Drug Discovery Technologies Market - By Size, Overview, Competitive Analysis And Forecast 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

The Business Research Company's Drug Discovery Technologies Global Market Report 2023 identifies rising prevalence of acute and chronic diseases as the major driver for the Drug Discovery Technologies market's growth in the forecast period. Chronic diseases last one year or more and require ongoing medical attention. Innovation in drug discovery technologies and drug development has brought many new treatments for chronic diseases. Integrating new and powerful emerging technologies, including digital health tools, AI, and machine learning, throughout the drug R&D process offers opportunities to address critical barriers and streamline clinical trials for prevalent chronic diseases.

The global drug discovery technologies market is expected to grow from $59.86 billion in 2022 to $66.08 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The drug discovery technologies market is expected to reach $97.09 billion in 2027 at a CAGR of 10.1%.

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Major competitors in the Drug Discovery Technologies market are F. Hoffmann-La Roche AG, Novartis AG, Thermo Fisher Scientific Inc., AstraZeneca plc., Merck KGaA, GE HealthCare Technologies Inc.

A key trend in the Drug Discovery Technologies market includes invention of advanced technologies. Major companies operating in the drug discovery technologies market are launching advanced technologies to sustain their position in the market. For instance, Google LLC, a US-based technology company, launched Target and Lead Identification Suite, an AI-based tool to accelerate drug discovery. It is made to assist businesses in foreseeing and comprehending protein structure, a crucial aspect of drug research. The Suite will assist researchers in ingesting, storing, analyzing, and sharing vast volumes of genetic data. The new suites will help businesses save statistically significant amounts of time and money through the drug development process. They will contribute to resolving a long-standing problem in the biopharmaceutical sector.

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The Drug Discovery Technologies market is segmented -

• By Technology: High Throughput Screening, Genomics, Nanotechnology, Bioinformatics, Combinational Chemistry, Pharmacogenomics, Biochips, Bioanalytical Instruments, Ribonucleic Acid Interface (RNAI)
• By Drug Type: Small Molecule Drugs, Biologic Drugs
• By Disease Application: Cancer Diseases, Immunological Diseases, Neurological Diseases, Cardiovascular Diseases, Other Disease Applications
• By End-User: Pharmaceutical Companies, Biopharmaceutical Companies, Biotechnology Companies, Research 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 Technologies market.

The Business Research Company's "Global Drug Discovery Technologies Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Drug Discovery Technologies Market Include:

1. Executive Summary
2. Drug Discovery Technologies Market Characteristics
3. Drug Discovery Technologies Market Trends And Strategies
4. Drug Discovery Technologies Market - Macro Economic Scenario
5. Global Drug Discovery Technologies Market Drivers and Restraints
………………………………………
32. Global Drug Discovery Technologies Market Competitive Benchmarking
33. Global Drug Discovery Technologies Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Drug Discovery Technologies Market
35. Drug Discovery Technologies Market Future Outlook and Potential Analysis
36. Appendix

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