Global Drug Discovery Market Size 2023 Growth Statistics, International Expansion, New Developments And Forecast To 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Drug Discovery Market Size, Growth Rate, And Forecast:
The global drug discovery market size grew from $85.42 billion in 2022 to $98.48 billion in 2023 at a compound annual growth rate (CAGR) of 15.3%. 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 market size is expected to grow to $158.67 billion in 2027 at a CAGR of 12.7%.

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Drug Discovery Market Drivers:
Rising healthcare expenditure is expected to propel the drug discovery market going forward. Countries around the world are spending a major share of their GDP on healthcare expenses which include hospital care, physician and clinical services, other professional services, dental services, other health, residential, and personal care, home health care, nursing care facilities, and continuing care retirement communities, prescription drugs, and others. Drug discovery holds a significant part of the health expenditure, as it is required to treat diseases and prolong life. There is an increasing need for new drugs to treat new diseases.

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Drug Discovery Market Segments:
By Drug Type: Small Molecule, Large Molecule
By Process: Target Selection, Target Validation, Hit-to-Lead Identification, Lead Optimization, Candidate Validation
By Technology: High Throughput Screening, Spectroscopy, Combinatorial Chemistry, Biochips, Pharmacogenomics and Pharmacogenetics, Bioinformatics, Metabolomics, Nanotechnology, Other Technologies
By Therapeutic Area: Oncology, Neurology, Infectious and Immune System Diseases, Digestive System Diseases, Cardiovascular Diseases, Diabetes, Respiratory Disease, Other Therapeutic Areas
By End User: Pharmaceutical Companies, CROs, 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 Market.

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Drug Discovery Market Key Players:
Major competitors in the drug discovery market include Pfizer Inc., GlaxoSmithKline PLC, Merck & Co. Inc., Agilent Technologies Inc., Eli Lilly and Company.

The Business Research Company's "Global Drug Discovery 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 Market Include:
1. Executive Summary
2. Drug Discovery market Characteristics
3. Drug Discovery market Trends And Strategies
4. Drug Discovery market - Macro Economic Scenario
5. Drug Discovery market Size And Growth
……
26. Africa Drug Discovery market
27. Drug Discovery market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Drug Discovery market
29. Drug Discovery market Future Outlook and Potential Analysis
30. Appendix

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