Press release
๏ปฟDrug Discovery Services Market Size Surges to USD 61.93 Billion by 2030
Drug Discovery Services Market
Drug Discovery Services Market was valued at USD 22.45 Billion in 2023 and is expected to reach USD 61.93 Billion by 2030 at a CAGR of 15.6% during the forecast period.
Drug Discovery Services Market Overview:
The drug discovery process involves identifying potential new medicines through an interdisciplinary approach that includes biology, chemistry, and pharmacology. Each year, the Center for Drug Evaluation and Research (CDER) approves a variety of new drugs, with 50 new drugs approved in 2022 alone. There are approximately 5,100 pharmaceutical companies actively engaged in drug discovery R&D. To enhance profitability and reduce R&D costs, major pharmaceutical companies are collaborating with clinical research organizations (CROs) to provide comprehensive drug discovery services.
๐๐จ๐ฎ๐ซ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฌ ๐๐ฎ๐ฌ๐ญ ๐ ๐๐ฅ๐ข๐๐ค ๐๐ฐ๐๐ฒ: https://www.maximizemarketresearch.com/request-sample/6672/
Drivers in the Drug Discovery Services Market:
Key drivers in the drug discovery services market include increasing R&D investments in the pharmaceutical and biopharmaceutical industries, a growing demand for outsourced analytical testing services, and initiatives focused on rare diseases and orphan drug research. The rising burden of chronic diseases such as cancer, diabetes, and cardiovascular diseases is significantly boosting the need for new drug discovery and development. Additionally, the expansion of biopharmaceuticals and the growing geriatric population contribute to the increased demand for drug discovery services.
Drug Discovery Services Market Trends:
A significant trend in the drug discovery services market is the integration of artificial intelligence (AI). AI is being used to enhance drug discovery processes by predicting the influence and safety of chemical compounds before they are synthesized. This technological advancement is expected to drive substantial growth in the market. Furthermore, there is a notable shift towards biologics and biosimilars, with more than half of the drug candidates in the discovery stage being biologics. The increasing approval rates of these drugs underscore the market's shift towards advanced therapeutic solutions.
๐๐๐๐ ๐๐จ๐ซ๐ ๐๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐จ๐ฎ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ + ๐๐ซ๐๐ฉ๐ก๐ฌ ๐๐๐ซ๐:๏ปฟ https://www.maximizemarketresearch.com/inquiry-before-buying/6672/
Drug Discovery Services Market Opportunities:
The drug discovery services market presents numerous opportunities, particularly in the context of increasing healthcare expenditures and technological advancements. The growing demand for novel therapies for chronic diseases is driving pharmaceutical and biopharma companies to outsource their R&D activities to CROs, aiming to maximize productivity and minimize financial burdens. Additionally, the rise in geriatric populations and the prevalence of chronic diseases are expected to further propel the market. Regulatory support and the active involvement of agencies like the FDA and EMA in approving new medicines are also fostering market growth.
What is Drug Discovery Services Market Regional Insight?
North America leads the drug discovery services market, driven by the presence of established CROs, substantial R&D spending by pharmaceutical companies, and advancements in biosimilar and biologics markets. The region benefits from cutting-edge techniques and facilities for drug discovery research. Meanwhile, the Asia-Pacific region is anticipated to exhibit the highest CAGR during the forecast period. The region is emerging as a hub for outsourcing drug discovery due to its skilled labor, lower costs, favorable regulatory environment, and high-quality data. Japan, with its significant pharmaceutical sector, presents notable opportunities for CROs, supported by revised regulations that enhance research activities in fields like tissue diagnostics and oncology.
๐๐ฎ๐ซ๐ข๐จ๐ฎ๐ฌ ๐ญ๐จ ๐ฉ๐๐๐ค ๐ข๐ง๐ฌ๐ข๐๐? ๐๐ซ๐๐ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ง๐จ๐ฐ:๏ปฟ https://www.maximizemarketresearch.com/request-sample/6672/ ๏ปฟ๏ปฟ
Segmentation Analysis of the Drug Discovery Services Market:
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)
Who is the largest manufacturers of Drug Discovery Services Market worldwide?
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)
๐๐๐ญ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐๐ง ๐๐ก๐ ๐๐ฎ๐ซ๐๐ก๐๐ฌ๐ ๐๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ @ https://www.maximizemarketresearch.com/market-report/global-drug-discovery-services-market/6672/ ๏ปฟ
Key Offerings:
Past Market Size and Competitive Landscape
Drug Discovery Services Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Drug Discovery Services Market Segmentation - A detailed analysis by Product
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
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