PUBLISHER: The Business Research Company | PRODUCT CODE: 1509597
PUBLISHER: The Business Research Company | PRODUCT CODE: 1509597
Cancer immunotherapy drug discovery outsourcing is a specialized service model within the pharmaceutical and biotech sectors. It involves entrusting aspects of cancer immunotherapy drug development to external service providers, typically contract research organizations (CROs) or contract development and manufacturing organizations (CDMOs). This approach accelerates innovation by leveraging external expertise and resources, allowing pharmaceutical companies to concentrate on their core activities.
The primary drug types involved in cancer immunotherapy drug discovery outsourcing include monoclonal antibodies, immunomodulators, oncolytic viral therapies, cancer vaccines, and others. Monoclonal antibodies are laboratory-made molecules that mimic the immune system's ability to target specific proteins on cancer cells, aiding in fighting off harmful pathogens. The services provided encompass target identification and validation, lead screening and characterization, and cell-based assays utilized in therapeutic areas such as lung cancer, breast cancer, melanoma, and others.
The cancer immunotherapy drug discovery outsourcing market research report is one of a series of new reports from The Business Research Company that provides cancer immunotherapy drug discovery outsourcing market statistics, including cancer immunotherapy drug discovery outsourcing industry global market size, regional shares, competitors with a cancer immunotherapy drug discovery outsourcing market share, detailed cancer immunotherapy drug discovery outsourcing market segments, market trends and opportunities, and any further data you may need to thrive in the cancer immunotherapy drug discovery outsourcing industry. This cancer immunotherapy drug discovery outsourcing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cancer immunotherapy drug discovery outsourcing market size has grown rapidly in recent years. It will grow from $1.35 billion in 2023 to $1.5 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth observed during the historic period can be attributed to several factors, including the rising incidence of adverse drug reactions, an increasing demand for comprehensive genomic testing, the global rise in cancer incidence, an expanding need for targeted therapy, and a growing number of clinical trials.
The cancer immunotherapy drug discovery outsourcing market size is expected to see rapid growth in the next few years. It will grow to $2.31 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The anticipated growth in the forecast period can be attributed to several factors, including the growing significance of personalized medicine, the increasing availability of diagnostic tests, a heightened focus on personalized cancer therapy, rising healthcare expenditure, and the growing awareness of cancer incidence. Major trends expected in the forecast period encompass advancements in diagnostic technologies, the adoption of next-generation sequencing (NGS), the integration of artificial intelligence (AI), advancements in liquid biopsy technologies, the development of point-of-care companion diagnostic devices, and innovative testing technologies.
The escalating expenses associated with research and development (R&D) are projected to drive the expansion of the cancer immunotherapy drug discovery outsourcing market. The substantial R&D costs stem from the necessity of specialized expertise, costly equipment, and the inherent risks linked with innovation. The outsourcing of drug discovery activities taps into the economies of scale provided by contract research organizations (CROs), enabling smaller biotech firms and startups to optimize their R&D budgets and allocate resources more efficiently, thereby enhancing cost-effectiveness. For instance, in June 2023, as reported by the European Federation of Pharmaceutical Industries and Associations (EFPIA), the total pharmaceutical R&D expenditure in Europe reached $49,500 million (€44,500 million) in 2022, marking a rise of around 6.45% from $46,500 million (€42,533 million) in 2021. Consequently, the exorbitant costs associated with in-house research and development are fueling the growth of the cancer immunotherapy drug discovery outsourcing market.
Key players in the cancer immunotherapy drug discovery outsourcing market are embracing a strategic partnership approach to bolster cancer drug production and gain competitive advantages. Strategic partnerships typically involve collaborative relationships among two or more organizations, pooling their resources, expertise, and efforts to achieve common goals or objectives. For instance, in February 2022, Ono Pharmaceutical Co., Ltd., a Japan-based pharmaceutical company, and Bristol-Myers Squibb, a US-based biopharmaceutical company, forged an outsourcing agreement with Prime Research Institute for Medical Research, Inc., a Japan-based research institute, for a joint clinical research project focused on gastric cancer patients treated with Opdivo (nivolumab) in combination with chemotherapy. This collaborative initiative, sponsored by the industry, encompasses a large-scale, multi-institutional study employing PRiME-R's CyberOncology data input support system, facilitating the standardization, structuring, management, and integration of real-world data in routine cancer clinical practice. The clinical research, utilizing CyberOncology, assesses the effectiveness of Opdivo combined with chemotherapy for untreated advanced or recurrent gastric cancer. Involving approximately 30 medical institutions nationwide, the study aims to streamline data input, improve data accuracy, and expedite analysis.
In February 2021, Charles River Laboratories, a US-based pharmaceutical company specializing in drug delivery products and services, acquired Cognate BioServices for $875 million. This acquisition positions Charles River to enhance its capabilities in cell and gene therapy development, testing, and manufacturing, while also complementing its existing range of non-clinical services, thereby offering clients comprehensive solutions spanning from initial research and discovery to CGMP production. Cognate BioServices, based in the US, is a contract manufacturing company specializing in the production of cellular immunotherapy and immune-oncology products.
Major companies operating in the cancer immunotherapy drug discovery outsourcing market are Thermo Fisher Scientific Inc., Danaher Corporation, Laboratory Corporation of America Holdings (LabCorp), Eurofins Scientific SE, WuXi AppTec Co Ltd., Charles River Laboratories International Inc., PerkinElmer Inc, Bio-Rad Laboratories Inc, QIAGEN N.V., Evotec SE, Shanghai ChemPartner Co. Ltd., Aragen Life Sciences Limited, GenScript Biotech Corporation, BGI Genomics Co. Ltd., NeoGenomics Laboratories Inc, ARUP Laboratories, Syngene International Limited, BioDuro-Sundia, Ambry Genetics Corporation, Selvita, Crown Bioscience International, CENTOGENE N.V., Jubilant Biosys, Oncodesign Services, Icagen Inc., Reaction Biology Corporation, ChemBridge Corporation
North America was the largest region in the cancer immunotherapy drug discovery outsourcing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cancer immunotherapy drug discovery outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the cancer immunotherapy drug discovery outsourcing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The cancer immunotherapy drug discovery outsourcing market includes revenues earned by entities by providing services such as preclinical testing, clinical trial support, and biomarker discovery. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Cancer Immunotherapy Drug Discovery Outsourcing Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cancer immunotherapy drug discovery outsourcing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cancer immunotherapy drug discovery outsourcing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cancer immunotherapy drug discovery outsourcing market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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