The analysts forecast global drug discovery outsourcing market to grow at a CAGR of 12.13% during the period 2018-2022. One trend in the market is increased demand for regenerative medicine.
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Regenerative medicine is a branch of medicine, which develops processes to regrow, repair, and replace damaged and diseased cells, organs, or tissues.
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Regenerative medicine is used for therapeutic stem cells lines, tissue engineering, and the production of artificial organs. It studies areas such as stem cell lines, which include adult and embryonic stem cells and various types of progenitor cells present in the blood of the umbilical cord for treating diseased and damaged cells, tissues, and organs.
Major key players in the global drug discovery outsourcing market: Charles River, Domainex, EVOTEC, GenScript, and GVK Biosciences.
According to the drug discovery outsourcing market report, one driver in the market is prioritization of core competencies. Over the last few years, major pharmaceutical companies have been outsourcing a part or all of their manufacturing activities to contract manufacturers as they do not consider manufacturing as their core activity, but innovation and brand building as the core activity.
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Further, the drug discovery outsourcing market report states that one challenge in the market is limited manufacturing standardization. The pharmaceutical industry deals with a large amount of data every day such as prescriptions, billing of patients, and procurement details.
Contract manufacturers for drug discovery also need to be updated on these data and abide by similar regulatory stringency. There is a rising demand for contract research and manufacturing organizations to manufacture and discover drugs by pharmaceutical companies.
Key questions answered in this report:
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
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