Artificial Intelligence
Drug Discovery Outsourcing Market is projected to grow at a CAGR of 8.6% by 2033: Visiongain
As per the report by Visiongain, the Drug Discovery Outsourcing Market was valued US$9,930.9 million in 2022 and is projected to grow at a CAGR of 8.6% during the forecast period 2023-2033.
Visiongain has published a new report entitled Drug Discovery Outsourcing 2023-2033. Forecasts by Service Type (Chemistry Services, Biology Services), Workflow (Target Identification & Screening, Target Validation & Functional Informatics, Lead Identification & Candidate Optimization, Preclinical Development, Other Associated Workflow), Therapeutic Area (Oncology, Infectious Disease, Central Nervous System, Immunology, Cardiovascular Disease, Metabolic Disease, Respiratory Disease, Others), Molecule Type (Large Molecules, Small Molecules), End-users (Pharmaceutical & Biotechnology Companies, Academic Institutes, Others) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis
Strategic partnerships are also set to widen and evolve. Although CROs will work to develop new partnerships with third party players, they will also need to deepen their links with each other as well as with pharmaceutical companies. Partnerships between CROs and pharmaceutical companies will continue to reinforce in some areas, such as biosimilar growth, personalized medicine and companion diagnostics, orphan drugs, and expansion into emerging markets.
As the market continues to develop, innovate and adapt to meet the emerging needs of the pharmaceutical industry, technology will remain an important focus for CROs. When organizations try to increase patient recruitment into trials and optimize participation, for example, data management and IT practices will become increasingly relevant. There is still plenty of room for consolidation within the CRO sector, especially in the light of the increasingly competitive market environment for top and middle class CROs. A key differentiation between CROs is likely to result from the critical mass in terms of scale and global reach. More consolidation in Asian markets in particular is likely, as CROs expand their operations in emerging markets to meet the demands of their pharmaceutical company partners.
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How has COVID-19 had a Significant Impact on the Drug Discovery Outsourcing Market?
Traditional drug development is an expensive, time-consuming process with a high attrition rate. Contract research organisations (CROs) are increasingly being used as a key component of cost and risk reduction, capacity building, and data generation strategies. The pharmaceutical industry has been able to decrease internal infrastructure and research capacity thanks to the therapeutic and operational expertise of these CROs. Working with specialised CROs has accelerated the drug discovery process as well as increased success rates. Effective CROs are being used by large companies looking to diversify their dimensions and small businesses with promising molecules but limited resources. Currently, about one-third of the drug development processes worldwide are outsourced, and the data produced by the impartial third party is highly valued when regulatory submissions are made. In the upcoming years, the rising demand for healthcare, the COVID-19 pandemic or another impending health emergency, and recent developments in advanced technologies (machine learning, artificial intelligence, etc.) are likely to drive the global CRO market.
How will this Report Benefit you?
Visiongain’s 390-page report provides 134 tables and 186 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the drug discovery outsourcing market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Drug Discovery Outsourcing. Get financial analysis of the overall market and different segments including service type, workflow, therapeutic area, molecule type, and end-users capture higher market share. We believe that there are strong opportunities in this fast-growing drug discovery outsourcing market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Reduced Pharmaceutical and Biotech R&D Budgets
Pharmaceutical and biotech companies now look to their outsourcing partners to weigh up important strategic and implementation decisions as well. Price, time to market, and risk are leading more businesses to reduce their innovation dependency on internal R&D. It is common practice to outsource R&D and purchase the rights to goods from smaller companies. Pharmaceutical firms are gradually entering into long-term drug development alliances with other pharmaceutical firms, universities and smaller biotech companies. Price, flexibility / scalability and exposure to new / different talent pools are the main drivers for businesses outsourcing diverse R&D functions.
Emerging Markets are a Popular Destination for CROs
Drug discovery outsourcing in the pharmaceutical industry has been taking place for the last few decades. However, the global outsourcing market has grown considerably in recent years in response to the growing pressures felt by pharmaceutical companies. Outsourcing to China, India and South Korea are common practices as the CROs in these countries provide cheaper services owing to the reduced cost of labour and resources in Asia.
Increasingly, some of the large CROs provide a range of services spanning from drug discovery to clinical trials support. For pharmaceutical companies, the main advantage of outsourcing their drug discovery requirements is that they can reduce the cost of performing expensive in-house discovery research. This is particularly true when one considers the wide range of skill-sets and technologies (genomics, bioinformatics, and high-throughput screening) that go into the modern drug discovery process. By outsourcing drug discovery, the pharmaceutical industry makes considerable savings in all of these areas. In addition, putting a greater emphasis on early drug discovery outsourcing, rather than clinical research, may in the long-term reduce costs by reducing later stage failures. Development of in vitro toxicology screening assays and absorption, distribution, metabolism, and excretion (ADME) studies are areas that may benefit from this.
