Drug discovery is a
process of inventing a new medication in the field of pharmaceuticals,
biotechnology and pharmacology. Drug discovery is a complex, lengthycomplicated
and expensive process. This process is carried out in four stages namely,
target identification, target validation, high-speed screening and lead
optimization. Though advanced technologies are available, success rate of drug
discovery is very low and the time involved is relatively high.
The final stage of drug discovery involves obtaining a patent and
running clinical trials. Most of the drugs entering into clinical trials fail
and obsolete from the trials thus leading to waste of time, cost and efforts.
Generally, small pharmaceutical companies develop new drug molecules and sell
patent rights to big companies that can afford to conduct clinical trials. In
order to focus on core competencies such as manufacturing, marketing and
product labeling many companies outsource their drug discovery processes.
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Outsourcing of drug
discovery saves time, cost and efforts of the pharmaceutical and biological
companies. On the other hand companies providing outsourced services for drug
discovery are equipped with developed infrastructure, highly developed
technological front and skilled expertise. Rapidly progressing technologies,
reduced turn-around time, increasing strategic partnerships and development of
biosimilars, biologics and orphan drugs are some of the driving forces for the
growth of the global drug discovery outsourcing market.Though the market scope
for drug discovery outsourcing market is vast, increase in clinical research
organizations (CROs), regional expansion, niche CROs and public-private
partnerships is leading to increased competition that is restraining growth of
this market.
The market of drug
discovery outsourcing is segmented depending on various types of services
offered such as:
- Biological services
- Chemical services
- Lead Identification and screening
- Lead optimization
Especially countries
like China and India are promising regions, reason being many small
biopharmaceutical companies prefer outsourcing their drug discovery activities
to CROs in China and India. Some of the market players in this industry segment
are Galapagos NV, WIL Research Laboratories LLC, Albany Molecular Research,
Inc. and Domainex, Ltd.
This research report
analyzes this market depending on its market segments, major geographies, and
current market trends. Geographies analyzed under this research report
include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides
comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming
years
This report is a
complete study of current trends in the market, industry growth drivers, and
restraints. It provides market projections for the coming years. It includes
analysis of recent developments in technology, Porter’s five force model
analysis and detailed profiles of top industry players.
Reasons for Buying this
Report
- This report provides pin-point
analysis for changing competitive dynamics
- It provides a forward looking
perspective on different factors driving or restraining market
growth
- It provides a technological growth
map over time to understand the industry growth rate
- It provides a seven-year forecast
assessed on the basis of how the market is predicted to grow
- It helps in understanding the key
product segments and their future
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