New York, Sept. 08, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Outsourcing Market for Drug and Medical Device Development: Services and Technologies" - https://www.reportlinker.com/p05962040/?utm_source=GNW
The geographic scope of this study covers the U.S. and companies worldwide.
Report Includes:
- 22 data tables and 25 additional tables
- An overview of the global outsourcing market for drug and medical device development and discussion on their services and technologies
- Analyses of global market trends, with data from 2018, 2019, estimates for 2020, and projections of compound annual growth rates (CAGRs) through 2025
- Identification of key challenges and opportunities in the drug and medical device development market and coverage of products and services related to different sectors of the industry
- Information on ISO, GLP, cGMP regulatory aspects in drug development and discussion on their importance related to certification of specific facilities
- A look at the ongoing activities in drug and device development process, their budget, timeline, resources and processes
- Insights into regulatory framework, investment analysis, growth indicators and key decision supporting factors and evaluation of current market size, market forecast, and market share analysis of the leading players of the industry
- Comprehensive profiles of major players in the industry, including Sterling Medical Devices, Evotec SE, Ajinomoto Althea, Eurofins Scientific, Charles River Laboratories Inc. and DeviceLab
Summary:
Drug development and commercialization is an expensive, lengthy and risky process.
Bringing a new drug/therapy to the market requires three main steps: discovery, development and commercialization. Each of these steps consist of number of stages that can lead to successful product on the market.
Outsourcing has become one of the main strategies to reduce the cost and time of drug or device development.
For example, there are contract research organizations (CROs) that specialize in the drug discovery stage, offering solutions for target screening, validation and lead optimization. Other companies focus on animal studies, pharmacokinetics or assay development.
Contract development and manufacturing organizations (CDMOs) and contract manufacturing organizations (CMOs) are also essential parts of the drug development process.These companies supply manufacturing services for different stages of preclinical and clinical research.
Formulation development and bioanalytical testing are also outsourced to variety of vendors.
To conduct clinical trials, many medium-size and small biotech companies outsource specific activities such as study design, patient recruitment and other associated services.
Medical device development represents a unique sector due to its specific design, regulatory and manufacturing needs.
Overall, the outsourcing market can be viewed and analyzed by different stage of drug/device development process.
Importantly, pharma companies have different outsourcing needs than smaller biotech and start-ups. In sum, each development activity can be outsourced to vendors with the required experience and knowledge.
This report will describe current trends, products, evolving technologies and new services in the outsourcing industry for drug and medical device development. It will evaluate current situation and forecast possible outcomes of this market for the next five years.
Read the full report: https://www.reportlinker.com/p05962040/?utm_source=GNW
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