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Drug Discovery Services Market worth USD 21.4 billion by 2025 | Leading Companies are WuXi AppTec (China), Jubilant Biosys Ltd. (India), Eurofins Scientific SE (Luxembourg), Piramal Enterprises Ltd. (India), and Selvita S.A. (Poland)

09-18-2020 04:21 PM CET | Health & Medicine

Press release from: MarketsandMarkets

Drug Discovery Services Market worth USD 21.4 billion by 2025 |

According to the new market research report "Drug Discovery Services Market by Process (Target Selection, Validation, Lead Optimization), Type (Medicinal Chemistry, DMPK), Drug Type (Biologics, Small Molecules), Therapeutic (Oncology, Neurology), Company (Tier 1, 2, 3) – Global Forecast to 2025", published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).

The Drug Discovery Services Market is projected to reach USD 21.4 billion by 2025 from USD 11.1 billion in 2020, at a CAGR of 14.0% during the forecast period.

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The Market growth is largely driven by the growing R&D expenditure in the pharmaceutical & biopharmaceutical industry, increasing demand for outsourcing analytical testing and clinical trial services, initiatives for research on rare diseases and orphan drugs, and the focus on drug discovery.

Small molecule drugs accounted for largest share in drug discovery services market in 2019.

Based on drug type, the market is segmented into small-molecule drugs and biologic drugs. In 2019, small molecule drugs accounted for the largest market share as small-molecule drugs are simple, well-defined, and easy t'o characterize. Due to these features, they can quickly enter cells, affect molecules, and cause cancer cells to die.

Oncology segment accounted for the largest share in the market in 2019

Based on the therapeutic area, the market is segmented into oncology, cardiovascular diseases, neurology, infectious and immune system diseases, digestive system diseases, and other therapeutic areas. The oncology segment accounted for the largest market share in 2019, with the highest growth rate as well. This can primarily be attributed to the increasing number of patients who have cancer and the subsequent increase in the demand for cancer therapies.

Browse in-depth TOC on "Drug Discovery Services Market"
235 – Tables
43 – Figures
243 – Pages
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Medicinal Chemistry accounted for the largest share the market in 2019

Based on type, the market is segmented into medicinal chemistry services, biology services, and drug metabolism and pharmacokinetics (DMPK). Of all these type segments, the medicinal chemistry services segment accounted for the largest share of the drug discovery services market in 2019 The large share of this segment is due to factors such as the widespread application of medicinal chemistry in various phases of preclinical drug discovery to deliver robust candidates. Furthermore, the extensive usage of medicinal chemistry in academics, biotechnology companies, and large pharmaceutical companies are also supporting market growth.

North America accounted for largest share of the drug discovery services market in 2019.

Based on the region, the global market is segmented into North America, Europe, the Asia Pacific, and Rest of the World. In 2019, North America accounted for the largest share of the market. The large share of this market segment can be attributed majorly to the presence of well-established CROs, rising R&D expenditure by pharmaceutical & biopharmaceutical companies, and the availability of latest techniques, instruments, and facilities for drug discovery research.

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Key Players

The major players operating in this drug discovery services market Laboratory Corporation of America Holdings (US), Albany Molecular Research, Inc. (US), Charles River Laboratories International, Inc. (US), Evotec A.G. (Germany), Eurofins Scientific (Luxembourg), WuXi AppTec (China), GenScript Biotech Corporation (China), Thermo Fisher Scientific, Inc. (US), Pharmaceutical Product Development, LLC (US), Syngene International Ltd. (India), and Selvita S.A. (Poland) among others.

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About MarketsandMarkets
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth emerging opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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