Press release
Drug Discovery Services Market to reach USD 61.93 Bn by 2030, emerging at a CAGR of 15.6 percent and forecast 2024-2030
Drug Discovery Services Market, Drug Discovery Services Market Scope, Drug Discovery Services Market Growth,
The report encompasses a thorough analysis of market values, drivers, restraints, and regional trends. It evaluates the market's evolution from a valuation of USD 22.45 Billion in 2023 to a projected USD 61.93 Billion by 2030, exhibiting a robust CAGR of 15.6% during the forecast period.
The report's scope extends across various facets of the drug discovery services market, exploring industry dynamics such as AI integration, growth in drugs and biologics, the burden of chronic diseases, escalating R&D expenditures, and the demand for novel therapies in diverse therapeutic areas. It covers the market's segmentation based on process, therapeutics area, type, end-user, and region. Additionally, the report includes a strategic profiling of key market players, analyzing their core competencies and strategies, including product launches, partnerships, agreements, joint ventures, and acquisitions.
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What are Drug Discovery Services Market Dynamics:
AI is a potential technique for improving drug discovery. The use of artificial intelligence (AI) to analyze the research and result of the drug is expected to help drug discovery services. Artificial intelligence may help in analyzing the structure of proteins before a chemical is synthesized or produced, which can help predict how it will influence the target as well as safety issues. As a result, the market for drug discovery services is expected to develop significantly throughout the forecast period. The gradual increase in regional healthcare spending supports new pharmaceutical technology advancements. For example, Bayer and Exscientia, a company that uses artificial intelligence in drug discovery, signed a collaboration agreement in January 2020 to develop and optimize integrated drug discovery services for prospective therapeutic candidates in the treatment of cardiovascular and oncological disorders.
The FDA approved 160 drugs in the previous three years (2018-2020), compared to only 21 drugs approved in 2010. This increase in the number of authorized drugs globally can be attributed to increased investments by biopharmaceutical companies in the development of biologics and biosimilars. More than half of the drug candidates in the discovery stage are biologics, such as proteins, peptides, and monoclonal antibodies. In 2022, biologics are estimated to provide almost half of the revenue earned by the top 100 pharmaceutical product sales.
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Drug Discovery Services Market Regional Insights:
On the other hand, Asia Pacific is anticipated to experience the highest Compound Annual Growth Rate (CAGR) during the forecast period. This region is establishing itself as a pivotal hub for outsourcing drug discovery operations, owing to factors such as the availability of skilled labor, cost advantages, a favorable regulatory framework, and high-quality data. Japan, home to the world's second-largest pharmaceutical sector, is expected to contribute significantly to this growth. The revised Pharmaceutical Affairs Law in Japan supports research activities in tissue diagnostics and cancer, enhancing the market's prospects in the region. The overall growth in the Asia Pacific Drug Discovery Services Market is indicative of the industry's shift towards emerging markets for enhanced operational efficiency and cost-effectiveness. As the pharmaceutical landscape continues to evolve, these regional insights provide a crucial understanding of the global Drug Discovery Services Market's diverse and dynamic nature.
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What is 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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Who are Drug Discovery Services Market Key Players:
1. Thermo Fisher Scientific (US)
2. Merck (US)
3. GE Healthcare (US)
4. Pharmaceutical Product Development, LLC. (Ppd) (US)
5. Covance (US)
6. Genscript Biotech Corporation (US)
7. Laboratory Corporation of America Holdings (US)
8. SRI International (US)
9. BioDuro (US)
10. Cullgen (US)
11. Nanosyn (US)
12. Radyus Research (US)
13. Visikol Inc (US)
14. Aurobindo Pharma (India)
15. Dr. Reddy's Laboratories (India)
16. Jubilant Biosys Ltd. (India)
17. Lupin Pharmaceuticals (India)
18. Sun Pharmaceutical Industries Ltd. (India)
19. Serum Institute of India Pvt. Ltd. (India)
20. Syngene International Limited (India)
21. Piramal Enterprises Ltd (India)
22. Eurofins Advinus Limited (India)
23. Dalton Pharma Services (Canada)
24. Domainex (UK)
25. Selcia Limited (UK)
26. Selvita S.A. (Poland)
27. Wuxi Apptec (China)
28. Viva Biotech (China)
29. SYNthesis Med Chem (Australia)
30. Lonza Group AG (Switzerland)
31. Evotec A.G. (Germany)
Table of content for the Drug Discovery Services Market includes:
1. Global Drug Discovery Services Market: Research Methodology
2. Global Drug Discovery Services Market: Executive Summary
• Market Overview and Definitions
• Introduction to the 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 . Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape (2022 to 2029)
• Past Pricing and price curve by region (2022 to 2029)
• Market Size, Share, Size and Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by growth and trend
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• 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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