World Pharmaceutical Outsourcing Market Gains Traction, States IQ4I Research and Consultancy in Its Report Available at MarketPublishers.com22 Jun 2016 • by Natalie Aster
LONDON – Over the past 20 years, the pharmaceutical and biotechnology industry has gone through dramatic changes. The considerable downsizing of the internal R&D capacity of big pharmaceutical products, patent expiries, move towards biological drugs have witnessed a hike in the externalisation and outsourcing activities. As the industry is seeking fresh sources of discovery and innovation with restricted resources, there is a surging preference to move towards externalisation and readiness to grasp the concept of outsourcing, around 15% of the pharmaceutical and biotech R&D spending goes into pharmaceutical research.
The world pharmaceutical outsourcing market value stood at USD 95.5 billion in 2013, with just under 50% going to CROs. Present-day R&D outsourcing penetration is estimated to be nearly 50% of the global pharma and biotech sector expenditure; however, it is set to register a 12.5% CAGR in the offing. The leading 50 pharma and biotech firms captured over 95% and the top 20 grabbed 84% of the total R&D spending amid the major 100 companies reviewed.
Biological drugs are expected to grow faster over the projected future as against small molecules. The growth is due to a hike in biologics R&D expenditure and faster approval time. Mealtime, factors restraining biologics growth comprise a tedious process of drug discovery and high costs, amid others.
Syngene, Evotec, Charles River Laboratories, TCG Lifesciences, Pharmaceutical Product Development, WuxiApptec, GVK Biosciences, ChemPartner, Aurigene, Advinus, Jubilant Biosys, and AMRI are the leading drug discovery outsourcing (DDO) industry players.
In-demand research report “Drug Discovery Outsourcing Global Market – Forecast To 2022” developed by IQ4I Research and Consultancy provides a comprehensive evaluation of the DDO marketplace on a global level. It covers all segments, worldwide trends and emerging strategies of the outsourcing domain pertaining to pharmaceutical research. The identifies and analyses the potential of the market; gives insights into customer base, number of deals between CRO’s and pharma & biotech firms, worldwide FTE rates, employee strength & number of firms, revenue-per-employee of top players, therapeutic field gap assessment and successful research cooperation outcomes of a selected group of CRO’s and sponsors, which are anticipated to impact the DDO market in the offing. The report analyses the major players by capabilities, therapeutic focus area, business models, geographical presence, financials, collaborations, different marketing strategies, etc.
More reports elaborated by the publisher can be found at IQ4I Research and Consultancy page.