Drug Discovery Services Market Report Upto 2026: Pharmaceutical Product Development, LLC. (Ppd), Evotec, Charles River Laboratories International, Albany Molecular Research Inc. (AMRI), GE Healthcare, Merck Millipore, Thermo Fisher Scientific Inc.

In the past few decades, the time and cost of drug development have soared. Significant investment is being made to convert new compound into a drug, reflecting complexity of the process. With the technological advancements, drug discovery technology is also improving. New technologies and indepth understanding of biology by pharmaceutical companies is also likely to reduce costs of new drugs. Also discovery of new drugs is driving the demand for specialized support and tools. This FactMR report analyzes the expansion of global Drug Discovery Services Market till date, and provides key insights on the growth of the market during the forecast period, 2017-2026.

The scope of FactMR’s report is to analyze the global drug discovery services market for the forecast period 2017-2026 and provide readers an unbiased and accurate analysis. Pharmaceutical companies and research institutes, in the global drug discovery services market can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and medical journals pertaining to drug discovery services.

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Increase in the research and development activities and expenditure, leading pharmaceutical companies moving towards outsourcing are some of the factors resulting in the growth of drug discovery services. Introduction of advanced technology in the drug discovery process is also the major driver in the market growth. However, stringent regulations in some regions on drug discovery services, high cost involved in the discovery of drug and development and usage of animals in testing are hampering the market growth.

According to a study by FactMR, the global market for drug discovery services is likely to experience strong growth. By 2026 end, the global market for drug discovery services is also estimated to bring in US$ 16,800.1 million revenue. Advancements in the drug discovery technologies are leading to the better drug discovery services. Some of the upcoming trends in the market in terms of drug discovery technology are regulatory initiatives towards pharmacogenomics technology, combinatorial chemistry technology, etc. there has also been an increase in the adoption of label-free techniques.

Hit-To-Lead Identification to Gain Maximum Traction 

Compared to the various processes in the drug discovery services, Hit-To-Lead identification is anticipated to gain maximum traction. Hit-To-Lead identification is likely to exceed US$ 6,900 million revenue towards 2026 end. Increasing research based on the High-Throughput Screening (HTS) is the main factor driving the use of hit-to-lead identification process.

Medicinal Chemistry to be the Largest Type of Drug Discovery Services

Medicinal chemistry is projected to emerge as the largest type in the drug discovery services market. Medicinal chemistry is estimated to bring in close to US$ 6,100 million revenue. There has been an increase in the outsourcing by pharmaceutical companies, this is emerging as the driving factor. Many drug discovery services providers based in Asia are increasing their foothold in North America and Europe.

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Small Molecules to Witness Highest Growth in Terms of Revenue

Compared to biologics, small molecules are estimated to account for the highest share in terms of revenue. By 2026 end, small molecules are estimated to exceed US$ 10,800 million revenue. Small molecules are gaining traction as they are easy to characterize, simple and well defined. Also, small molecules can easily enter cells, and can cause cancer cells to die.

Oncology to Hold Largest Revenue Share in the Therapeutic Area

By therapeutic area, oncology is likely to emerge as the largest segment throughout the forecast period. Towards 2026 end, oncology is estimated to exceed US$ 6,900 million revenue. Increasing number of people suffering from cancer is resulting in the high demand for cancer therapies. Hence, oncology is anticipated to experience a significant growth in the coming years.

Competition Tracking

The report also profiles companies that are expected to remain active in the expansion of global drug discovery services market through 2026, which include Syngene, Wuxi Apptec, Aurigene Discovery Technologies, Genscript Biotech Corporation, Covance, Jubilant Biosys, Pharmaceutical Product Development, LLC. (Ppd), Evotec, Charles River Laboratories International, Albany Molecular Research, Inc. (AMRI), GE Healthcare, Merck Millipore, and Thermo Fisher Scientific, Inc.

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This release was published on openPR.