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Small Molecule Drug Discovery Market 2018; at a 6.8% of CAGR with the Industry Top Competitors Pfizer, Bristol- Myers Squibb, Merck & Co., Boehringer Ingelheim Gmbh, GlaxoSmithKline; 2023

08-06-2018 05:41 PM CET | Health & Medicine

Press release from: Market Prognosis

The global small molecule drug discovery market is expected to witness a CAGR of 6.8% during the forecast period (2018-2023). North America dominates the market due to a rise of chronic disease in that region.

Rise in Demand for Small Molecule Drugs

Small molecule drugs accounted for 84% of the total pharmaceutical industry revenue in 2014. In 2015, a total of 45 new molecular entities were approved in the United States, out of which 33 were small molecules. The versatility of small molecule drugs, which can range from global blockbusters to targeted therapies to orphan drugs, and their ability to be formulated into pills and tablets are driving the demand for these drugs. There has been an increase in the number of Contract Development and Manufacturing Organizations (CDMO) entering the pharmaceutical industry. CDMOs that focus on the development of small molecules are experiencing a significant growth in the industry. In 2015, the revenues of Contract Research Organizations (CROs) and CDMOs, focusing on the development of small molecules, increased by 15-20%. CROs and CDMOs play a critical role in the drug discovery process as most of the key development activities are achieved by outsourcing them to contract organizations. The resultant rise in demand for small molecule drug will drive the market in forecast years.

Additionally, the dominance of small molecules in the market, small molecules in the treatment of chronic diseases, and the high R&D expenditure on small molecule drugs are fuelling the growth of global small molecule drug discovery market.

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Key Developments in the Market

December 2017: Pfizer entered into an agreement to Develop and Commercialize CRESEMBA® (isavuconazole) in China and Asia-Pacific Region.
December 2017: Teva Pharmaceutical launched a generic version of Viread that is used for the treatment of HIV-1 infection in adults and pediatric patients

Major Players:

Pfizer Inc., Bristol- Myers Squibb, Merck & Co., Boehringer Ingelheim Gmbh, GlaxoSmithKline, AstraZeneca, Johnson & Johnson, Gilead Sciences Inc., and Teva Pharmaceuticals among others.

Reasons to Purchase this Report

Current and future small molecule drug discovery market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Identifying the segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)

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High Drug Development Cost

On an average, the cost of drug development scales between USD 1.5-3 billion and averages around USD 2.6 billion. This high cost of drug development is a result of the high failure rate of experiments and a relatively lower efficiency figures involved in the initial phases of drug discovery. As per data reported by Centers for Medicare & Medicaid Services in December 2015, drug development cost for Medicare’s Sovaldi was around USD 3.1 billion, and for Nexium, the figure was close to USD 2.6 billion. Most of the small molecule drug discovery cost lies in the same bracket. Thus, developing such drugs always involves high costs, which cannot be borne by new entrants or small-scale laboratories, this is limiting the market scope.

Additionally, strict regulations are also restraining the growth of global small molecule drug discovery market.

North America is dominating the market

The North America market occupies the largest share of the global market owing to its high investments in drug discovery activities. Some estimates indicate that 64% of all research on new drugs approved in the last ten years was done in the United States. This shows that the United States is focusing on R&D activities to meet the increasing demands of its citizens, ultimately leading the market of North America.

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About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today’s complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

Contact us:
ProgMark Pvt Ltd,
Thane - 421501
India.
Contact No: +1 973 241 5193
Email: sales@marketprognosis.com

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