The Global Drug Discovery Service Market was valued at USD 9649.12 million in 2019 and is expected to grow at 14.0% CAGR during the forecast period 2021-2029.

Drug Discovery Service Market 2021

Drug discovery is the process of designing a new drug by employing various methods such as molecular manipulation, random screening, drug metabolites, and others. Drug discovery services are services and support to the drug discovery process that are designed to help minimize the costs and reduce the time investments in the discovery process. In pharmacology, biotechnology, and medicine domains, the method of drug discovery is a crucial process within R&D departments and thus, drug discovery services find major applications to enable the design and discovery of new therapeutics and medications. Further, drug target recognition, drug discovery selection, and drug design based on processes such as lead compound recognition, lead optimization, and others form the core of drug discovery services.

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The Major Manufacturers Covered in this Report:
Thermo Fisher Scientific, Inc.(The U.S.), Albany Molecular Research, Inc. (The U.S.), Charles River Laboratories International, Inc. (The U.S.), Evotec A.G. (Germany), Domainex (UK), GenScript Biotech Corporation (China), Laboratory Corporation of America Holdings (The U.S.), WuXi AppTec (China), Pharmaceutical Product Development, LLC (The U.S.), Jubilant Biosys Ltd. (India), Eurofins Scientific SE (Luxembourg), Piramal Enterprises Ltd. (India).

Years that have been considered for the study of this report are as follows:

History Year: 2015-2019
Base Year: 2019
Estimated Year: 2020
Forecast Year: 2021 to 2029

Market Segmentation:

By Type

Pharmacokinetics
Drug Metabolism
Biology Services
Medicinal Chemistry
Others

By Process

Target Validation
Target Selection
Hit-To-Lead Identification
Candidate Validation
Lead Optimization
Others

By Drug Type

Biologics
Small Molecules

By Therapeutic Area

Neurology
Diabetes
Oncology
Respiratory Diseases
Cardiovascular Diseases
Others

By End-User

Hospital & Clinics
Pharmaceutical Companies
Biotechnology Companies
Research Institute

Regional Segmentation:

North America (The US, Canada, and Mexico)
Europe (Germany, France, the UK, and Rest of the World)
Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
Latin America (Brazil and Rest of Latin America.)
Middle East & Africa (Saudi Arabia, the UAE, South Africa, and Rest of Middle East & Africa)

Asia-Pacific’s Prevalence of Chronic Lifestyle Disorders

The APAC regional market is expected to witness a significant boost in the CAGR during the forecast period. This can be attributed to a number of factors such as the rising prevalence of chronic lifestyle disorders within the region that fuels companies to R&D therapeutics in these domains. Further, the growing number of biopharmaceutical companies within the region also boosts the market as more and more opportunities are created for drug discovery services. Further, business strategies and partnership within the region is expected to have a significant positive impact on the market. For instance, in 2020, Eurofins agreed to enter into a business partnership with PharmaResources (China) which is aimed to enable both companies to build a joint drug discovery platform to focus on small molecule drug development. Also growing investments for drug development has been a major driver within the market.

The analysis objectives of the report are:

To equitably share in-depth info regarding the crucial elements impacting the increase of industry (growth capacity, chances, drivers and industry specific challenge and risks).
To know the Drug Discovery Service Market by pinpointing its many sub segments.
To profile the important players and analyze their growth plans.
To endeavor the amount and value of the Drug Discovery Service Market sub-markets, depending on key regions (various vital states).
To analyze the Global Drug Discovery Service Market concerning growth trends, prospects and also their participation in the entire sector.
To examine and study the Global Drug Discovery Service Market size (volume and value) form the company, essential regions/countries, products and applications, background information and also predictions.
Primary worldwide Global Drug Discovery Service Market manufacturing companies, to specify, clarify and analyze the product sales amount, value and market share, market rivalry landscape, SWOT analysis and development plans for the next coming years.
To examine competitive progress such as expansions, arrangements, new product launches and acquisitions on the market.

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This release was published on openPR.