCC Countries, Israel, and Rest of Middle East
• Africa: South Africa, North Africa, and Central Africa