Drug Discovery Market Size Projected To Reach $221.71 Billion By 2034 With A Cagr Of 15.3%

The Drug Discovery 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].

What Is the Drug Discovery Market Size and Projected Growth Rate?
The size of the drug discovery market has exponentially increased in the recent past. The market, valued at $110.26 billion in 2024, is predicted to further scale up to $125.23 billion in 2025, with a compound annual growth rate (CAGR) of 13.6%. This significant growth during the historic phase can be accredited to progress in genomics and proteomics, increasing incidence of chronic diseases, and the rise of biopharmaceuticals.

The market size for drug discovery is forecasted to experience swift expansion in the upcoming years, escalating to $221.71 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 15.3%. The anticipated growth for the forecast period may be due to factors like the acceptance of precision medicine, attention on rare diseases, and the development of personalized therapies. Prominent trends during the forecast period are expected to be cooperative models of drug discovery, concentration on rare diseases and orphan drugs, incorporation of multi-omics data, quick acceptance of organoids and 3D cell culture models, and progress in virtual screening.

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What Are the Major Segments in the Drug Discovery Market?
The drug discovery market covered in this report is segmented -

1) By Drug Type: Small Molecule, Large Molecule
2) By Process: Target Selection, Target Validation, Hit-To-Lead Identification, Lead Optimization, Candidate Validation
3) By Technology: High Throughput Screening, Spectroscopy, Combinatorial Chemistry, Biochips, Pharmacogenomics And Pharmacogenetics, Bioinformatics, Metabolomics, Nanotechnology, Other Technologies
4) By Therapeutic Area: Oncology, Neurology, Infectious And Immune System Diseases, Digestive System Diseases, Cardiovascular Diseases, Diabetes, Respiratory Disease, Other Therapeutic Areas
5) By End User: Pharmaceutical Companies, CROs, Other End-Users

Subsegments:
1) By Small Molecule: Synthetic Small Molecules, Natural Small Molecules, Targeted Small Molecule Drugs
2) By Large Molecule: Monoclonal Antibodies, Proteins And Peptides, Nucleic Acid-Based Therapies

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What Are The Driving Drug Discovery Market Evolution?
The increased spending in the healthcare sector is presumed to boost the drug discovery market in the future. A substantial percentage of the global GDP is being invested in healthcare costs worldwide, encompassing expenses like hospital care, clinical and medical professional services, dental services, other health and personal care, home medical care, nursing facilities, retirement communities offering continuous care, prescription medications, and more. Being an integral component of health expenses, drug discovery is vital for disease treatment and life extension. The demand for new medications to address new diseases is on the rise. For example, in October 2024, the US-based federal agency, Centers for Medicare and Medicaid Services, reported that national health expenditure saw a growth of 4.1%, amounting to $4.5 trillion in 2022, or $13,493 per person, for 2023-32. The average national health expenditure growth (5.6%) is expected to exceed average GDP growth (4.3%), causing the percentage of GDP spent on healthcare to rise from 17.3 percent in 2022 to 19.7 percent in 2032. Consequently, the surge in healthcare spending is promoting the expansion of the drug discovery market.

Which Firms Dominate The Drug Discovery Market Segments?
Major companies operating in the drug discovery market include Pfizer Inc., Merck & Co. Inc., Novartis International AG, Thermo Fisher Scientific Inc., WuXi AppTec Group, GlaxoSmithKline plc, Eli Lilly and Company, Laboratory Corporation of America Holdings, Evotec SE, Eurofins Scientific SE, Agilent Technologies Inc., Sanofi S.A., Charles River Laboratories International Inc., Pharmaron Ltd., Viva Biotech Ltd., Albany Molecular Research Inc., Schrödinger Inc., BioDuro Ltd., Aptuit LLC, Selvita S.A., Sygnature Discovery Limited, Jubilant Biosys Limited, Gero Limited, Domainex Ltd., Verge Genomics lnc., Aqemia SAS, BenevolentAI Limited, EPIVAX INC., ProteinQure lnc., Synlogic Inc., ChemPartner Co. Ltd., WuXi Biologics lnc., Abzena plc, Lonza Group Ltd., Catalent lnc., Recursion Pharmaceuticals Inc.

What Trends Are Driving Growth in The Drug Discovery Market?
The progress in technology is a notable trend in the field of drug discovery. Firms in the sector are introducing various innovative technologies like AI, imaging technology, among others, to decrease the duration of the drug discovery process. The application of imaging technology permits the non-invasive visualization, characterization, and quantification of biological activities taking place within organisms due to drugs. These techniques utilize either the advantages of probes or the tissue itself and are vital for understanding diseases and developing new treatments. For instance, Google Cloud launched two new AI-driven tools in May 2023 - the Target and Lead Identification Suite and the Multiomics Suite, to expedite drug discovery and precision medicine. Created to assist biotech and pharmaceutical companies in furthering drug discovery and precision medicine, the Target and Lead Identification Suite aids in the identification of the function of amino acids and proteins. In contrast, the Multiomics Suite speeds up the discovery and interpretation of genomic data, helping in the creation of precision treatments.

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Which Is The Largest Region In The Drug Discovery Market?
North America was the largest region in the drug discovery market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the drug discovery 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 Market?
2. What is the CAGR expected in the Drug Discovery Market?
3. What Are the Key Innovations Transforming the Drug Discovery Industry?
4. Which Region Is Leading the Drug Discovery Market?

Why This Report Matters:

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