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Where are the Market Opportunities?
Initially, most pharmaceutical companies enter into outsourcing agreements with CROs because they want to harness the resources of the service provider. Innovator companies realize that they can achieve cost-savings and increased-efficiency by outsourcing their non-core competencies. For the most part, relationship remains a business venture. However, in some cases, pharmaceutical outsourcing can be the catalyst for establishing stronger business alliances. There have been many instances in which pharmaceutical companies have entered into such partnerships with CROs with the end-result being that the pharmaceutical company acquires the CRO. Such acquisitions are common when pharmaceutical companies feel that the expertise and services offered by the CRO are indispensable to their long-term objectives.
Competitive Landscape
The major players operating in the drug discovery outsourcing market are Aragen Life Sciences Pvt. Ltd. (GVK Biosciences), Charles River Laboratories, Curia Global, Inc., Dalton Pharma, Domainex, Eurofins, Evotec AG, Genscript, Jubilant Biosys Ltd., Laboratory Corporation of America Holdings, Pharmaron, QIAGEN N.V., Selvita, Sundia Meditech Co Ltd., Sygnature Discovery, Syngene International, Thermo Fisher Scientific Inc., and WuXi AppTec. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Recent Developments
- On 13th March 2023, Charles River Laboratories International, Inc. launched Apollo™, an industry-leading, secure, cloud-based platform for drug developers that provides access to study data, study milestones, documents, cost estimates, and program planning tools to save time and enhance the client experience. The platform’s current capabilities are designed to support clients with safety assessment and toxicology studies.
- On 18th January 2023, Eurofins Scientific acquired assets to establish a fully-equipped, state-of-the-art laboratory campus in Genome Valley, Hyderabad. The acquisition includes a facility capable of supporting large global and Indian pharmaceutical clients as well as small biotech companies in the areas of synthetic organic chemistry, analytical R&D, bioanalytical services (for both large and small molecules), in-vivo pharmacology, safety toxicology and formulation R&D. The state-of-the-art laboratories occupy over 90,000 ft2.
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About Visiongain
Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.
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Artificial Intelligence
How AIoT shapes the future of mobility: Hikvision at ITS World Congress 2024
HANGZHOU, China, Sept. 27, 2024 /PRNewswire/ — Hikvision made a significant impact at the ITS World Congress in Dubai with its captivating theme, “Embrace AIoT for safer, smarter, and greener mobility.” Its booth became a hub of innovation, where visitors explored AIoT solutions that are reshaping the transportation landscape, sparking deep conversations on the future of urban mobility.
Road safety revolution: harnessing AIoT for secure transportation
Hikvision’s commitment to road safety was on full display at its booth through the impressive array of AIoT solutions designed to create secure and reliable traffic environments. The company’s technology provides 24/7 traffic monitoring, ensuring continuous oversight of motor vehicles, non-motorized vehicles, pedestrians and environmental factors. This comprehensive, real-time information collection enables traffic managers to prevent accidents and enhance road safety. Among the showcased products was the 20 MP IR ANPR Checkpoint Capture Unit, renowned for its high-definition capture capabilities, bolstering traffic safety measures.
A standout innovation was the integration of advanced radar and camera technologies, ensuring uninterrupted, comprehensive detection even in adverse weather conditions. The Radar-Video Fusion Incident Detection Cameras, featured prominently in the product experience area, enable early detection and warning of potential hazards. They are particularly effective in challenging situations such as curved roads, blind spots at intersections, and obstacles beyond visual range.
Attendees also engaged with onboard monitoring products on the simulated bus, including dome network cameras, which is designed to enhance passenger safety. Driving assistance products, such as the Driver Status Monitor (DSM), were demonstrated to mitigate unsafe driving behaviors and ensure safer journeys.
Urban mobility redefined: smart traffic innovations
In the realm of smarter mobility, Hikvision showcased its multidimensional sensing technology, which integrates visible light sensors, infrared sensors, radar, and sonar. This technology expands perception capabilities, significantly improving traffic management and situational awareness. The use of AI-powered comprehensive sensing elevates incident monitoring and violation detection to unprecedented levels of accuracy and efficiency.
