Press release
Global Drug Discovery Services Market: Projections, Key Drivers, and Emerging Trends
Drug Discovery Services Market
What Is The Projected Market Size Of The Global Drug Discovery Services Market And Its Growth Rate?
• The drug discovery services market will grow from $18.27 billion in 2024 to $20.59 billion in 2025 with a CAGR of 12.7%. Growth factors during this period include increased R&D investment, expanding disease burden, governmental backing, emergence of CROs, a shift towards personalized medicine, and drug repurposing strategies.
• The market size is expected to witness rapid growth over the following years, reaching $33.88 billion in 2029, growing at a CAGR of 13.3%. The growth trends in this period will be led by changes in regulations, advancements in drug delivery systems, increased interest in immunotherapy, a shift towards RNA-based therapeutics, and targeting rare diseases.
What Is Driving The Growth In The Drug Discovery Services Market?
Increased focus on drug discovery trials is poised to propel the drug discovery services market growth. The drug development life cycle, critical for safe and effective drug delivery, emphasizes clinical trials as a vital component of drug development. As innovation permeates healthcare and drug development takes center stage, the demand for drug discovery trials is on a global upswing.
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Who Are the Key Players Driving Drug Discovery Services Market Growth?
• Thermo Fisher Scientific Inc.
• Albany Molecular Research Inc.
• Charles River Laboratories International Inc.
• Laboratory Corporation of America Holdings
• Domainex Ltd.
• GenScript Biotech Corporation
• Pharmaceutical Product Development LLC
• Advinus Therapeutics Pvt. Ltd.
• Jubilant Biosys Ltd.
• Evotec AG
What Are The Key Trends In The Drug Discovery Services Market?
• Adoption of advanced technologies
• Growth in biologicals and biopharmaceuticals
• High-throughput screening advancements
• Progress in virtual screening
• A focus on regenerative medicine
What Are The Segments Of The Global Drug Discovery Services Market?
• By Type: Chemistry Services, Biology Services
• By Process: Target Selection, Target Validation, Hit-To-Lead identification, Lead Optimization, Candidate Validation
• By Drug Type: Biologics Drug, Small Molecule Drug
• By End user: Pharmaceutical And Biotechnology Companies, Academic Institutes, Other End Users
Which Region Leads The Drug Discovery Services Market?
In 2024, North America held the largest share of the drug discovery services market. The report also covers other key regions including Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Drug Discovery Services Market Global Market Report?
• Market Size Analysis: Analyze the Drug Discovery Services Market size by key regions, countries, product types, and applications.
• Market Segmentation Analysis: Identify various subsegments within the Drug Discovery Services Market for effective categorization.
• Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
• Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
• Market Contribution: Evaluate contributions of different segments to the overall Drug Discovery Services Market growth.
• Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
• Industry Challenges: Analyze challenges and risks affecting the Drug Discovery Services Market.
• Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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