LONDON, July 18, 2011 /PRNewswire/ --
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.Notes for Editors Europe London, UK
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