Pharma R&D Outsourcing Global Market Report 2022: Emergence of Artificial intelligence (AI) in Drug Discovery & Development Presents Lucrative Opportunities

DUBLIN, Nov. 10, 2022 /PRNewswire/ -- The "Pharma R&D Outsourcing Market - Global Outlook & Forecast 2022-2027" report has been added to  ResearchAndMarkets.com's offering.

In a world of exponentially growing information, increasingly sophisticated technology, and an unstable economic environment, pharmaceutical corporations are increasingly outsourcing research efforts to academia and private contract research organizations (CROs).

The pharmaceutical R&D outsourcing market is expected to grow as pharmaceutical and biotechnology companies spend more on outsourced services. Outsourced R&D activities span basic research through late-stage development, including genetic engineering, target identification, target validation, assay creation, hit discovery and lead optimization (hit candidates-as-a-service), safety and efficacy assessments in animal studies, and human clinical trials.

MARKET DYNAMICS

Paradigm Shift Towards Virtual Clinical Trials

• Virtual clinical trials or decentralized clinical trials can bring significant digital changes to clinical research methods and enhance the patient-centric ecosystem. These solutions include countless benefits such as technology, advanced applications, electronic devices, online social engagement platforms, artificial intelligence (AI), robotic process automation, and machine learning (ML).
• Patient recruitment is the most prominent cause of clinical delay, followed by significant patient absenteeism. Approximately 30% of phase 3 study discontinuances are said to be due to difficulty recruiting patients. These delays can cost pharmaceutical companies/sponsors up to USD 8 million daily. However, a complete digital or cross model of patient enrolment is employed in decentralized clinical trials. This helps reach the recruitment target easily and rapidly, making the entire process easy, and engaging.

The Emergence of Artificial intelligence (AI) in Drug Discovery & Development

• Artificial intelligence (AI) is used in numerous areas across the world. In healthcare, especially in the pharmaceutical industry, AI is making a notable change as it has varied uses in drug discovery & development, clinical trials, and pharmaceutical productivity. The life cycle of a new drug from a lab to a store is a chain of many complex events that take time and development. Such difficult circumstances can be minimized with the help of AI, and the target can be achieved in a short time.
• Many pharmaceutical companies implement innovative technologies such as AI and machine learning to achieve high-quality results in a short amount of time. In pharmaceutical product development, AI can manage the drug designing, decision making, and therapy determination for patients with personalized medicines; the generated clinical data can be stored for future drug development.
• Global key players from the pharma and biotech industry, such as Eli Lilly Amgen, Merck, LEO, AstraZeneca, Bayer, Novartis, J&J, and BASF, are now a part of machine learning for pharmaceutical discovery.

Increasing Collaboration and partnership among CROs and Stakeholders of the Pharmaceutical Ecosystem

• New models are emerging, and the first innovation comes from the Clinical Research Organization (CRO). CROs establish early chemical / biological entry points for the disease, approach potential interested companies, and collaborate on integrated drug discovery projects that they have identified. Strategic partnerships have long been an essential feature of the pharmaceutical industry. Numerous in-licenses, out-licenses, joint research, and joint development agreements exist between biopharmaceutical companies and academic research institutes.
• In recent years, several significant outsourcing partnerships were done, such as the UK-based AstraZeneca partnering with academic organizations, the Cambridge University, focusing on drug development. It partnered with the University of Texas MD Anderson Cancer Center in the United States to develop immunotherapy.

SEGMENTATION ANALYSIS

Segmentation by Product Type

• Small Molecules
• Biologics

Segmentation by Stage of Development

• Clinical
• Non-Clinical

Segmentation by Company Size

• Small & Mid-Sized Companies
• Large Companies

Segmentation by Therapy Area

• Oncology
• Cardiovascular Diseases
• Infectious Diseases
• Musculoskeletal Disorders
• Central Nervous System Disorders
• Gastrointestinal Disorders
• Other Therapy Areas.

Segmentation by Geography

• North America
• US
• Canada
• Europe
• Germany
• UK
• France
• Italy
• Spain
• APAC
• China
• Japan
• India
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• Turkey
• UAE

Key Vendors

• Charles River Laboratories
• ICON
• IQVIA
• Labcorp Drug Development
• Medpace
• Parexel International Corporation
• Syneos Health
• Thermo Fisher Scientific
• Wuxi AppTec
• Lonza
• Boehringer Ingelheim
• Samsung Biologics

Other Prominent Vendors

• AbbVie
• Advanced Clinical
• BioAnalytix
• Asymchem
• Alcami
• Bavarian Nordic
• Catalent
• Curia Global
• ChemPartner
• CMED
• Criterium
• Cromos Pharma
• Evotec
• Jubilant HollisterStier
• KBI Biopharma
• KCR S.A.
• Kemwell Biopharma
• Mesned Pharma Consult Center
• Midas Pharma
• Medelis
• Merck KGaA
• OCT Clinical
• Pharmaceutics International
• ProTrials Research
• PROMETRIKA
• QPS
• Singota Solutions
• Sofpromed
• Sanofi
• Taros chemicals
• Veristat
• Worldwide Clinical Trials
• WuXi Biologics
• Wacker Biotech B.V

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage

5 Report Assumptions & Caveats

6 Market at a Glance

7 Introduction

8 Premium Insights

9 Market Opportunities & Trends

10 Market Growth Enablers

11 Market Restraints

12 Market Landscape

13 Stage of Development

14 Product

15 Company Size

16 Therapy Area

17 Geography

18 North America

19 Europe

20 APAC

21 Latin America

22 Middle East & Africa

23 Competitive Landscape

24 Key Company Profiles

25 Other Prominent Vendors

26 Report Summary

27 Quantitative Summary

28 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/38h2j9

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SOURCE Research and Markets