Next Gen Sequencing Data Analysis Market Worth $1.5 Billion By 2027

The global next gen sequencing data analysis market size is expected to reach USD 1.5 billion by 2027, expanding at a CAGR of 12.9%, according to a new report by Grand View Research, Inc. Next generation sequencing (NGS) has transformed the field of proteomic and genomic research as the technology is highly accurate, offering higher throughput and used for a variety of applications. This includes de novo assembly, transcriptome, whole-genome sequencing, and resequencing for DNA and RNA. Hence, the high adoption of NGS by academic and clinical settings for genomic and proteomic research drives the demand for NGS data analysis tools.

Numerous tools, such as EpiGentek’s Targeted Methyl-Seq platform and Agilent’s HaloPlex capture system, are used to determine DNA methylation profiles across any individual genome. Bisulfite-methylation mapping of whole-genome is currently a feasible technique for targeted sequencing. Besides, expansion of targeted methylation NGS analysis by techniques such as Single Molecule Real-Time Bisulfite Sequencing is driving the market.

Epigentek Group, Inc.; Novogene Co., Ltd.; and CD Genomics are among the few companies that provide services related to targeted bisulfite or methylation sequencing data analysis. Furthermore, key companies are constantly expanding their product line to suffice significant upswing in the demand for these solutions globally. For instance, in July 2020, Pacific Biosciences introduced SMRT Link v9.0 software that is compatible with its Sequel II System.

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https://www.grandviewresearch.com/industry-analysis/next-generation-sequencing-ngs-data-analysis-market

Further key findings from the report suggest:

Analytical software is expected to witness significant growth over the forecast period due to the high demand for data management software for managing a large amount of sequenced information
QIAGEN’s CLC Genomics Workbench is one such solution that is a complete toolkit for analyzing transcriptomics, metagenomics, genomics, and epigenomics in one single program
The NGS tertiary data analysis segment held the largest share for workflows in 2019 as it involves the usage of numerous tools
In addition, the tertiary step is an experiment-specific, complex, and time-consuming step of NGS workflow
Availability of software and tools, such as PolyPhen, SIFT, and CIViC, for variant interpretation and annotation, is attributive to the larger share of the segment
The outsourced mode segment has gained immense popularity as it minimizes the requirement of expensive computational infrastructure and complex software tools
SciBerge.Kfm, a German firm, offers outsourced analyzing services to allow its users to interpret NGS information in a fraction of the total price incurred for deep sequencing and DNA library preparation
The wide availability of algorithms and alignment tools for analyzing whole-genome, amplicon, 16S rRNA, methylation, and tumor-normal sequenced data contributes to the dominant revenue share of the short-read segment in 2019
TopHat, Bowtie2, STAR, BWA, Minimap2, and HISAT2 are the commonly used alignment tools for high-throughput short-read sequencing
The academic research end-use segment dominated the market in terms of revenue share in 2019
The rise in the number of skilled professionals, usage of NGS computational tools, and availability of on-site bioinformatics courses and training programs contribute to a larger revenue share
North America dominated the market in 2019 in terms of revenue generation
The launch of large-scale projects to sequence genome, high demand for personalized medicine, constant approval, and favorable reimbursement policies for NGS-based diagnostic tests are among few factors attributive for the region’s larger share
Major market participants have undertaken strategic initiatives to expand the scope of NGS computational tools
For instance, in October 2019, Thermo Fisher signed an agreement with Genialis and integrated its Invitrogen Collibri Stranded RNA Library Prep Kit with Genialis Expressions analysis software to ease the evaluation of RNA sequenced data.

Next Generation Sequencing Market Size Worth $23.7 Billion By 2027

The global next generation sequencing market size is expected to reach USD 23.7 billion by 2027, expanding at a CAGR of 11.7%, according to a new report by Grand View Research, Inc. Numerous advantages offered by high throughput sequencing over other genetic technologies such as sanger-seq and microarray is one of the key driving forces of the market for Next Generation Sequencing (NGS). Furthermore, increasing availability of low input DNA sampling methods that decrease the overall operational costs is anticipated to accelerate the use of next generation sequencing across various research and clinical applications.

