
Report ID: SQMIG35C2011
Skyquest Technology's expert advisors have carried out comprehensive global market analysis on the drug discovery outsourcing market, covering regional industry trends and market insights. Our team of analysts have conducted in-depth primary and secondary research to provide regional industry analysis and forecast of drug discovery outsourcing market across North America, South America, Europe, Asia, the Middle East, and Africa.
As per the drug discovery outsourcing market outlook, North America dominated the market and had the largest share of over 35.5% in global revenue. Regional market growth can be attributed to technological advances, well-established research infrastructure & presence of key players, and more investment in drug discovery. The industry is emerging as a destination for drug discovery outsourcing due to skilled manpower, low costs, favorable regulatory environment and quality of information. Chronic disease affects an estimated 60% of the population, with chronic conditions comprising one or more such diseases in approximately half the US population. The rising awareness about the biologics is fueling demand for innovative drugs in the region, thereby supporting North America drug discovery outsourcing market growth.
According to drug discovery outsourcing market analysis, the Asia Pacific region is witnessing the fastest growth in the market. Owing to the availability of skilled manpower, lower cost, favorable regulatory environment and quality data, the region is fast emerging as a centre for outsourcing drug development activities. As the second largest market in the world, Japan is expected to provide strong opportunities for CROs, thereby driving the market. The revised pharmaceutical regulations support research is carried out in neurology and oncology in Japan, which is expected to boost the market in this country. The Japan Agency for Medical Research and Development (AMED) was created to manage data on research and clinical trials, improve R&D processes, and promote international strategies.
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Report ID: SQMIG35C2011
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