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Drug Discovery Market worth $157.13 billion by 2030, growing at a CAGR of 14.10% - Exclusive Report by 360iResearch
Drug Discovery Market | 360iResearch
The Global Drug Discovery Market to grow from USD 62.38 billion in 2023 to USD 157.13 billion by 2030, at a CAGR of 14.10%.
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Drug discovery is a multifaceted and intricate process that encompasses the identification of novel compounds, the elucidation of their biological targets, and the determination of their therapeutic potential for the treatment of diseases. This process is fundamental to developing new medicines and involves a collaborative effort among scientists from various disciplines, including biology, chemistry, pharmacology, and medicine. Rising research and development (R&D) expenditure in the pharmaceutical and biopharmaceutical industry and favorable government support for developing drug discovery platforms are propelling the market growth. In addition, the increasing need to manage large amounts of data generated during preclinical studies is fueling market growth. The necessity of extensive capital for drug discovery and development and stringent norms for animal usage in drug discovery are hampering market growth. Technological advancements and innovations in drug discovery and the growing use of AI cloud to create a streamlined and automated approach to drug discovery are expected to be poised for significant growth in drug discovery.
Americas represents a robust drug discovery infrastructure with significant investments in R&D, a strong presence of pharmaceutical giants, and a conducive regulatory environment. Increasing investment in healthcare infrastructure and growing need for medical innovation to address local health concerns are accelerating the need for drug discovery solutions in the Americas. In Europe, the need for drug discovery is fueled by advanced healthcare systems, substantial government and private funding, and a strong focus on innovation and collaboration across countries. The Middle East and Africa exhibit growing need, with increased healthcare spending and initiatives to foster local pharmaceutical industries. The Asia-Pacific region is rapidly emerging as a significant player in the drug discovery market due to its large population, increasing economic prosperity, improvements in healthcare infrastructure, rising healthcare awareness, and government initiatives to support the biotechnology and pharmaceutical sectors.
Market Segmentation & Coverage:
This research report categorizes the Drug Discovery Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Drug Type, market is studied across Biologic Drugs and Small Molecule Drugs. The Small Molecule Drugs commanded largest market share of 71.50% in 2023, followed by Biologic Drugs.
Based on Technology, market is studied across Bioanalytical Instruments, Biochips, Bioinformatics, Combinatorial Chemistry, High Throughput Screening, Nanotechnology, and Pharmacogenomics. The Bioanalytical Instruments commanded largest market share of 17.62% in 2023, followed by Pharmacogenomics.
Based on Therapeutic Area, market is studied across Cardiovascular Disease, Digestive System Diseases, Infectious & Immune system Diseases, Neurology, and Oncology. The Cardiovascular Disease commanded largest market share of 18.54% in 2023, followed by Infectious & Immune system Diseases.
Based on End User, market is studied across Academics & Research Institutes, Contract Research Organizations, and Pharmaceutical Companies. The Pharmaceutical Companies commanded largest market share of 69.37% in 2023, followed by Contract Research Organizations.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Georgia, Illinois, Indiana, Michigan, New York, North Carolina, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 36.22% in 2023, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Drug Discovery Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Drug Discovery Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Drug Discovery Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, Agilent Technologies, Inc., Alacrita Holdings Limited, Astex Pharmaceuticals by Otsuka Pharmaceutical Co., Ltd., Astrazeneca PLC, Atomwise, Inc., BenevolentAI, Bio-Rad Laboratories, Inc., BioSymetrics Inc., Charles River Laboratories International, Inc., Chembridge Corporation, Cloud Pharmaceuticals, Inc., Dalriada Drug Discovery, Deciphera Pharmaceuticals, Inc., Evotec SE, F. Hoffmann-La Roche Ltd., GENFIT SA, Incyte Corporation, International Business Machines Corporation, Intra-Cellular Therapies Inc., Merck KGaA, Microsoft Corporation, NVIDIA Corporation, PerkinElmer, Inc., Pharmacelera SL, Piramal Group, Recursion Pharmaceuticals, Inc., Schrödinger, Inc., Shimadzu Corporation, and Thermo Fisher Scientific Inc..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Drug Discovery Market, by Drug Type
7. Drug Discovery Market, by Technology
8. Drug Discovery Market, by Therapeutic Area
9. Drug Discovery Market, by End User
10. Americas Drug Discovery Market
11. Asia-Pacific Drug Discovery Market
12. Europe, Middle East & Africa Drug Discovery Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Drug Discovery Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Drug Discovery Market?
3. What is the competitive strategic window for opportunities in the Drug Discovery Market?
4. What are the technology trends and regulatory frameworks in the Drug Discovery Market?
5. What is the market share of the leading vendors in the Drug Discovery Market?
6. What modes and strategic moves are considered suitable for entering the Drug Discovery Market?
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About 360iResearch
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