Cancer Immunotherapy Drug Discovery Outsourcing Market Growth Forecast: Exploring Trends and Opportunities for the Next Decade
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What fueled the previous growth in the cancer immunotherapy drug discovery outsourcing market?
The cancer immunotherapy drug discovery outsourcing market has grown rapidly in recent years. It will increase from $1.5 billion in 2024 to $1.68 billion in 2025, at a compound annual growth rate (CAGR) of 11.6%. This growth is linked to the increasing incidence of adverse drug reactions, demand for genomic testing, the rising global cancer incidence, the need for targeted therapies, and an increase in clinical trials.
What will be the cancer immunotherapy drug discovery outsourcing market size in the future?
The cancer immunotherapy drug discovery outsourcing market is expected to grow to $2.57 billion by 2029 at a CAGR of 11.3%. Growth drivers include the increasing importance of personalized medicine, a rise in diagnostic tests, a growing focus on personalized cancer therapies, higher healthcare spending, and increased cancer awareness. Major trends include advancements in diagnostic technologies, next-generation sequencing, the use of artificial intelligence, liquid biopsy technologies, and the development of point-of-care diagnostic tools.
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What main drivers are fueling expansion in the cancer immunotherapy drug discovery outsourcing market?
The high cost of in-house research and development is expected to propel the growth of the cancer immunotherapy drug discovery outsourcing market. By outsourcing R&D, companies can access specialized expertise and reduce costs. In June 2023, the European pharmaceutical industry reported a 6.45% increase in R&D expenditure, showing the rising need for outsourcing in cancer drug discovery.
What key areas define the segmentation of the global cancer immunotherapy drug discovery outsourcing market?
The cancer immunotherapy drug discovery outsourcing market covered in this report is segmented –
1) By Drug Type: Monoclonal Antibodies, Immunomodulators, Oncolytic Viral Therapies And Cancer Vaccines, Other Drug Types
2) By Service Type: Target Identification And Validation, Lead Screening And Characterization, Cell-Based Assays
3) By Therapeutic Area: Lung Cancer, Breast Cancer, Melanoma, Other Therapeutic Areas
Subsegments:
1) By Monoclonal Antibodies: Checkpoint Inhibitors, Therapeutic Monoclonal Antibodies, Bispecific Antibodies, Antibody-Drug Conjugates (ADCs)
2) By Immunomodulators: Cytokines, Immune Checkpoint Modulators, Toll-Like Receptor Agonists, Immune Adjuvants
3) By Oncolytic Viral Therapies And Cancer Vaccines: Oncolytic Virus-Based Therapies, Cancer Vaccines, Viral Vectors For Immunotherapy
4) By Other Drug Types: Adoptive Cell Therapy, Immune Cell Modulators, Small Molecule Immune Modulators, Gene Editing And Immunotherapy
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Who are the dominant players expanding their reach in the cancer immunotherapy drug discovery outsourcing market?
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
How are evolving market trends shaping cancer immunotherapy drug discovery outsourcing Strategies?
Companies in the cancer immunotherapy drug discovery outsourcing market are forming strategic partnerships to support the production of cancer drugs. For example, in February 2022, Ono Pharmaceutical Co., Ltd. (Japan) and Bristol-Myers Squibb (US) entered into an outsourcing agreement with the Prime Research Institute for Medical Research (Japan) to conduct clinical research on gastric cancer patients treated with Opdivo in combination with chemotherapy. This multi-institutional study will assess the effectiveness of the combination therapy, using a data management system to streamline research efforts.
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Which regions are emerging as leaders in the cancer immunotherapy drug discovery outsourcing market?
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.
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