Pune, Feb. 03, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research, a leading Healthcare research, and consultancy firm have a business intelligence report on the emerging “Drug Discovery Services Market”. North American region held the largest market share in the Drug Discovery Services Market during the forecast period. The market is expected to grow from USD 16.8 Bn in 2021 to USD 53.58 Bn in 2029, at a CAGR of 15.6 percent for the forecast period from 2022 to 2029.
Drug Discovery Services Market Scope and Research Methodology
The report is a detailed analysis of the Drugs Discovery Services Market covering all the major aspects such as the key drivers of the market, challenges to growth, restraint to the growth of the market and growth opportunities in untapped regions. For a better understanding of Drug Discovery Services Market penetration a thorough regional analysis of the market at the local, regional and global levels is conducted. To assist investors and significant firms in making investments and strategic business decisions, the report covers the marketing tactics and business strategies used by important players.
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Major companies are listed by region, along with their revenue, financial status, portfolio, developments, mergers & acquisitions, and strategic alliances, for competitive analysis of the Drug Discovery Services Market. Growth potential and business forecast of Drug Discovery Services Market for new market entrants is provided in the report. The analysis provides an overview of the market that stakeholders, investors, and new entrants may use to develop investment strategies and marketing strategies.
Drug Discovery Services Market is segmented based on process, type, therapeutic area, and End-user to understand the variables and impact on the market growth. The total Drug Discovery Services Market size is estimated using the bottom-up approach. The primary and secondary methods were used for collecting the data required for the analysis of the Drug Discovery Services Market. SWOT analysis was conducted to provide the strengths and weaknesses of the market.
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Drug Discovery Services Market Overview
Drug Discovery the process of identifying new medicines and their potential impact. It includes several scientific fields, such as biology, chemistry, and pharmacology. There are around 5,100 pharm companies that have an active R&D department for Drug Discovery. Artificial Intelligence in Drug Discovery and growth in biologics drive the market growth. To minimize the total cost of drug discovery pharma firms are seeking integrated outsourcing services to assist drug research and development.
Drug Discovery Services Market Dynamics
Artificial Intelligence in Drug Discovery, rising chronic diseases, and growth in drugs and biologics are expected to influence the Drug Discovery Services Market growth. The prevalence of diseases including cancer, diabetes, and cardiovascular disease has been increasing. Rise in investments for Research and Development coupled with demand for clinical trials in the biopharmaceutical industry influence market growth. Demand for Novel Therapies in a variety of Therapeutic areas is expected to drive the Drug Discovery Services Market growth.
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High cost of medicines and regulations governing drug discovery & clinical research on animals is restraining the Drug Discovery Services Market growth. Lack of skilled professionals is a challenging factor for the growth of the market.
Drug Discovery Services Market Regional Insights
The North American region held the largest share in the Drug Discovery Services Market in 2021. The presence of well-established CROs, increasing research and development expenditure by pharma companies, growth in biologics markets and innovative techniques influence the regional market growth. Asia Pacific is expected to hold the largest Drug Discovery Services Market revenue during the forecast period. Availability of skilled labor, low cost, and high-quality data are expected to drive regional market growth.
| Market Size in 2021 | USD 16.8 Bn |
| Market Size in 2029 | USD 53.58 Bn |
| CAGR | 15.6 % (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 270 |
| No. of Tables | 120 |
| No. of Charts and Figures | 115 |
| Segment Covered | By Process, Type, Therapeutic Area, and End User |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Drug Discovery Services Market Segmentation
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)
Drug Discovery Services Market Leading companies include:
- Thermo Fisher Scientific (US)
- Merck (US)
- GE Healthcare (US)
- Pharmaceutical Product Development, LLC. (Ppd) (US)
- Covance (US)
- Genscript Biotech Corporation (US)
- Laboratory Corporation of America Holdings (US)
- SRI International (US)
- BioDuro (US)
- Cullgen (US)
- Nanosyn (US)
- Radyus Research (US)
- Visikol Inc (US)
- Aurobindo Pharma (India)
- Dr. Reddy's Laboratories (India)
- Jubilant Biosys Ltd. (India)
- Lupin Pharmaceuticals (India)
- Sun Pharmaceutical Industries Ltd. (India)
- Serum Institute of India Pvt. Ltd. (India)
- Syngene International Limited (India)
- Piramal Enterprises Ltd (India)
- Eurofins Advinus Limited (India)
- Dalton Pharma Services (Canada)
- Domainex (UK)
- Selcia Limited (UK)
- Selvita S.A. (Poland)
- Wuxi Apptec (China)
- Viva Biotech (China)
- SYNthesis Med Chem (Australia)
- Lonza Group AG (Switzerland)
- Evotec A.G. (Germany)
Key questions answered in the Drug Discovery Services Market are:
- What is Drug Discovery Service?
- What is the growth rate for the Drug Discovery Services Market?
- Which factors are expected to drive the Drug Discovery Services Market growth?
- What are the segments covered in the Drug Discovery Services Market?
- What is the expected revenue of the Drug Discovery Services Market in 2029?
- What is the demand pattern for the Drug Discovery Services Market?
- Who held the largest market share in Drug Discovery Services Market?
- What factors are affecting the growth of the market?
- Which is the fastest growing segment in the Drug Discovery Services Market?
- What are the recent development in the Drug Discovery Services Market?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Process, Type, Therapeutic Area, and End User
- Competitive Landscape – Top Key companies and Other Prominent companies
Maximize Market Research is leading Healthcare research firm, has also published the following reports:
Breast Cancer Drug Market: The total market size was valued at USD 32.5 Bn in 2021 and the total revenue is expected to grow at a CAGR of 14.8 percent from 2022 to 2029, reaching nearly USD 98.04 Bn. High prevalence of Breast Cancer amongst the population across the world drives the market growth.
Drug Discovery Outsourcing Market: The total market size was valued at USD 3.2 Bn in 2021 and the total revenue is expected to grow at a CAGR of 7.4 percent from 2022 to 2029, reaching nearly USD 5.89 Bn. Rising prevalence of childhood vitiligo and the high significance of aesthetic appeals and consciousness drives the market growth.
Drug Discovery Informatics Market: The total market size was valued at USD 2.46 Bn in 2021 and the total revenue is expected to grow at a CAGR of 9.2 percent from 2022 to 2029, reaching nearly USD 4.97 Bn. Growth in data analytics and technological advancement is expected to drive the market growth.
Drug Delivery Devices Market: The total market size was valued at USD 226 Bn in 2021 and the total revenue is expected to grow by 7.4 percent from 2022 to 2029, reaching nearly USD 400 Bn. Increasing demand and research and development drives the market growth.
Private Nursing Services Market: The total market size was valued at USD 547.80 Bn in 2021 and the total revenue is expected to grow at a CAGR of 9.2 percent from 2022 to 2029, reaching nearly USD 1107.65 Bn. Growing geriatric population across the world drives the market growth.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