A major attraction was the Radar-Video Fusion TandemVu PTZ Camera, which integrates millimeter-wave radar with high-resolution cameras for extensive traffic detection and data analysis. AI-based algorithms combine these two systems to enhance target information, detecting up to 16 types of incidents. This leads to the development of a large-scale fusion model that merges spatial physical data with image semantic information. The result is ultra-long-range perception, achieving over 95% accuracy in vehicle trajectory detection. This robust system improves traffic violation management and optimizes traffic flow, significantly enhancing road efficiency.
At the simulated bus station, visitors observed how AI-assisted people counting automated the collection of passenger flow statistics at peak stop hours and bus line frequency during busy periods. Paired with smart bus stop digital signage, the solution improves bus service quality, operational efficiency, passenger experience, and overall public transport effectiveness.
Sustainable transportation: leading the charge for greener cities
Hikvision’s commitment to sustainable urban mobility was evident through its innovative green wave technology and eco-friendly checkpoint solutions. Green wave technology efficiently manages traffic flow to reduce congestion and lower carbon emissions, aligning with global sustainability goals. Visitors were particularly impressed by a case study showcasing a green wave solution implemented in Zhoushan, China. Over a stretch of 21 kilometers and 34 intersections, this main road cut travel times by 50%.
The use of DarkFighterX technology in checkpoint cameras also received significant attention. This technology senses both visible and invisible light, resulting in more accurate and realistic images. It enhances traffic violation enforcement efficiency while minimizing the need for high ambient light levels, thus reducing light pollution. The 9M DarkfightX ANPR Checkpoint Camera exemplified this dedication to environmental stewardship.
Frank Zhang, President of Hikvision MEA, remarked, “Hikvision supports sustainable urban planning by empowering traffic departments to address congestion and transportation challenges.” He further emphasized, “Our system’s openness fosters a secure and reliable platform for developing smart and green cities. Additionally, our solar technology is extensively utilized in remote areas, while our smart street lighting solutions reduce energy consumption by 20-30%, promoting intelligent urban transportation and advancing global sustainability objectives.”
Hikvision’s presence at the ITS World Congress in Dubai underscored its leadership in integrating AIoT technologies to drive safer, smarter, and greener mobility solutions. The engaging presentations and advanced product demonstrations captured significant attention from industry partners and customers, reaffirming the company’s role as a pioneer in shaping the future of urban transportation. As the world moves towards more intelligent and sustainable transportation systems, Hikvision remains at the forefront, embracing AIoT to create a safer, smarter, and greener future for all.
To find out more about Hikvision’s advanced traffic and public transport solutions, please explore the Hikvision official website.
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Artificial Intelligence
Anti-Drone Market worth $7.05 billion by 2029 – Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Sept. 27, 2024 /PRNewswire/ — The global anti-drone market was valued at USD 2.16 billion in 2024 and is projected to reach USD 7.05 billion by 2029; it is expected to register a CAGR of 26.7% during the forecast period according to a new report by MarketsandMarkets™. Increasing government spending on counter-drone technologies, rising incidence of critical infrastructure security breaches by unauthorized drones, and surge in adoption of aerial remote sensing technologies to safeguard critical infrastructure are attributed to the demand for anti-drone.
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Browse in-depth TOC on “Anti-Drone Market” 178 – Tables61 – Figures253 – Pages
Anti-Drone Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 2.16 billion
Estimated Value by 2029
$ 7.05 billion
Growth Rate
Poised to grow at a CAGR of 26.7%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By System Type, Application, Platform type, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Vulnerability to hacking
Key Market Opportunities
Emphasis on improving unmanned aircraft systems technology
Key Market Drivers
Growing number of illicit activities
By System Type: Hybrid systems to account for the larger market share in the forecasted year.
The hybrid segment accounted for the largest share of the anti-drone market in 2029. The trends of integrating multiple anti-drone technologies are rising since they are most effective in detecting, tracking, and neutralizing drone threats. These systems merge electronic, kinetic, and lasers, providing a comprehensive defense solution against UAVs. Hybrid systems use electronic, kinetic, and laser-based countermeasures to offer optimum protection against drones. These systems are designed to detect, track, identify, categorize, and mitigate drones at operational wide ranges ranging from a few km up to tens of km.
By Platform: The ground-based segment accounted for the largest market share in the forecast year.
