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The global cancer immunotherapy drug discovery outsourcing market size was USD 8.05 Billion in 2022 and is expected to reach USD 20.59 Billion in 2032

NEW YORK , NY, UNITED STATES, May 8, 2023 /EINPresswire.com/ -- The market overview states that the size of the global cancer immunotherapy drug discovery outsourcing market was USD 8.05 Billion in 2022. It is projected to reach USD 20.59 Billion by 2032, with a compound annual growth rate (CAGR) of 11% during the forecast period. The primary drivers of market revenue growth are the increasing prevalence of cancer and the growing demand for effective medications to combat it.

The market's revenue growth is attributed to the increased investment in research and development for discovering new cancer immunotherapy drugs. Additionally, there is a trend to outsource drug discovery processes to specialized companies.

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Segments Covered in the Report

The market for outsourcing cancer immunotherapy drug discovery can be segmented based on service type. These segments include Target Identification & Validation, Hit Generation, Lead Optimization, Preclinical Development, and Others. These services play a crucial role in the drug discovery process, and their revenue is expected to contribute significantly to the market growth from 2019 to 2032.

Therapeutic Area Outlook: In terms of therapeutic areas, the market is further segmented into Lung Cancer, Breast Cancer, Melanoma, and Others. These segments represent specific types of cancers that require targeted immunotherapy treatments. The revenue generated from these therapeutic areas is projected to have a substantial impact on the overall market revenue during the forecast period.

Regional Outlook: The market overview also provides insights into the regional distribution of the outsourcing cancer immunotherapy drug discovery market. The regions considered in the analysis include North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

North America: This region comprises the United States, Canada, and Mexico. The high prevalence of cancer and advanced healthcare infrastructure in North America contribute to its significant share in the market revenue.

Europe: European countries such as Germany, the United Kingdom, France, Italy, Spain, Sweden, and BENELUX (Belgium, Netherlands, and Luxembourg) are included in this segment. Europe is expected to witness substantial growth in the market due to increased research and development activities and the presence of key players in the region.

Asia-Pacific: The Asia-Pacific region includes major economies such as China, India, Japan, South Korea, and other countries. Rising healthcare expenditure, a large patient population, and growing awareness about immunotherapy contribute to the market's growth in this region.

Latin America: Brazil and other countries in Latin America are considered in this segment. The region is expected to witness significant market growth due to the increasing prevalence of cancer and improving healthcare infrastructure.

Middle East & Africa: The Middle East & Africa segment includes countries like Saudi Arabia, the United Arab Emirates, South Africa, Israel, and other nations. The market in this region is driven by rising investments in healthcare and the increasing demand for cancer treatments.

These regional segments provide a comprehensive understanding of the market's geographic distribution and the potential for growth in each region.

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Strategic development:

In a strategic move, Charles River Laboratories International, Inc. successfully completed the acquisition of HemaCare Corporation on 3 January 2020. HemaCare is a renowned global provider of human-derived biological products and services, including immune cells, that are crucial in supporting the discovery, development, and commercialization of cell therapies. This acquisition strengthens Charles River Laboratories' position in the market by expanding their offerings in the field of cell therapies.

Another significant development took place on 2 March 2021 when WuXi AppTec Co., Ltd. acquired OXGENE, a biotech company based in the United Kingdom. OXGENE specializes in gene therapy development and cutting-edge gene editing technologies. By acquiring OXGENE, WuXi AppTec aims to enhance its capabilities and expertise in the field of cell and gene therapy research and development. This strategic move reinforces WuXi AppTec's commitment to advancing innovative solutions in the field of cell and gene therapies.

Competitive Landscape:

The competitive landscape in the field of pharmaceutical research and development includes several prominent companies that play a significant role in advancing scientific discoveries and delivering innovative solutions. Some key players in this landscape are Syngene International Ltd., Charles River Laboratories International, Inc., Lonza Group AG, WuXi AppTec Co., Ltd., Pharmaceutical Product Development, LLC (PPD), Covance, Inc., Pharmaron Beijing Co., Ltd., Patheon N.V., QualTek Molecular Laboratories, and Thermo Fisher Scientific Inc.

Syngene International Ltd. is a leading contract research organization (CRO) that provides integrated drug discovery and development services. Their expertise lies in areas such as medicinal chemistry, biology, in vitro and in vivo pharmacology, and toxicology.

Charles River Laboratories International, Inc. is a renowned global provider of preclinical and clinical laboratory services. They offer a wide range of solutions to support drug discovery, safety assessment, and manufacturing.

Lonza Group AG is a Swiss-based company that specializes in the development and manufacturing of pharmaceutical and biotechnology products. They provide services for cell and gene therapies, bioconjugates, and drug product manufacturing.

WuXi AppTec Co., Ltd. is a leading global CRO and Contract Development and Manufacturing Organization (CDMO). They offer a comprehensive range of services in drug discovery, development, and manufacturing, including cell and gene therapies.

Pharmaceutical Product Development, LLC (PPD) is a global contract research organization that offers services in clinical development, laboratory services, and post-approval research. They work with clients across the pharmaceutical, biotechnology, and medical device industries.

Covance, Inc. is a multinational contract research organization that provides services in drug development, clinical trials, and laboratory testing. They offer a wide range of capabilities to support the entire drug development process.

Pharmaron Beijing Co., Ltd. is a CRO with expertise in drug discovery, development, and manufacturing services. They specialize in medicinal chemistry, synthetic chemistry, and integrated drug metabolism and pharmacokinetics.

Patheon N.V., a Thermo Fisher Scientific company, offers contract development and manufacturing services for pharmaceutical products. They provide end-to-end solutions for formulation development, analytical services, and commercial manufacturing.

QualTek Molecular Laboratories is a molecular diagnostic company that focuses on providing accurate and reliable testing services. They specialize in genetic testing, including DNA sequencing and genetic profiling.

Thermo Fisher Scientific Inc. is a global leader in serving science and provides a wide range of laboratory equipment, reagents, consumables, software, and services. They offer solutions for various scientific disciplines, including pharmaceutical research and development.

These companies contribute to the competitive landscape by leveraging their expertise, technologies, and capabilities to support the advancement of pharmaceutical research, drug discovery, and development. Their contributions play a crucial role in bringing new treatments and therapies to market, ultimately benefiting patients worldwide.

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In conclusion, the global cancer immunotherapy drug discovery outsourcing market is highly competitive, with a few major players dominating the market. These companies are actively involved in developing new technologies and products, investing in research and development, and engaging in strategic partnerships and collaborations to maintain their market share and drive revenue growth.

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