Drug Discovery Outsourcing Market Set to Grow, Report Says

The drug discovery outsourcing market has grown significantly over the past two decades and will be worth US$16.21bn by 2015.

In 2010, the global discovery outsourcing market was valued at US$8.30bn. According to a report by London-based business information provider Visiongain, the drug discovery outsourcing market has grown significantly over the past two decades and will be worth US$16.21bn by 2015,

A key market driver for outsourcing is cost reduction, the Drug Discovery Outsourcing: World Market 2011-2021 report says. Others include the reduction of time-to-market and the increased efficiency afforded by outsourcing drug discovery.

The need to outsource is a result of the significant financial challenges facing the global biopharmaceutical industry. The cost of bringing a drug to market has steadily risen over the past 20 years. This has put immense pressure on drug