America Leads to Drug Discovery Services Market With Industry Expertise- Abbott Laboratories., Advinus Therapeutics, Agilent Technologies Ubiquigent, Albany Molecular Research, AstraZeneca PLC, Aurigene, Bayer

Drug Discovery Services Market Scenario(https://www.marketresearchfuture.com/sample_request/5870 )

Market Research Future (MRFR) speculates that the global drug discovery services market is predicted to demonstrate 10.8% CAGR during the forecast period (2017-2023) owing to the rising demand for cancer treatment. Drug discovery is referred to as the process of designing a new drug. The most common methods employed are random screening, molecular manipulation, molecular designing, drug metabolites, and serendipity. They are designed to reduce the timeline and cost of drug discovery. With the occurrence of several life-threatening syndromes and initiation of health-related issues, it has become important to discover advanced, latest, and competent drugs in order to fight against illness.

Drug Discovery Services Market Potential and Pitfalls

With the augmenting demand for cancer treatment, rising expenditure on healthcare, and technological advancements, the global market for drug discovery services is estimated to flourish throughout the appraisal period. As per the World Health Organization, cancer is considered as one of the leading causes of mortality. Cancer-causing infections are responsible for around 25% of cases of cancer among the low and middle-income economies. Factors such as the rising awareness regarding chronic diseases, patent expiration of blockbuster drugs, augmenting patient population, unmet medical requirements, enhancing regulatory framework, growing funding and reimbursement policies, and rising government assistance are predicted to bolster the market growth during the appraisal period. As the demand for competent drugs from the increasing affluent patients are increasing, the market is likely to experience a boom during the assessment period. Moreover, development in the field of biotechnology, molecular biology, nanotechnology, and genomics have triggered the investment in drug discovery services across the world.

On the contrary, some of the major setbacks impeding the growth of the market are strict regulations from the FDA, a huge capital investment with low-profit margins, and poor healthcare infrastructure both in low and middle-income economies. Moreover, drug discovery requires a longer period and huge investments, which further results in fewer profit margins for pharmaceutical companies.

Global Drug Discovery Services Market: Segmental Analysis

The global drug discovery services market has been segmented on the basis of types of services, drug type, therapeutic area, technology, process, and end-user.

By mode of drug type, the global drug discovery services market has been segmented into small molecule drug and biologics drug. Among these, the small molecule drug segment is estimated to occupy a larger share mainly due to their features. They affect other molecules, can easily enter cells and causes the cancer cells to die.

By mode of types of services, the global drug discovery services market has been segmented into pharmaceutical services, drug metabolism & pharmacokinetics (DMPK) services, biological services, and medicinal chemistry. Among these, the medicinal chemistry is likely to occupy a larger market share as the pharmaceutical companies are more inclined towards outsourcing.

By mode of technology, the global drug discovery services market has been segmented into biochips, high throughput screening, combinatorial chemistry, pharmacogenomics and pharmacogenetics, spectroscopy, nanotechnology, metabolomics, and others.

By mode of therapeutic area, the global drug discovery services market has been segmented into neurology, oncology, respiratory diseases, cardiovascular diseases, diabetes, and others. Among these, the oncology segment is predicted to dominate the global market owing to the rising number of patients suffering from cancer, which demands cancer therapies.

By mode of process, the global drug discovery services market has been segmented into target validation, selection, lead optimization, hit-to-lead identification, and candidate validation. Among these, the hit-to-lead identification is predicted to dominate the global market owing to the growing research based on high-throughput screening.

By mode of end-user, the global drug discovery services market has been segmented into pharmaceutical companies, hospitals and clinics, research institutes, biotechnology companies, and others.

Drug Discovery Services Market Regional Insights

Geographically, the drug discovery services market span across regions namely, Europe, America, Asia Pacific, and the Middle East & Africa.

Among all the regions, the American region is predicted to dominate the drug discovery services market due to the growing prevalence of chronic diseases among the global population coupled with the increasing healthcare expenditure. As per the data suggested the suggested by the CDC, approximately 92.1 million adults suffer from at least one type of cardiovascular disease. Around 15.1% of the adults in the U.S. smoked cigarettes, which accounted for 480,000 deaths in 2015. Almost 86% of the total healthcare cost in the U.S. is spent on people suffering from mental health conditions and chronic diseases.

The European region is estimated to occupy the second-largest position in the global market owing to the financial support by the government towards patent expiration of blockbuster drugs and R&D activities.

The Asia Pacific region is considered to expand at the fastest rate owing to the presence of a huge patient population coupled with the development in the pharmaceutical sector. Moreover, the expenditure on healthcare is anticipated to boost in some of the nations of this region, which is likely to contribute to the market.

Industry Updates

February 14, 2019: Sygnature Discovery and Pathios Therapeutics have recently signed an innovative and strategic partnership agreement which aims toward the development programs and drug discovery of Pathios. The companies will collaborate on integrated drug discovery and will target a novel G protein-coupled receptor. Sygnature will offer expertise in medicinal chemistry and GPCR bioscience, which will further be used to expand Pathios’ current hit-to-lead program.

Drug Discovery Services Market Competitive Dashboard

The prominent players operating the global drug discovery services market are WuXi AppTec, Promega Corporation, Thermo Fisher Scientific, Shimadzu Corp., Charles River Laboratories International, ChemBridge Corporation, Domainex, Viva Biotech, Agilent Technologies Ubiquigent, Eli Lilly and Company, Aurigene, Covance, Albany Molecular Research Inc. (AMRI), GE Healthcare, SRI International, Jubilant Biosys, Selcia Limited, Merck, Syngene International Ltd., Advinus Therapeutics, F. Hoffmann-La Roche Ltd, GVK Biosciences, Bayer AG, GenScript, Evotec, Pharmaceutical Product Development LLC (PPD), Piramal Enterprises, AstraZeneca PLC, GlaxoSmithKline LLC, Lonza, Abbott Laboratories Inc., and others.

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