Strong Growth Ahead: Drug Discovery Services Market Size To Grow At Arecord 13.3% Cagr By 2029

The Drug Discovery Services Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Drug Discovery Services Market Size Expected to Be by 2034?
The market size for drug discovery services has seen swift expansion in the latest years, rising from a value of $18.27 billion in 2024 to a forecasted value of $20.59 billion in 2025, marking a compound annual growth rate (CAGR) of 12.7%. The historic surge is owed to factors like escalated investment in R&D, a growing disease prevalence, government financial backings and assistance, the rise of contract research organizations (CROs), a shift towards individualized medicine, and strategies for drug repurposing.

The size of the drug discovery services market is projected to undergo significant expansion in the coming years, with an anticipated increase to $33.88 billion by 2029, reflecting a compound annual growth rate (CAGR) of 13.3%. This anticipated growth within the forecast period can be credited to alterations in the regulatory framework, drug delivery system innovations, heightened interest in immunotherapy, a trend towards RNA-based therapeutics, and an emphasis on addressing rare diseases. Key trends that will define this forecast period include the adoption of cutting-edge technologies, the expansion of biologicals and biopharmaceuticals, implementation of high-throughput screening, improved virtual screening procedures, and a heightened focus on regenerative medicine.

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What Are the Emerging Segments Within the Drug Discovery Services Market?
The drug discovery services market covered in this report is segmented -

1) By Type: Chemistry Services, Biology Services
2) By Process: Target Selection, Target Validation, Hit-To-Lead identification, Lead Optimization, Candidate Validation
3) By Drug Type: Biologics Drug , Small Molecule Drug
4) By End user: Pharmaceutical And Biotechnology Companies, Academic Institutes, Other End Users

Subsegments:
1) By Chemistry Services: Medicinal Chemistry, Compound Management, High-Throughput Screening, Lead Optimization
2) By Biology Services: In Vitro Studies, In Vivo Studies, Pharmacokinetics And Pharmacodynamics (PK Or PD), Biomarker Discovery

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What Long-Term Drivers Are Shaping Drug Discovery Services Market Trends?
The escalating emphasis on drug discovery trials is anticipated to boost the market for drug discovery services. The drug development life cycle plays a crucial role in guaranteeing the safe and effective delivery of drugs. As a result, the spotlight is increasingly on clinical trials as a vital element of drug development. Owing to the rising significance of drug development and innovation in the medical field, the worldwide demand for drug discovery trials is also expanding. For instance, in May 2023, ClinicalTrials.gov, a registry for clinical trials, reported a total of 452,604 clinical trials. This represents a rise from the 365,000 registered trials recorded in 2021. Thus, the heightened attention to drug discovery trials is predicted to fuel the expansion of the drug discovery services market.

Who Are the Top Competitors in Key Drug Discovery Services Market Segments?
Major companies operating in the drug discovery services market are 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, Syngene International Ltd., Bayer AG, Merck KGaA, Ubiquigent Ltd., Eurofins Scientific SE, AppTec Laboratory Services Inc., GVK Biosciences Private Limited, Aurigene Discovery Technologies Limited, Viva Biotech Holdings, Pharmaron Beijing Co. Ltd., Selcia Limited, Concept Life Sciences Group Limited, BioDuro LLC, ChemPartner Corporation, Aptuit LLC, Sygnature Discovery Limited, Peak Proteins Ltd., SRI International, BioAscent Discovery Limited, Sai Life Sciences Limited, Promega Corporation, MedChemExpress LLC, Aragen Bioscience Inc., WuXi STA, BioNTech SE, Moderna Inc., Gilead Sciences Inc., Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals Inc., Amgen Inc., Bristol-Myers Squibb Company

What Drug Discovery Services Market Trends Are Gaining Traction Across Different Segments?
Key players in the drug discovery services marketplace are leveraging cutting-edge tech advancements like Artificial Intelligence (AI) and Machine Learning (ML) to improve the precision and efficiency of the drug discovery process. The fields of AI and ML, both subsets of computer science, are directly interrelated. AI is focused on creating computer systems capable of executing tasks usually needing human intellect, whereas ML concentrates on the application of statistical models and algorithms which allow computers to generate decisions or predictions based on data. For example, Eurofins Discovery, a French company offering services across multiple sectors including pharmaceuticals, unveiled an innovative platform known as DiscoveryAI SAFIRE (Suite of ADMET Predictions for In Silico Refinement and Evaluation) in February 2024. This sophisticated platform makes use of proprietary datasets, AI and ML to improve the process of drug discovery. SAFIRE aims to accelerate the invention of new pharmaceuticals by predicting the ADMET (Absorption, Distribution, Metabolism, Excretion, and Toxicity) characteristics of molecules. The platform employs data from the extensive BioPrint database of Eurofins Discovery, which has been painstakingly collated over many years of research.

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Which Regions Are Becoming Hubs for Drug Discovery Services Market Innovation?
North America was the largest region in the drug discovery services market in 2024. The regions covered in the drug discovery services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Drug Discovery Services Market?
2. What is the CAGR expected in the Drug Discovery Services Market?
3. What Are the Key Innovations Transforming the Drug Discovery Services Industry?
4. Which Region Is Leading the Drug Discovery Services Market?

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