Press release
The report reveals that the drug discovery services market was valued at USD 16.8 Bn in 2021 and expected to reach at USD 53.58 Bn in 2029, with a compound annual growth rate (CAGR) of 15.6 Percent expected during the forecast period.
Drug Discovery Services Market
The Drug Discovery Services Market report provides comprehensive insights into the market at both global and country levels. It analyzes the latest industry trends in various sub-segments, including process, therapeutic area, type, end-user, and region. The report offers strategic profiling of key market players, highlighting their core competencies and strategies such as new product launches, growths, agreements, joint ventures, partnerships, and acquisitions. Additionally, the report presents valuable data in excel files, pivot tables, and assists in creating presentations using the available data sets.
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Drug Discovery Services Market Dynamics:
Several factors are driving the growth of the Drug Discovery Services Market. The increasing adoption of artificial intelligence (AI) in drug discovery is revolutionizing the industry, enabling enhanced analysis of research and results. Pharmaceutical companies are collaborating with AI-driven organizations to optimize drug discovery services, leading to improved efficiency and safety. Additionally, the rising incidence of chronic diseases worldwide, such as cancer, diabetes, cardiovascular disease, and respiratory diseases, is fueling the demand for drug discovery services. The pharmaceutical industry's increasing investment in research and development (R&D) activities, particularly in the biopharmaceutical sector, is also contributing to market growth. Furthermore, the growing demand for novel therapies across various therapeutic areas and the need to outsource R&D activities are driving the market forward.
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Despite the promising growth prospects, the Drug Discovery Services Market faces certain challenges. Stringent regulations governing drug discovery and clinical research on animals pose ethical and operational challenges for companies. Animal use in research is subject to strict guidelines, leading to increased costs and the need for alternative techniques. Additionally, a lack of skilled labor and a high rate of target drug molecule failure hinder the market's growth potential.
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Drug Discovery Services Market Regional Insights:
North America currently dominates the Drug Discovery Services Market, driven by well-established contract research organizations (CROs), increased R&D expenditure by pharmaceutical and biopharmaceutical companies, and advanced research facilities. However, Asia Pacific is expected to exhibit the highest growth rate during the forecast period. The region is becoming a major hub for outsourcing drug discovery operations due to its skilled labor pool, favorable regulatory framework, lower costs, and high-quality data.
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Drug Discovery Services Market Segmentation
By Process:
• Target Selection
• Target Validation
• Hit-to-Lead identification
• Lead Optimization
• Candidate Validation
•
By Type:
• Medicinal Chemistry
• Biology Services
• Drug Metabolism and Pharmacokinetics
By Therapeutic Area:
• Oncology
• Neurology
• Cardiovascular Diseases
• Respiratory Diseases
• Diabetes and Other Therapeutic Areas
By End-User:
• Pharmaceutical & Biotechnology companies
• Academic Institutes
• Other End Users (small CROs, IVD companies, and clinical laboratories)
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Drug Discovery Services Market Key Competitors include:
• Thermo Fisher Scientific (US)
• Merck (US)
• GE Healthcare (US)
• Pharmaceutical Product Development, LLC. (Ppd) (US)
• Covance (US)
• Genscript Biotech Corporation (US)
• Laboratory Corporation of America Holdings (US)
• SRI International (US)
• BioDuro (US)
• Cullgen (US)
• Nanosyn (US)
• Radyus Research (US)
• Visikol Inc (US)
• Aurobindo Pharma (India)
• Dr. Reddy's Laboratories (India)
• Jubilant Biosys Ltd. (India)
• Lupin Pharmaceuticals (India)
• Sun Pharmaceutical Industries Ltd. (India)
• Serum Institute of India Pvt. Ltd. (India)
• Syngene International Limited (India)
• Piramal Enterprises Ltd (India)
• Eurofins Advinus Limited (India)
• Dalton Pharma Services (Canada)
• Domainex (UK)
• Selcia Limited (UK)
• Selvita S.A. (Poland)
• Wuxi Apptec (China)
• Viva Biotech (China)
• SYNthesis Med Chem (Australia)
• Lonza Group AG (Switzerland)
• Evotec A.G. (Germany)
Table of Content for Drug Discovery Services Market
1. Global Drug Discovery Services Market: Research Methodology
2. Global Drug Discovery Services Market: Executive Summary
• Market Overview and Definitions
• Introduction to Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global Drug Discovery Services Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4. Global Drug Discovery Services Market Segmentation
• Global Market, by Process (2021-2029)
• Global Market, by Type (2021-2029)
• Global Market, by Therapeutic Area (2021-2029)
• Global Market, by End-User (2021-2029)
5. Regional Drug Discovery Services Market (2021-2029)
• Regional Market, by Process (2021-2029)
• Regional Market, by Type (2021-2029)
• Regional Market, by Therapeutic Area (2021-2029)
• Regional Market, by End-User (2021-2029)
• Regional Market, by Country (2021-2029)
6. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Process, Type, Therapeutic Area and End-User
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
o Competitive landscape - Market Leaders, Market Followers, Regional player
o Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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