Press release
Drug Discovery Services Market Size, Share growth, s and Forecast 2022-2030
New York , United States- Report Ocean presents a new report on Drug Discovery Services market size, share, growth, industry trends, and forecast 2030, covering various industry elements and growth trends helpful for predicting the market's future.Request To Download Sample of This Strategic Report :- https://reportocean.com/industry-verticals/sample-request?report_id=Pol246
The global drug discovery services market size was US$ 9,112 million in 2021. The global drug discovery services market is forecast to grow to US$ 19,512 million by 2030 by registering a compound annual growth rate (CAGR) of 9.1% during the forecast period from 2022 to 2030.
In order to produce a holistic assessment of the market, a variety of factors is considered, including demographics, business cycles, and microeconomic factors specific to the market under study. Drug Discovery Services market report 2022 also contains a comprehensive business analysis of the state of the business, which analyzes innovative ways for business growth and describes critical factors such as prime manufacturers, production value, key regions, and growth rate.
Factors Influencing the Market
The rising demand for novel drugs will drive the growth of the drug discovery services market in the coming years. In addition, changing market dynamics and increasing demand for accurate and robust analytical testing will drive the market forward during the forecast period.
Growing investments in research and development and the rising trend of big data, artificial intelligence will offer ample growth opportunities for the market. Pfizer invested nearly US$ 7,690 million in R&D in 2016 and approximately US$ 8,650 million in 2019. Such investments are likely to propel the drug discovery services market forward.
The growing prevalence of chronic diseases will fuel the growth of the drug discovery services market. On the contrary, stringent regulatory requirements may limit the growth of the global drug discovery services market.
The rising individual spending on healthcare is forecast to benefit the market in the coming years.
COVID-19 Impact Analysis
The COVID-19 pandemic positively influenced the global drug discovery services market. Due to the wake of the pandemic, governments started focusing on the healthcare sector. The demand for novel drugs increased. Pharmaceutical companies also increased R&D activities in order to curb the spread of the virus. As a result, the drug discovery services market witnessed ample growth opportunities due to the COVID-19 pandemic.
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Regional Analysis
Of all the regions, the Asia-Pacific drug discovery services market is forecast to emerge as the largest market. The growth of the market will be mainly due to the contribution of emerging economies like China, India, and Japan. In addition, China held the largest share of this market in 2020, owing to the favorable government policies to boost healthcare expenditure. In addition, the presence of leading pharmaceutical companies in the region will benefit the market. Growing research and manufacturing base, together with the rising prevalence of diseases, will contribute to the growth of the market.
Market Segmentation
The global drug discovery services market segmentation focuses on Process, Type, Drug, Therapeutic Area, Company Type, and Region.
By Process
Target Selection
Target Validation
Hit-To-Lead Identification
Lead Optimization
Candidate Validation
By Type
Medicinal Chemistry Services
Biology Services
Drug Metabolism and Pharmacokinetics
By Drug Type
Small Molecule Drugs
Biologic Drugs
By Therapeutic Area
Oncology
Central Nervous Systems
Cardiovascular
Infectious Disease
Metabolic Disorders
Others
By Company Type
Tier 1 Pharmaceutical Companies
Tier 2 Pharmaceutical Companies
Tier 3 Pharmaceutical Companies
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By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Competitors in the Market
Thermo Fisher Schientific
Merck KGaA
Charles River Laboratories International
GE Healthcare
Evotec
Jubilant Biosys
Covance
Genscript Biotech Corporation
Aurigene Discovery Technologies
Wuxi Apptec
Syngene
Eurofins Scientific
Laboratory Corporation of America Holdings
GVK Biosciences Private Limited
Lonza Group AG
Piramal Enterprises Ltd.
Dalton Pharma Services
Viva Biotech
Selvita
Other Prominent Players
What are the aspects of this report that relate to regional analysis?
?The report's geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
?The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
?Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
?How are the key players in the market assessed?
?This report provides a comprehensive analysis of leading competitors in the market.
?The report includes information about the key vendors in the market.
?The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
?The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
?A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
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