Drug Discovery Services Market reached US$ 15.58 billion in 2023 and is expected to reach US$ 46.52 billion by 2031 - Piramal Pharma Solutions, Biopta, Charles River Laboratories International.

The Global Drug Discovery Services Market reached US$ 15.58 billion in 2023 and is expected to reach US$ 46.52 billion by 2031, growing at a CAGR of 14.8% during the forecast period 2024-2031.

Drug Discovery Services Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Drug Discovery Services involve research, screening, and development processes to identify new pharmaceutical compounds. These services utilize AI, big data, and biotechnology to accelerate drug development and reduce costs. They are crucial for pharmaceutical companies in addressing diseases and pandemics. Partnerships between biotech firms and AI startups are enhancing drug discovery efficiency.

List of the Key Players in the Drug Discovery Services Market:

Piramal Pharma Solutions, Biopta, Charles River Laboratories International, Domainex, Evotec AG, Albany Molecular Research Inc., GenScript, Pharmaceutical Product Development, LLC (PPD), WuXi AppTec, and Merck & Co., Inc., among others.

Industry Development:

In May 2023, Google Cloud unveiled two AI-powered tools, the Target and Lead Identification Suite and the Multiomics Suite, designed to help biotech and pharmaceutical companies speed up drug development and push forward precision medicine innovations.

Then, in April 2023, Daewoong, a leading pharmaceutical firm, teamed up with Sygnature, a global drug discovery company, to work together on finding a novel small molecule aimed at treating autoimmune diseases.

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Growth Forecast Projected:

The Global Drug Discovery Services Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Drug Discovery Services Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Drug Discovery Services Market:

By Process type: Profiling & lead optimization, Screening, Assay development, Cell engineering.

By Service Type: Computational Chemistry, Medical chemistry, ADME &DMPK, Biochemistry.

By application type: Oncology, Neurology, Metabolic & Inflammatory Disease, Immuno-Oncology.

Regional Analysis for Drug Discovery Services Market:

The regional analysis of the Drug Discovery Services Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Drug Discovery Services market?

➠ Who are the leading manufacturers in the global Drug Discovery Services industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Drug Discovery Services industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Drug Discovery Services market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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