The Drug Discovery Outsourcing Market demand is anticipated to expand its roots at a steady CAGR of 7.2% between 2023 and 2033. The market is anticipated to cross a market share of US$ 7.52 billion by 2033, which is likely to be valued at US$ 3.75 billion in 2023.
Expanding the pharmaceutical industry and the higher penetration of digital technology and AI integration are transforming the market. Furthermore, the research and development procedure and the expansion of drug discovery vendors in emerging economies like China and India fuel the market growth.
A massive portion of the research around small and large drug molecules (80%) is outsourced through pharma giants. This is due to the cheaper costs, easy workflow, increased workforce, and enhanced quality.
The transformed drug industry with synergistic drugs and advanced anti-infection drugs is also shaping the market dynamics. At the same time, virus outbreaks such as Ebola and Coronavirus are increasing the market's consumer base.
Government policies integrate their medical policies, allowing pharma giants to collaborate and build the advanced drug discovery space. Thus, the demand for outsourced drug delivery services is in high demand.
The surge in respiratory patients with issues like tuberculosis, bronchitis, etc., also consumes a big chunk of the market. These conditions have increased lately as the post-corona impacts.
