A new report by visiongain, a London-based
business information provider, predicts that the global drug discovery
outsourcing market will be worth $16.21bn by 2015.
The market generated $8.30bn in 2010, according to
Drug Discovery Outsourcing: World Market 2011-2021, published in July 2011.
The drug discovery outsourcing market has grown significantly over the past
decade. Many aspects of early-stage R&D are outsourced to contract research
organisations (CROs) with expertise in particular aspects of the drug discovery
process. A key market driver for outsourcing is the reduced costs of performing
functions such as custom synthesis, target validation and high-throughput
screening. Over the past five years, there has been a trend towards outsourcing
operations to Asia, with countries such as China, India and Taiwan benefiting from outsourcing activities. Our
analyses of this market suggest that off-shoring activities will continue as
drug manufacturers try to reduce their operating expenditures before the patent
expiries of more blockbuster drugs.
Dr Sharmarke Mohamed, healthcare industry
analyst, says: “We are now witnessing one of the most uncertain periods in the
history of the pharmaceutical industry. Over the past two decades, more money
has been pumped into R&D, yet the number of new chemical entities reaching
the clinic has essentially flat-lined and in some therapeutic areas this has
actually fallen. The industry is starting to realise that the top-down
blockbuster model of pharma R&D will not deliver the drugs of the
21st century. Many of the leading companies are now beginning to
embrace a more distributed model of pharma R&D where outsourcing to contract
research organisations will be a key aspect of discovery and development
operations. Strategic alliances with academic research laboratories will also be
more common and the trend towards outsourcing to Asia will continue.”
Visiongain predicts that this market will grow steadily to 2021. The future
of the drug discovery outsourcing market looks promising. This new report
complements visiongain’s wide range of analytical reports in healthcare and
other industries.
For more information on the report, please visit:
http://www.visiongain.com/Report/647/Drug-Discovery-Outsourcing-World-Market-2011-2021
