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Drug Discovery Services Global Market By Process, By Drug Type, By Therapeutic Area, By Service Type, By End-user, By Region And Segment Forecasts, 2023-2032 | Advinus Therapeutics, Jubilant Biosys Ltd., Evotec AG, Bayer AG, Merck KGaA
Drug Discovery Services Market Size, Growth Rate, And Forecast
The global drug discovery services market size is expected to grow from $14.22 billion in 2022 to $16.15 billion in 2023 at a compound annual growth rate (CAGR) of 13.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The drug discovery services market is expected to grow to $26.06 billion in 2027 at a CAGR of 12.7%.
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Drug Discovery Services Market Drivers
The growing focus on drug discovery trials is expected to propel the drug discovery services market. The drug development life cycle is critical for ensuring safe and effective drug delivery. Due to this, clinical trials are gaining prominence as an essential component of drug development.
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Drug Discovery Services Market Segments
• By Type: Chemistry Services, Biology Services
• By Process: Target Selection, Target Validation, Hit-to-Lead Identification, Lead Optimization, Candidate Validation
• By Drug Type: Biologics Drug , Small Molecule Drug
• By End user: Pharmaceuticals and Biotechnology Companies, Academic Institutes, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Drug discovery services market.
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Drug Discovery Services Market Key Players
Major competitors in the Drug discovery services market include Thermo Fisher Scientific Inc., Albany Molecular Research Inc., Charles River Laboratories International Inc., Laboratory Corporation of America Holdings, Domainex, GenScript Biotech Corporation, Pharmaceutical Product Development LLC, Agilent Technologies Inc., Advinus Therapeutics, Jubilant Biosys Ltd., Evotec AG, Labcorp Drug Development, Syngene International Ltd., Bayer AG, Merck KGaA, and Ubiquigent.
The Business Research Company's "Global Drug Discovery Services Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table of Content for The Drug Discovery Services Market Include:
1. Executive Summary
2. Drug Discovery Services Market Characteristics
3. Drug Discovery Services Market Trends And Strategies
4. Drug Discovery Services Market - Macro Economic Scenario
5. Drug Discovery Services Market Size And Growth
.....
26. Africa Drug Discovery Services Market
27. Drug Discovery Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Drug Discovery Services Market
29. Drug Discovery Services Market Future Outlook and Potential Analysis
30. Appendix
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