Technology offered by New England Biolabs that employs magnetic beads in the template assembly process is anticipated to significantly improve the sample preparation protocols for next generation sequencing. Furthermore, recent technological advancements such as the use of Laboratory Information Management System (LIMS) for genome library automation allow next generation sequencing in a single day at a reasonable cost. These advancements are anticipated to proliferate the number of users of next generation sequencing over the forecast period.

This technology has captured the attention of several companies and investors operating across various domains including basic research, drug discovery and development, reproductive health, and consumer genomics. In addition, the plummeting cost and the added value of next generation sequencing data over conventional ones is anticipated to positively impact the diversification of this technology in other clinical areas, resulting into a lucrative revenue growth.

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https://www.grandviewresearch.com/industry-analysis/next-generation-sequencing-market

Further key findings from the report suggest:

In 2019, oncology was estimated as the application with the largest revenue share in the market for next generation sequencing
This can be attributed to the fact that the technology has been largely adopted to decipher the link between cancer and genetics
Moreover, NGS-based genetic testing for cancer predisposition can significantly improve the health outcome and reduce the mortality rate, thereby driving adoption in this segment
The targeted sequencing segment has dominated the revenue share owing to its various benefits over the whole genome segment with respect to the depth of coverage and multiplexing capacities
Significant price drop in sequencing the whole genome is anticipated to drive the segment at a lucrative growth rate
Based on workflow, sequencing accounted for the major revenue share in 2019 in the market for next generation sequencing and is anticipated to maintain its dominance over the forecast period
Being a key step, the end-users are making major investments in the seq-step, compared to sample preparation and data analysis
Moreover, the key developers are engaged in introducing new seq-platforms with enhanced capabilities and efficiency. These factors have led the segment in terms of revenue over the past years
Academic research entities are the largest end-users in terms of revenue generation owing to the high penetration of seq-technology in research activities
On the other hand, this technology is making continued growth in clinical research and within clinical settings
A substantial number of researchers are engaged in conducting translational research to accelerate the adoption of seq-technology in clinical diagnostics
North America accounted for the maximum revenue share owing to the presence of integrated platform base in U.S.
Presence of Illumina, the major player of next generation sequencing market for U.S. is another major factor that has driven the revenue share of this region in the past years
Asia Pacific is projected to mark fastest growth owing to the increase in number of domestic developers in China coupled with the expansion of molecular diagnostics area
Some major participants in the market for next generation sequencing are Illumina Inc.; F Hoffman-La Roche Ltd.; QIAGEN; Thermo Fisher Scientific Inc.; and BGI
The companies are collaborating with diagnostic players to extend the use of their platforms in clinical settings
For instance, Illumina has partnered with China’s KingMed Diagnostics for use of its platform in oncology and hereditary disease testing.

Genomics Market Size Worth $31.1 Billion By 2027

The global genomics market size is expected to reach USD 31.1 billion by 2027, registering a CAGR of 7.7% over the forecast period, according to a new report by Grand View Research, Inc. Significant changes in disease management processes along with advancements in genomics and personalized medicine are expected to propel the market.

Increasing pool of market innovators such as 23andMe,Oxford Nanopore Technologies, and Veritas Genetics that have launched breakthrough genomic technologies in recent years are also contributing toward market development. 23andMe has expertise in developing direct-to-consumer genomic tests targeted toward disease prognosis and has recently received FDA approval for its commercialization.

MinION – a trademark sequencing device of Oxford Nanopore Technologies, is witnessing significant traction owing to its ability to sequence any fragment length of DNA in real time. On the other hand, Veritas Genetics offers an affordable solution for a complete readout of the genomic sequence. Earlier procured only by doctors, these tests can now be taken by anyone curious about their DNA and costs approximately USD 1,000. The company has also begun the commercialization of this technique for newborn’s genomic sequencing applications in China in 2017.

