Global Market Size, Share, Latest Trends, Growth Opportunities and Forecast 2027: DBMR Updates – KSU
Washington, June 20, 2021 – Databridgemarketresearch.com announces the release of the Global Drug Research Outsourcing Market report – Size, Share and Trends Analysis Report to 2028. The market research report proves to be ideal solution for better understanding of chemical and materials industry and lead business growth. Market definition, segmentation, applications and value chain structure of this industry are mentioned in the report. This report provides current as well as upcoming technical and financial details of the industry through 2026. According to this report, market renewal is mainly due to the actions of key players or brands such as developments, product launches, joint ventures, mergers, and acquisitions. The company profiles of all major players and brands that dominate this report were taken into account.
Market Analysis: Global Drug Research Outsourcing Market
The global drug discovery outsourcing market is expected to grow from its initial estimated value of $ 2.54 billion in 2018 to an estimated value of $ 4.78 billion by 2026, with a CAGR of 8.25% recorded. The increasing use of artificial intelligence in drug discovery is a key factor in the growth of this market.
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The global drug discovery outsourcing market is highly fragmented and the key players have employed various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their presence in this market. The report provides market shares of the Drug Research Outsourcing market covering Europe, North America, Asia Pacific, South America, and the Middle East & Africa.
Major competitors in the market:
Some of the key competitors currently in the drug discovery outsourcing market are Thermo Fisher Scientific, Merck KGaA, GENERAL ELECTRIC COMPANY, Albany Molecular Research Inc, Charles River, Evotec AG, Pharmaceutical Product Development, LLC., Jubilant Biosys . Jubilant Life Sciences Ltd., Covance Inc., GenScript, Aurigene Discovery Technologies, WuXi AppTec, Syngene, Viva Biotech (Shanghai) Ltd, SRI International, Domainnex.
Market Definition: Global Drug Research Outsourcing Market
Drug discovery outsourcing is the process used to find new drugs or drugs in various fields such as pharmacy, pharmacology, and biotechnology. The search for active ingredients is a very time-consuming process and the success rate is sometimes very low. Many small companies that develop drugs sell them to the big companies so they can do the studies and see whether drugs are useful or not. The increasing use of artificial technologies in drug research is stimulating the outsourcing market for drug research.
- The increasing use of AI in drug discovery is driving the market
- Technological progress and development are driving the growth of this market.
- The high cost of outsourcing drug discovery is holding back growth in this market.
- The increasing risk of drug failure is holding back growth in this market
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Important developments in the market:
- In November 2018, Schrödinger and WuXi jointly announced the launch of their new company Faxian Therapeutics, which will leverage Schrödinger’s computer technologies and WuXi’s drug design and synthesis services to find new drugs that meet people’s needs. This new company will be headquartered in New York.
- In June 2016, BioDuro, LLC, together with Formex, announced the establishment of the BioDuro organization to offer solutions for integrated drug discovery and development, API synthesis and optimization, formulation and cGMP manufacturing of drugs. The main goal is to meet the increasing demand for new drugs in the market and expand their business worldwide.
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Key findings in the report:
- Complete and unambiguous analysis of market drivers and barriers
- Important market participants in this branch
- Detailed analysis of the market segmentation
- Competitive analysis of the main players involved
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