Drug Discovery Market Size, Share, Trends, Growth, & Key Business Strategies by Leading Industry Players Pfizer, GlaxoSmithKline, Merck & Co, Agilent Technologies, Bayer AG, Abbott Laboratories, Shimadzu Corp

Coherent Market Insights has announced the addition of the “Drug Discovery Market Size Status and Forecast 2026”, The report classifies the global Drug Discovery Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.

This report studies the global Drug Discovery Speaker market, analyzes and researches the Drug Discovery Speaker development status and forecast in North America, Europe, Asia Pacific, Latin America and Rest of the World. This report focuses on the top players in global market, like Pfizer, GlaxoSmithKline, Merck & Co, Agilent Technologies, Bayer AG, Abbott Laboratories, Shimadzu Corp

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Several pharmaceutical and biotechnological companies are focusing on expanding in Asia Pacific region, to maximize on their R&D efforts as the Asia Pacific region provides better access to patients for clinical trials, with lower cost operational efficiencies. Increasing government investment in research and development is also expected to foster growth of drug discovery in Asia Pacific region. For instance, in March 2011, the Korean government participated in the Korean National Enterprise for Clinical Trials, to advance the country’s infrastructure for conducting clinical trials, which could fasten the process of clinical trials, in turn supporting the growth of drug discovery market.

Increasing prevalence of wide range of disease such as cancer, cardiovascular, and CNS-related disorders with patent expiration of blockbuster drugs are some of the driving factors for growth of the drug discovery market. Advancements in the field of biotechnology and pharmaceuticals, in order to identify active ingredients in the form of drugs through drug discovery process, is gradually gaining pace in the market. This drug discovery process involves screening of chemical libraries, identification of the active ingredients for a natural remedy or by serendipitous discovery. Emergence of new diseases, which include viral or infectious diseases leads to high demand for drug discovery for these conditions. However, development of drugs is complex, costly, and risky process.

By Drug Type:

Small Molecule Drug
Biologics Drug

By Technology:

High Throughput Screening
Biochips
Bioinformatics
Pharmacogenomics and Pharmacogenetics
Combinatorial Chemistry
Nanotechnology
Spectroscopy
Metabolomics
Other Technologies

By Services:

Drug Metabolism and Pharmacokinetics (DMPK) Services
Pharmaceutical Services
Chemical Services
Biological Services

By End User

Research Institutes
Pharmaceutical Companies
Biotechnology Companies
Other End Users

Major players in drug discovery market focus on collaborations and mergers, to increase their research activities for certain indication or disease. For instance, in January 2018, AstraZeneca and Imperial College London collaborated to investigate biological drivers for respiratory diseases such as asthma and chronic obstructive pulmonary disease. Furthermore, in January 2018, BioCryst Pharmaceuticals Inc. and Idera Pharmaceuticals Inc. announced plans for a definitive merger agreement to develop drugs for patients with rare diseases.

North America accounted for the largest share in the drug discovery market, followed by Europe market in 2016. This is attributed to presence of a large number of top pharmaceutical and biotech companies, Pfizer, Inc., Merck, GlaxoSmithKline, Novartis and many more in this region. Furthermore, favorable regulatory framework and regulatory policies for investors for research and development of new drugs augments growth of drug discovery market in the region.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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This release was published on openPR.