Drug Discovery Services Market 2019: Drivers, Revenue, Application Industry Demand Analysis Report and Future Investment Growth Report

Drug Discovery Services Market Research Report: By Drug Type (Small Molecule Drug, Biologics), by Type (DMPK, Pharmaceutical Services, Others), by Therapeutic Area (Oncology, Others), by Process, by Technology, and by End-User – Global Forecast Till 2023

Market Outlook

Drug Discovery Services refer to as the outsourcing the process of development of a new medicine. These services minimize the costs and timelines of drug discovery. The most common methods employed for drug discoveries are molecular manipulation, drug metabolites, random screening, molecular designing, and serendipity.

It is estimated that the drug discovery services market is expected to grow at a CAGR of 10.8% during the forecast period of 2017–2023.

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The Global Drug Discovery Services Market is growing at a rapid pace; mainly due to the burgeoning healthcare sector. The market is predominantly driven by the augmented demand and supply for the medicines, the generic drugs, and the growing number of patents expires.

Key Players

Some of the players leading the market include Advinus Therapeutics, Abbott Laboratories Inc., Agilent Technologies Ubiquigent, AstraZeneca PLC, Albany Molecular Research Inc. (AMRI), Aurigene, Charles River Laboratories International, Bayer AG, ChemBridge Corporation, Eli Lilly, and Others.

Market Segmentation:

MRFR has segmented the analysis into seven key dynamics for better understanding:

By Drug Type: Small Molecule Drug, and Biologics.

By Types of Services: Drug Metabolism & Pharmacokinetics (DMPK) Services, Pharmaceutical Services, Medicinal Chemistry, and Biological Services and others.

By Therapeutic Area: Oncology, Neurology, Cardiovascular Diseases, Respiratory Diseases, and Diabetes among others.

By Process: Target Selection, Target Validation, Hit-To-Lead Identification, Lead Optimization, and Candidate Validation among others.

By Technology: High Throughput Screening, Biochips, Pharmacogenomics & Pharmacogenetics, Combinatorial Chemistry, Nanotechnology, Spectroscopy, and Metabolomics among others.

By End-user: Hospitals & Clinics, Pharmaceutical Companies, Biotechnology Companies, and Research Institutes, among others.

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Regional Analysis

The Americas dominates the drug discovery services market owing to the increasing prevalence of chronic diseases and high healthcare expenditure. It is also reported that around 15.1% of adults in the United States i.e. 36.5 million adults smoked cigarettes in 2015, which accounted for more than 480,000 deaths each year. Nearly 86% of the healthcare cost in the United States i.e. USD 2.7 trillion is spent for people with chronic and mental health conditions.

Europe holds the second position in the drug discovery services market. Various biologic drugs such as Genentech's Rituxan, Abbott & Eisai's Humira, and J&J's Remicade are likely to lose their patent protection in the coming years.

Asia Pacific is the fastest growing drug discovery services market owing to a huge patient pool and development in the pharmaceutical sector. Healthcare expenditure is found to be boosting in various regions of Asia Pacific. the total health expenditure was nearly USD 170.4 billion, i.e., 3.6% higher than the expenditure of 2014–2015.

The Middle East and Africa holds the lowest share of the global market due to slow development, lack of technical knowledge, and poor medical facilities.

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