Target Identification & Screening, Target Validation & Functional Informatics, Lead Identification & Candidate Optimization, Preclinical Development
Global Drug Discovery Outsourcing Market
Dublin, June 28, 2022 (GLOBE NEWSWIRE) — The “Drug Discovery Outsourcing Market Size, Share & Trends Analysis Report by Drug Type (Small, Large Molecules), by Therapeutic Area (Respiratory System, Immunomodulation), by Workflow, and Segment Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.
The global drug discovery outsourcing market size is expected to reach USD 6.3 billion by 2030 at a CAGR of 7.4%
The COVID-19 pandemic has brought pharmaceutical companies in limelight. Drug discovery is a costly and lengthy process. This has urged pharmaceutical and biotech companies to opt for outsourcing their research activities to academic and private Contract Research Organizations (CROs).
Rising partnerships between public or private entities accelerate drug discovery processes, which, in turn, increase the global demand for outsourcing services for drug discovery.
This scenario is expected to sustain post the covid implications as well. A rise in cases of chronic diseases has urged companies to develop medicines that extend life expectancy. According to the United Nations, people aged 65 years between 2015 and 2020 are expected to live an additional 17 years.
Some of the key therapeutic areas where companies are actively involved in outsourcing include oncology, cardiovascular, and anti-infectives. In November 2020, AstraZeneca collaborated with 9 of the…