Drug Discovery Services Market: AI & Machine Learning Preferred Over Traditional Method || Key Players: Albany Molecular Research, Inc. (AMRI), GE Healthcare, Merck Millipore, and Thermo Fisher Scientific, Inc.

 According to a study by Fact.MR, 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.

The pharmaceutical industry is set to reap dividend from novel technologies in order to enlarge their repertoire of therapies, lessen costs and adhere to ever-changing regulatory requirements. As such, though uncertainties linger around artificial intelligence in health care, drug discovery is the field where it is garnering attention.

Recently, a partnership accord between US chip maker Intel and Swiss drug-maker Novartis empowered researchers to use ‘deep neural networks’ to cut short the time drastically for assessing microscopic images to 31 minutes from 11 hours. Novartis is not the lone company foraying into AI for drug discovery; British startup Exscientia collaborated with GlaxoSmithKline and followed the suit. The deal will witness discovery of apparently small molecule drugs for up to ten diseases.

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The British drug giant GSK further inked a research and development pact with Syngene to accelerate the discovery of new drug candidates using the discovery service platforms of the latter.

The stimulus for having machine learning and artificial intelligence in drug discovery is inevitable, as it often cost billions of dollars and takes years to bring a new drug into the market. Besides, Mount Everest-sized pile of drugs succumb to preclinical and clinical testing. Artificial Intelligence and Machine Learning, hence, offer plethora of advantages vis-à-vis traditional methods. Meanwhile, regulatory initiatives towards combinatorial chemistry technology and pharmacogenomics are few of the forthcoming trends in drug discovery services market. 

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.

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.

Hit-To-Lead Identification to Gainaximum Traction 

ompared 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.

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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.

A qualitative and quantitative information has been obtained for the forecast and assessment on the drug discovery services market. The research sources include primary and secondary sources which have been further examined by in-house panel of experts. The growth of end use industries in the historical and forecast period have been estimated to aid the readers with their business investment decisions. The market size of the drug discovery services is the result of revenue comparison, market share comparison and Y-o-Y growth comparison on the geography.

Competitive Landscape  

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.