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https://www.grandviewresearch.com/industry-analysis/genomics-market

Further key findings from the report suggest:

The consumables and reagents deliverable segment is expected to register highest growth rate owing to high costs associated with specific essential reagents along with high volume requirement
The computational services deliverable segment is set to expand at a considerable CAGR from 2020 – 2027 owing to the increasing demand for computational sequence alignment and analysis among molecular biologists
Development of predictive biomarkers targeted toward diagnosis and monitoring and substantial investments by biotechnology and pharmaceutical companies have contributed significantly to the revenue generated by the biomarker discovery application segment in 2019
Asia Pacific is a potentially lucrative market for genomics and is anticipated to expand at the highest CAGR of 9.1%
Key players of genomics market include 23andMe; F. Hoffmann-La Roche Ltd.; BGI; Myriad Genetics Inc.; Danaher.; Pacific Biosciences; Illumina; Agilent Technologies; Thermo Fisher Scientific, Inc.; Foundation Medicine; Oxford Nanopore Technologies; and Bio-Rad Laboratories.

Apoptosis Assay Market Size Worth $7.5 Billion By 2027

The global apoptosis assay market size is expected to reach USD 7.5 billion by 2027, expanding at a CAGR of 7.6%, according to a new report by Grand View Research, Inc. Extensive research activities on expanding applications of drug-induced apoptosis assays have propelled the inclination of pharmaceutical manufacturers towards incorporating cell cycle products in the drug discovery and designing process.

The introduction of affordable and easy to perform kits that can be accommodated in complex experiments is expected to minimize the overhead costs of apoptosis experiments. Companies are providing highly precise reagents and lot-to-lot reproducibility in sample measurements.

Professionals at pharmaceutical companies are making use of cell-cycle inhibitors and Apoptosis-Inducing Factors (AIF)/ molecules to explore possible drug targets. Also, high demand for caspase activity assays along with Bcl-2 protein family across pharmaceutical companies for apoptosis detection has been observed in recent years. Biotechnology companies are enhancing quantification techniques to enable real-time monitoring of apoptotic cellular dynamics.

The presence of established guidelines and protocols for cell-potency assays has strengthened the development of efficient cell-death detection assays. Whereas, stringent regulations with respect to the approval of cell-potency assays are ensuring successful uptake of market products launched.

The flow cytometry segment dominated the market and accounted for the largest revenue share in 2019. This is attributed to the increasing adoption of the technique among researchers. It helps in finding the difference between intact mitochondria (healthy cells) and permeabilized mitochondria (cells undergoing death). The segment is anticipated to grow fast over the forecast period.

The pharmaceutical and biotechnology segment dominated the market in 2019 and is anticipated to continue its dominance over the forecast period. This is attributed to the rising incidence of cancer and neurodegenerative disorders. In addition, the growing significance of programmed cell death or apoptosis to treat chronic diseases is driving the segment growth.

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https://www.grandviewresearch.com/industry-analysis/apoptosis-market

Further key findings from the study suggest:

The kits segment dominated the market and accounted for a revenue share of around 50.0% owing to increasing investment by key market players
Increase in the demand for fluorochrome-labeled inhibitors of caspases has made reagents the fastest growing product segment in the market
Application of these inhibitors with other techniques is anticipated to enhance the apoptosis assessment, thereby driving segment growth
Owing to the wide adoption and easy availability of products, flow cytometry is estimated to account for a substantial share of approximately 35.0% in 2019
The increasing significance of continuous monitoring of programmed cell death across novel drug discoveries and development of advanced therapeutics is set to propel market growth
North America has dominated the market in terms of revenue share in 2019, and Asia Pacific is expected to witness the fastest growth in the coming years as a result of the expanding CRO landscape in the region
Key companies are competing in terms of a combination of products and services in order to maintain market share.

Organoids And Spheroids Market Size Worth $2.1 Billion By 2027

The global organoids and spheroids market size is expected to reach USD 2.1 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 22.5% over the forecast period. A rise in the adoption of organoid cultures in drug discovery, and rising demand for cell therapy and tissue engineering across the globe is expected to drive the market.

