Drug Discovery Outsourcing Market Holds Growth of $4.4 Billion By 2025: Grand View Research, Inc.8/30/2018 The global drug discovery outsourcing market size is expected to reach USD 4.44 billion by 2025 at an 8.14% CAGR, according to a new report by Grand View Research, Inc. Urging need to identify potential drug candidates for various chronic diseases is anticipated to fuel growth.
Technological advances in in silico drug designing and accelerating integration of Artificial Intelligence (AI) in drug discovery are driving industry progress. Multiple applications of AI algorithms in drug design and discovery provide opportunities for players to offer specialized drug discovery services. It is useful for processes such as target and compound selection, predictive analytics, screening, and drug repurposing. Projected rise in adoption of outsourcing over the forecast period is expected to boost market revenue generation. Half of the drug discovery processes are anticipated to be outsourced, thereby creating massive opportunities for CROs, CMOs, and CDMOs to expand their market presence. Number of collaborations among these organizations, key pharmaceutical players, and several universities has increased over the past few years. This rise in alliance further supports the projected increase in growth potential. High cost and high risk of drug failure are major challenges faced in drug discovery. However, advances in technology that increase efficiency of drug discovery, coupled with increased adoption of highly advanced technology to provide specialized services, allow outsourcing companies to overcome these challenges. Full Research Report On Global Drug Discovery Outsourcing Market By Grand View Research: www.grandviewresearch.com/industry-analysis/drug-discovery-outsourcing-market Further key findings from the report suggest:
www.grandviewresearch.com/industry/pharmaceuticals Grand View Research has segmented the global drug discovery outsourcing market on the basis of workflow, therapeutic area, drug type, and region: Drug Discovery Outsourcing Workflow Outlook (Revenue, USD Million, 2013 - 2025)
www.grandviewresearch.com/press-release/global-drug-discovery-outsourcing-market About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information: www.grandviewresearch.com
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