‘The Global Drug Discovery Outsourcing Market Will be Worth $16.21bn by 2015′ Says New visiongain Report
By Visiongain, PRNESunday, July 17, 2011
LONDON, July 18, 2011 -
www.visiongain.com/Report/647/Drug-Discovery-Outsourcing-World-Market-2011-2021
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
About visiongain
Visiongain is one of the fastest growing and most innovative
independent media companies in Europe. Based in London, UK,
visiongain produces a host of business-2-business conferences,
newsletters, management reports and e-zines focusing on the
Pharmaceutical, Telecoms, Energy, Defence and Materials sectors.
Visiongain publishes reports produced by its in-house analysts, who
are qualified experts in their field. Visiongain has firmly
established itself as the first port-of-call for the business
professional, who needs independent, high quality, original
material to rely and depend on.
For more information about the report please click on:
www.visiongain.com/Report/647/Drug-Discovery-Outsourcing-World-Market-2011-2021
For an exec summary please contact Sara Peerun: Email:
Tel: +44(0)207-336-6100
Web:
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Tags: July 18, London, United Kingdom, Visiongain