3D spheroids are considered as an important aspect of tissue engineering and regenerative medicine research as they can be used as building blocks for the generation of complex tissues and organs. In addition, the potential of 3D cell cultures to be used as models for drug screening and analysis of human disorders are expected to provide ample growth opportunities to the market in the near future.

A rise in the adoption of organoid cultures for the assessment of the mechanism of human-specific disorders is expected to enhance the market growth. For instance, human organoids have helped in the analysis of a wide range of tissues including the small intestine, prostate, brain, and liver. The promise of the generation of 3D cell cultures that resemble human organs has brought an enormous potential for the use of organoids as cell therapies, and as prospective substitutes for whole-organ transplantation.

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https://www.grandviewresearch.com/industry-analysis/organoids-spheroids-market

Further key findings from the report suggest:

The spheroids segment is anticipated to dominate the market throughout the analysis period
Higher adoption of 3D spheroids in the fields of drug discovery, disease modeling, and safety testing is a key factor driving the segment
The developmental biology application segment accounted for the largest revenue share in 2019 as the development of organoids from Induced Pluripotent Stem Cells (iPSCs) have paved way for dynamic observation of cell development and propelled the adoption of mechanistic studies for human development
Biotechnology and pharmaceutical industries dominated the end-use segment in the market in 2019. This is because of the high utilization rate of organoids and spheroids in pre-clinical drug discovery by pharma entities
In addition, these players are actively involved in the development of advanced products that enhance the efficiency of organoid and spheroid generation.
For instance, In December 2018, Sun Bioscience developed a robotic platform specially designed for the production of organoids for personalized medicine. The platform facilitates automated image-based screening of such cells
In North America, the market generated the highest revenue in 2019 due to higher adoption of technologically advanced cell culture platforms, and the presence of a large number of universities and academic institutions actively involved in cell and organ-based studies
In addition, a higher adoption rate of organoid and spheroid culture products and efficient healthcare infrastructure in North America is attributive to the largest revenue generation from the region
In Asia Pacific, the market is anticipated to witness lucrative growth over the forecast period.
Presence of key players and government organizations such as STEMCELL Technologies, Australasian Society for Stem Cell Research (ASSCR), The Japanese Society for Regenerative Medicine, The Korean Society for Stem Cell Research (KSSCR), and others are expected to enhance the penetration of organoid and spheroid culture in Asia
The key players are constantly involved in research and development of new products so that they can enhance their market position.

Autosamplers Market Size Worth $1.8 Billion By 2027

The global autosamplers market size is expected to reach USD 1.8 billion by 2027, expanding at a CAGR of 6.9%, according to a new report by Grand View Research, Inc. The increasing number of research studies and rising demand for chromatography in the pharmaceutical industry, as well as the increasing usage of automation in the laboratories, is boosting the market growth.

Laboratories have emerged as multipurpose research facilities in which different types of testing mechanisms, research analogies, and novel developments are being carried out. The number of test samples is increasing and therefore the demand to run large sample batches is steadily growing. This has also led to an increase in the demand for automation products in various labs.

The rapid adoption of autosamplers attached to analytical systems has led to an increase in lab productivity. The analytical chemists can now produce high-quality data without being present in the lab, continuously. The device provides better reproducibility, high accuracy, and also minimizes error in sampling. It also has the capacity to house the multiple numbers of sample vials in each sequence and hence making it convenient to run various samples that require similar analysis conditions.

Also, to speed up the R&D in areas such as pharmacokinetics, it has become increasingly necessary to analyze a large number of samples at high speed and high precision. Hence, Shimadzu Corporation developed Nexera MP Ultra High Performance Liquid Chromatograph utilizing the SIL-30ACMP Multiplate Autosampler. It achieves an ultrafast injection performance enabling a maximum of 2304 samples to be analyzed continuously.

