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Drug Discovery Outsourcing Services Market Trends

Report ID: GMI6632
Published Date: Sep 2023
Report Format: PDF

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Drug Discovery Outsourcing Services Market Trends

The worldwide burden of chronic diseases is increasing rapidly. Chronic diseases including oncology, diabetes, neurological disorders, chronic kidney diseases (CKD), chronic respiratory diseases (CRD), and cardiac stroke are the primary causes of disability and mortality around the world.

Cardiovascular diseases hold for over half of total chronic disease deaths, whereas diabetes and obesity are witnessing a significant increase owing to their earlier onset and widespread prevalence. As a result, there is a significant demand for the novel drugs and therapies to control and treat chronic diseases that in turn has propelled the growth for the drug discovery outsourcing services across the globe.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Drug discovery outsourcing industry size was valued at USD 4.4 billion in 2022 and will register 8.2% CAGR from 2023-2032 due to the rising focus on specialized areas, such as rare diseases and precision medicine, worldwide.

Drug discovery outsourcing industry from the biological service type segment may witness 9.7% CAGR from 2023-2032 on account of its ability to facilitate the identification and development of potential therapeutic compounds.

North America recorded 50.3% share of the drug discovery outsourcing industry in 2022 and is expected to register significant CAGR from 2023-2032 owing to the presence of strong pharmaceutical industry and advanced research infrastructure in the region.

Charles River Laboratories International, Inc. IQVIA (Quintiles IMS Holdings, Inc.), Laboratory Corporation of America Holdings (Covance Inc.), and Thermo Fisher Scientific, Inc. are some of the major drug discovery outsourcing companies worldwide.