The U.S. pharmaceutical R&D outsourcing market is expected to experience significant growth, with the demand valued at USD 25,407.75 million in 2022. It is projected to surge to USD 59,163.89 million by 2030, growing at a CAGR of 10.51% from 2023 to 2030.
The market’s growth is driven by increasing R&D expenses, prompting companies to outsource to specialized service providers. There’s also a growing demand for specialized expertise and innovative technologies, a rise in the number of small and mid-sized pharmaceutical companies, and the adoption of cloud computing and AI in R&D. These factors, combined with the high cost and low success rate of pharmaceutical R&D, contribute significantly to the market’s growth.
Key trends include increased collaboration and partnerships among contract research organizations (CROs) and other stakeholders, a surge in outsourcing clinical trials, integration of cloud computing and AI in drug discovery and development, and the flexibility and cost efficiency of externalized R&D. Additionally, the growth in biopharmaceutical facilities, such as for cell and gene therapies and vaccines, is also a significant trend.
In the U.S. pharmaceutical R&D outsourcing market, the small-molecule pharma R&D outsourcing segment is emerging as the leading category. This reflects the market’s segmentation across various categories like product type, development stage, company size, therapy area, and region.