In Asia Pacific, the market is anticipated to account for the highest CAGR over the forecast period. This is attributed to the growth of the pharmaceutical and biotechnology industry in the region, which, in turn, is driving demand for advanced medical devices in the region.

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https://www.grandviewresearch.com/industry-analysis/autosamplers-market

Further key findings from the report suggest:

Based on the product, the autosampler systems dominated the market with a global share of 63.6% in 2019. This is attributed to their benefits such as better reproducibility and high accuracy with minimum errors in sampling
The liquid product segment is the fastest-growing segment due to its increasing demand in the number of samples
Based on end-users, the pharmaceutical and biotechnology companies segment dominated the market with a share of 34.9% in 2019 owing to the increasing usage of automation instruments in laboratories
North America held the maximum revenue share of 39.9% in the market in 2019. This is due to the technological advancements and availability of a skilled workforce in the region to handle chromatography instruments.

Filter Integrity Test Market Worth $82.38 Million By 2026

The global filter integrity test market size is expected to reach USD 82.38 million by 2026 growing at a CAGR of 4.31% during the forecast period, according to a new report by Grand View Research, Inc. The introduction of stringent regulations pertaining to the evaluation of the integrity of filter products has driven the adoption of filter integrity test systems within biopharmaceutical, food & beverages, and other end-use settings. The tests are highly adopted by the aforementioned end-users to ensure the structural integrity of a sterilizing filter in order to meet all regulatory requirements as well as manufacturer’s specifications, which in turn, has spurred the revenue generation in this market.

The availability of fully automated testing systems has provided emerging key players with lucrative growth avenues. Automated systems are portable and easy-to-use and provide reliable data, thereby enable in saving time as well as reducing labor and other handling costs. Furthermore, advancements such as the touch screen user interface simplify the test process and accelerate the testing capabilities.

Numerous incidences of post-use filter failure are detected during the filtration process leading to the removal or reprocessing of filtered products. Implementation of pre-use/post-sterilization integrity testing minimizes such post-use failure detections in the product, consequently improving the quality of filtration. This has further boosted the adoption of such tests in the market.

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https://www.grandviewresearch.com/industry-analysis/filter-integrity-test-market

Further Key Findings from the Report Suggest:

High usage rate of bubble point test as a non-destructive method has attributed to the largest revenue share of the bubble point test
Pressure hold test is gaining popularity mainly because it eliminates the risk to downstream sterility, and is expected to witness an increase in adoption rate at a lucrative pace
High preference as well as the implementation of automated test systems coupled with continuous advancements in product designing, has resulted in the maximum revenue share of this segment
Liquid filter integrity test accounted for higher penetration in 2018 due to high adoption of hydrophilic filters in bubble point and forward flow (diffusion) tests
Factors such as high demand for single-use products, expansion of contract services, and increasing funds for bioprocessing technology have driven the adoption of test systems in biopharmaceutical & pharmaceutical companies at large scale
Mutually beneficial partnerships between the key players and food & beverage producers for improving the quality of food products offer lucrative opportunities for integrity tests in the food & beverage industry
North America dominated the global market due to the presence of leading players providing testing systems and stringent government regulations for implementation of tests within multiple industries
Asia Pacific is poised to witness the fastest growth as a consequence of the continuous efforts adopted by the local players as well as international players to reinforce their market presence
Sartorius AG, PARKER HANNIFIN CORP, Pall Corporation, and Merck KGaA are some key players operating in the filter integrity test market
Key vendors are adopting strategic growth initiatives such as novel product developments, partnerships & agreements, and geographical expansion to enhance the market share

NGS Sample Preparation Market Size Worth $5.80 Billion By 2025

The global next-generation sequencing (NGS) sample preparation market size is expected to reach USD 5.80 billion by 2025, expanding at a CAGR of 11.19% over the forecast period according to a new report by Grand View Research, Inc. Development of companion diagnostics and personalized medicine is expected to enhance the adoption of next-generation sequencing protocols in clinical practice. NGS technology is widely applicable in theranostics domain thus leading to growth in NGS sample preparation market.

