Outsourced Drug Discovery Market: Latest Advancements & Market Outlook 2019 to 2026
New strategies adopted by key players related to outsourcing drug discovery is expected to drive growth of global outsourced drug discovery market. For instance, in June 2019, GlaxoSmithKline (GSK), a British drug manufacturing company collaborated with the University of California to establish a state-of-the-art laboratory for CRISPR technologies, the Laboratory for Genomics Research (LGR), in San Francisco. The new laboratory will investigate how gene mutations cause diseases, and also develop new technologies using CRISPR to rapidly accelerate the discovery of new medicines.
Furthermore, extension of partnership activities is expected to propel global outsourced drug discovery market growth. For instance, in March 2017, Charles River Laboratories (CRL) extended its partnership with Chiesi Farmaceutici. Under this partnership, Charles River Laboratories (CRL) extended its longstanding, strategic, integrated drug discovery program (Respiratory Program). The respiratory program is related to the preclinical drug development for treatment of respiratory diseases and rare diseases.
Increasing number of drug discovery companies is expected to drive growth of the global outsourced drug discovery market
Increasing number of new drug discovery companies is expected to drive the global outsourced drug discovery market growth. For instance, in November 2018, Schrodinger, LLC collaborated with Wuxi AppTec and launched new drug discovery company, Faxian Therapeutics (Headquarter– New York, U.S.). Faxian Therapeutics will utilize the Schrodinger, LLC’s computational platform and WuXi’s drug design and synthesis services to improve health care needs.
Moreover, rising drug discovery services is expected to propel growth of global outsourced drug discovery market. For instance, in April 2019, Eurofins Discovery Services, a contract research organization, launched new drug discovery service DiscoveryOne. The new approach is helpful for the drug discovery research activities and preclinical developments. Hence, launching of services related to drug discovery is expected to support the global outsourced drug discovery market growth.
Global Outsourced Drug Discovery Market - Competitive Landscape
Key players operating in the global outsourced drug discovery market are Aurigene Accelerating Discovery, Bioduro LLC, Charles River Laboratories (CRL), Chempartner, TCG Lifesciences, Evotec AG, Syngene International Ltd., Jubilant Biosys Ltd, Pharmaron Inc., Shanghai Medicilon, and Sundia Meditech Co. Ltd.
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Global Outsourced Drug Discovery Market, By Drug Type: Small Molecule Drugs, Large Molecule Drugs.
Global Outsourced Drug Discovery market, By Services: Preclinical Development, Target Validation and Functional Informatics, Target Identification and Screening, Lead Identification and Candidate Optimization, Others.
Global Outsourced Drug Discovery Market, By Application Oncology, Ophthalmology, Hematology, Immunomodulation, Anti-Infective Drugs, Dermatology, Pulmonology, Cardiology, Others.
Global Outsourced Drug Discovery market, By End User :- Pharmaceutical and Biotechnological Companies, Contract Research Organization, Contract Manufacturing Organization.
Global Outsourced Drug Discovery Market- Regional Analysis
North America outsourced drug discovery market is expected to account for the largest market share, owing to business expansion in this region. For instance, in January 2019, Lambda Therapeutic Research (Headquarter-India) acquired Novum Pharmaceutical Research Services, a U.S. CRO. With this acquisition, Lambda Therapeutic Research entered into the U.S. market.
Moreover, Europe is also projected to witness significant growth in the global outsourced drug discovery market, owing to increasing merger and acquisition activities by key players in the region. For instance, in February 2019, Optimapharm, a clinical research organization (CRO) in Europe acquired Denothex, a CRO, for strengthening its presence in the European market particularly in France, Spain, Switzerland, and Italy. Denothex conducts all clinical trials in oncology across Europe and Israel.
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