The ground-based segment will hold a major share of the anti-drone market in 2029. Many ground-based anti-drone systems use several electronic technologies, such as radar, IR sensors, acoustic systems, and RF & GNSS jammers. MESA radar solutions are used mostly for counter-UAS purposes, protecting critical infrastructure, military camps, and other security-sensitive sites from unauthorized drones. One such solution is EchoGuard, a ground-based airspace management solution that contains a software-defined 3D radar that can be specific to the site. This system can identify single or multiple off-chance drones, including swarms in unauthorized areas. They provide accurate and sustained airspace surveillance for the field of view (FOV) they are configured, and both human and AI-monitored visual checks. The system can be easily transported and integrated directly with the command-and-control centers or another identification sensor for portable use, and multiple units of the system can be combined to cover vast areas or lengths of borders. Major providers of ground-based counter-drone systems include companies like EchoDyne Corporation, DeTect, Meteksan Defense, and WhiteFox Defense. Acoustics-based Discovair G2 utilizes patented microphone arrays. With 128 interconnected microphone elements, the Discovair sensor units can establish azimuth and elevation to the target in real-time using advanced digital signal processing.
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By Region: Americas are expected to hold the largest share of the anti-drone market during the forecast period.
Americas is expected to capture the largest share in the anti-drone industry during the forecast period. The growth can be attributed to protecting crucial infrastructure in the region. Governments, particularly in the US, invest in anti-drone systems for military bases, borders, and critical infrastructure. For Instance, in April 2023, RTX secured a USD 237 million contract from the US Army to provide Ku-band Radio Frequency Sensors (KuRFS) and Coyote effectors. These systems are designed to detect and neutralize unmanned aircraft systems (UAS). The contract includes stationary and mobile systems and a specified quantity of effectors, all aimed at enhancing the Army’s operations within the US Central Command region.
Key Players-
The key companies offering anti-drone companies include RTX (US), Lockheed Martin Corporation (US), Leonardo S.p.A. (Italy), Thales (France), and IAI (Israel).
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Artificial Intelligence
CluePoints Launches Medical & Safety Review (MSR) Software to Revolutionize Clinical Data Review
CluePoints furthers its commitment to delivering innovative solutions that enhance clinical trial efficiency with this latest addition to its enterprise software platform.
KING OF PRUSSIA, Pa., Sept. 27, 2024 /PRNewswire/ — CluePoints continues to transform clinical trial review and leverage its industry-leading software to enhance the interrogation, analysis and presentation of data with the launch of its latest application, Medical & Safety Review (MSR).
The tool simplifies and streamlines the medical analysis of study data through user-friendly dashboards, data manipulation and cleaning, query management and full transparency over the data history. This not only improves efficiency and communication in medical oversight, but also elevates patient safety, differentiating MSR as a smarter and unique solution.
Designed by, and for Medical and Safety Reviewers, MSR converts the manual analysis of patient outcomes, which can be prone to inefficiency and error, into an accurate, efficient process. MSR tackles time-consuming study preparation for specific visualizations by featuring a comprehensive standard visualization library as well as the ability to copy and reuse dashboards across different studies, enabling the identification of outlying values, change tracking, and improved communication for smarter clinical trials.
Other benefits of MSR include:
Enhanced medical review efficiency and reduced human errors via automated checksReduced time spent by clinical and data management teams in reviewing dataImproved collaboration with integrated review workflows across departmentsEnsured record quality and accountability with comprehensive change trackingDriving faster decision making with the proactive detection of trends and safety issuesEnsuring regulatory compliance with rule-based detection and user assignmentsAndy Cooper, Chief Executive Officer at CluePoints, commented, “We are thrilled to announce the launch of Medical & Safety Review to our growing product offerings. MSR is the latest application addition to the CluePoints platform, which includes products such as Risk-Based Quality Management (RBQM) and our Site Profile & Oversight Tool (SPOT). Together, they provide a comprehensive approach to clinical trial optimization, enhancing data integrity, ensuring regulatory compliance, and accelerating drug development. The creation of MSR ensures a more streamlined review process while prioritizing patient safety at every step and empowers medical teams to swiftly identify outliers, track data changes, and improve communication.”
To learn more about CluePoints’ award-winning solutions, please visit www.cluepoints.com
About CluePoints
CluePoints is the premier Risk-Based Quality Management (RBQM) and Data Quality Oversight Software provider. We are leveraging the potential of Artificial Intelligence using Advanced Statistics and Machine Learning to determine the quality, accuracy, and integrity of clinical trial data both during and after study conduct. Aligned with guidance from the FDA, EMA, and ICH E6 (R2), CluePoints is deployed to support central and on-site monitoring, medical review, quality risk management and to drive a holistic Risk-Based strategy in all trials. Coupled with thought leadership and consulting expertise to aid pre-study risk assessment, identification of risk controls and solution implementation, you now have everything you need to adhere with global regulatory guidance. The result is positive clinical development outcomes, increased operational efficiency, lower costs and reduced regulatory submission risk as part of the industry paradigm shift to RBQM.
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