In addition, an increase in sequencing capacity and speed has led to a rise in demand for high-throughput NGS sample handling solutions. Therefore, key players are focused on the development of automated platforms for sample preparation for next-generation sequencing.

For instance, the Bravo NGS manufactured by Agilent Technologies, Inc. efficiently automates library preparation for NGS implementation and reduces the overall time of the process. A laboratory technician can use Bravo NGS to prepare whole genome libraries for nearly 1,000 samples every week. The system also reduces variability by nearly 39% as compared to other manual methods.

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https://www.grandviewresearch.com/industry-analysis/next-generation-sequencing-sample-preparation-market

Further Key Findings from the Report Suggest:

Semi-automated library preparation segment dominated the workflow segment in 2018 and is projected to remain on the top in terms of revenue generation in the coming years
Combination of automated and manual approaches for library preparation is attributed to the highest share of the segment
Market entities are engaged in strategic partnerships to develop library preparation protocols on semi-automated technologies
For instance, Illumina partnered with Hamilton Company for developing automated and semi-automated library preparation platform. The automation of preliminary steps aid in the reduction of sample handling time
Oncology was the largest and consumer genomics was the fastest-growing application segment from 2018 to 2025
Introduction of targeted gene panels for cancerous cells is expected to drive demand for efficient sample handling solutions in the coming years
Illumina is constantly working towards the development of next-generation sequencing based in vitro diagnostic (IVD) solutions for cancer diagnostics.
The company has partnered with some of the leading biotechnology firms to develop companion diagnostics targeting cancer
For instance, Illumina partnered with Loxo Oncology in April 2018 to develop NGS-based pan-cancer companion diagnostic solutions for solid tumors
Similarly, continuous introduction of novel solutions for consumer genomics is driving growth in the NGS sample preparation market
Companies such as 23andMe, Color Genomics, Helix, and Counsyl are active players in the consumer genomics segment
Clinical research segment is projected to grow with the highest CAGR in the coming years
Rising adoption of sequencing associated CLIA waived diagnostic tests among these end-users is anticipated to boost growth
Although U.S. accounted for the largest share on the current market scenario, potential opportunities offered by emerging nations is attributive to the fastest growth rate of Asia Pacific region
China and India are expected to witness substantial penetration in the coming years with respect to implementation of biotechnological advances
Agilent Technologies.; BGI; Biomatters Ltd.; Bio-Rad Laboratories, Inc.; Congenica Ltd; DNASTAR; Eurofins Scientific; F. Hoffmann-La Roche Ltd; Foundation Medicine; Genomatix GmbH; Illumina; Macrogen; Myriad Genetics; Oxford Nanopore Technologies; Pacific Biosciences of California; Partek Incorporated; Perkin Elmer; PierianDx; QIAGEN; Quest Diagnostics Incorporated; and Thermo Fisher Scientific are the prominent participants operating in this market
These companies are working towards the development of novel products and workflows that can help ease the bottlenecks associated with the integration of sequencing in clinical medicine

Bioburden Testing Market Worth $2.01 Billion By 2026

The global bioburden testing market size is expected to reach USD 2.01 billion by 2026, expanding at a CAGR of 13.7% during the forecast period, according to a new report by Grand View Research, Inc. The market is expected to showcase upward trend in the forthcoming years owing to growing concerns about product safety. This has led to various government initiatives to promote microbiological safety testing tools.

A number of publications released by organizations to promote awareness regarding microbiological safety testing is broadening the future growth prospects of bioburden testing. For instance, the U.S. Department of Health and Human Services and Centers for Disease Control published Biosafety in Microbiological and Biomedical Laboratories (BMBL), which includes information pertaining to laboratory biosecurity and risk assessment, decontamination and sterilization, and biological toxins and biosafety levels in laboratories.

Growth of pharmaceutical, biotechnology, medical device, and food and beverage industries have contributed to the high growth of the bioburden testing market. In addition, increase in R&D investments by prominent companies is expected to encourage end users to adopt highly efficient bioburden testing tools to counter possible losses due to microbial contamination. Merck is planning to invest USD 16 billion in R&D over the next five years, in addition to its annual investment of USD 7 billion. Moreover, requirement for basic drug safety data requirements for preclinical studies is expected to fuel the demand for bioburden testing tools.

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https://www.grandviewresearch.com/industry-analysis/bioburden-testing-market

Further key findings from the study suggest:

On the basis of product, consumables segment dominated the market in 2018 owing to a wide use of culture media and reagents and kits
PCR instruments facilitate rapid analysis of bacterial bioburden, thus, fostering high market growth
Aerobic count testing held significant market share in 2018 due to easy isolation of aerobic bacteria by culture media
Raw material testing is anticipated to showcase lucrative growth during the forecast period owing to the increasing number of product recalls and concern regarding product quality
On the basis of end use, pharmaceutical and biotechnology companies dominated the market in 2018 owing to the high growth of this industry
The number of CMOs is increasing significantly, which has led to a rise in outsourcing services, thus, driving the segment growth
North America held the largest revenue share in 2018 due to high R&D spending by key companies and high healthcare spending in the U.S.
Some of the key manufacturers in the bioburden testing market include Charles River Laboratories International, Inc.; SGS SA; Merck KGaA; Becton, Dickinson and Company; and Wuxi Apptec

Asia Pacific Drug Development Market Worth $62.46 Billion By 2026

The Asia Pacific drug development market is expected to reach USD 62.46 billion by 2026 and is projected to expand at a CAGR of 6.54%, according to a new report by Grand View Research, Inc. Challenges pertaining to the escalating research costs and shrinking revenue faced by major pharma companies have led to the significant expansion of Asian drug development sector. A rapidly expanding healthcare infrastructure, low operating costs, and a growing patient population have contributed to the recognition of Asian countries as an ideal site for low-cost drug development.

Young attractive female scientist holding a red transparent pill with futuristic scientific air interface with chemical formulas and research data in the foreground

Furthermore, the growing acceptance of clinical trial data generated in Asia by Western drug regulators, including the EMA and U.S. FDA, is one of the key market drivers. This is primarily because of the increasing similarities of Asian disease demographics to that of the Western nations.

Various government policies have been formulated to promote implementation of digital and advanced analytics, such as artificial intelligence, in the region. Moreover, the pharma companies are collaborating with AI-based companies to leverage algorithms and cloud computing to transform their drug development process.

The contract research organizations are experiencing increasing levels of interest in Asian countries from their U.S. –based client base. This is a testament to the lucrative growth of Asia Pacific market, driving its growth in the coming years.

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https://www.grandviewresearch.com/industry-analysis/asia-pacific-drug-development-market

Further key findings from the report suggest:

Outsourced mode of pharmaceutical development led the market and is expected to maintain its dominance throughout the forecast period, due to the fact that the companies are investing or redirecting their significant investments from already existing R&D centers in Europe and U.S. to emerging centers in Asia
Analytical & stability studies captured the largest revenue share in the market, due to the high usage of advanced and relative expensive technologies such as Electron Paramagnetic Resonance (EPR) spectroscopy
Oncology is estimated to be the highest revenue generating segment, due to the presence of a substantial number of cancer targeting therapeutics in clinical development phase. This segment is expected to maintain a fast CAGR during the forecast period owing to wide acceptance of personalized therapy in cancer treatment
Strong government support for innovation and large and diverse domestic pharma industry of China has led to the dominance of China over other countries in the Asia Pacific drug development market
Furthermore, the launch of several start-ups in India is expected to serve as a significant source of revenue to the Indian pharmaceutical industry
Some key contract service providers operating in the Asia Pacific drug development market are Eurofins Advinus; Covance Inc.; Celerion; and Parexel International Corporation. With the rising trend of outsourcing pharmaceutical manufacturing, these CROs are expected to witness great organic revenue growth
In house global pharmaceutical manufacturers such as Pfizer and AstraZeneca are also striving to gain competitive ground in the Asian market