NEW YORK, May 31, 2023 (GLOBE NEWSWIRE) -- Data Bridge Market Research has unveiled a new report called "Drug Discovery Services Market" which provides an in-depth exploration of growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and the competitive landscape. For effectual business growth, companies must adopt the Drug Discovery Services market research report service, which has become quite vital in this rapidly changing marketplace. In this competitive age, it is very important to get informed about the major happenings with valuable market reports and industry insights so that nothing is missed. This particular industry report is a source of information, which gives current and approaching technical and financial details of the industry to 2030. A detailed market study and analysis of trends in consumer and supply chain dynamics cited in the top-notch Drug Discovery Services report helps businesses draw strategies for sales, marketing, and promotion.
The major aspects of the large-scale Drug Discovery Services report include complete and distinct analysis of the market drivers and restraints, key market players involved in this industry, detailed analysis of the market segmentation, and competitive analysis of the key players. Efficient and advanced tools and techniques are used to prepare this market research report that includes SWOT analysis and Porter's Five Forces Analysis. It gives top to bottom examination of the market for estimating income, return on investment (ROI) and developing business strategies. The market share of major competitors on global level is also studied in the universal Drug Discovery Services market analysis report where key areas such as Europe, North America, Asia Pacific and South America are covered in this market research report.
Data Bridge Market Research analyses that the drug discovery services market, which was USD 14.68 billion in 2022, is expected to reach USD 44.91 billion by 2030, at a CAGR of 15.00% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Drug discovery is the process of identifying a compound that can be used to treat and cure diseases. A drug discovery effort typically addresses a biological target that has been shown to play a role in disease development or begins with a molecule with interesting biological activities. Drug discovery has recently evolved significantly as a result of emerging technologies, allowing the process to become more refined, accurate, and time-consuming. Drugs were discovered by identifying the active ingredient in traditional remedies or by chance, as in the case of penicillin.
According to the American Cancer Society, approximately 1.8 million new cancer cases were diagnosed in 2020, with an estimated 606,520 cancer deaths occurring in the United States. Thus, the increasing burden of diseases and its global burden drive demand for drug discovery services. For better drug candidate identification, there has been an increase in the use of advanced technologies such as bioinformatics, high throughput, and combinatorial chemistry. With emerging technologies, drug discovery has evolved significantly, making the process more refined, accurate, and time-consuming.
The report includes seven parts, dealing with:
- Basic information
- The Asia Pacific Drug Discovery Services Market
- The North America Drug Discovery Services Market
- The Europe Drug Discovery Services Market
- MEA Drug Discovery Services Market
- Market entry and investment feasibility
- The report conclusion
All the research report is made by using two techniques that are Primary and secondary research. There are various dynamic features of the business, like client need and feedback from the customers. Before (company name) curate any report, it has studied in-depth from all dynamic aspects such as industrial structure, application, classification, and definition.
Recent developments
- On December 3, 2021, Toxikon Corporation, a contract research company, acquired by Labcorp. Toxikon's acquisition is expected to broaden the company's product portfolio.
- On January 25, 2022, Evotec and Boehringer Ingelheim formed a target and drug development collaboration focused on iPSC-based disease modelling for ophthalmologic illnesses.
The Drug Discovery Services Market is Dominated by Firms Such as
- General Electric (U.S.)
- Eurofins Scientific (U.S.)
- PPD Inc. (U.S.)
- Syngene International Limited (India)
- Wuxi AppTec (China)
- Frontage Labs (U.S.)
- Galapagos NV (Belgium)
- Aurigene Discovery Technologies (India)
- Genscript (U.S.)
- Domainex (U.K.)
- WIL Research Laboratories LLC (U.S.)
- Shanghai Medicilon, Inc. (China)
- Labcorp Drug Development (U.S.)
- Jubilant Biosys Ltd. (India)
- Evotec (Germany)
- Shanghai ChemPartner (China)
- Charles River Laboratories (U.S.)
- Merck & Co. Inc. (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
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Fundamental Aim of Drug Discovery Services Market Report
In the Drug Discovery Services market, every company has goals, but this report focus in on the most important ones, allowing you to gain insight into the competition, the future of the market, potential new products, and other useful information that can boost your sales significantly.
- Factors influencing the Drug Discovery Services Market Size and growth rate.
- Major alterations to the Drug Discovery Services Market in the near future.
- Notable Market rivals around the world.
- The Drug Discovery Services Market's Future Scope and Product Outlook
- Future-promising emerging markets.
- The Market Presents Difficult Challenges and Threats.
- Sales data and profiles of the world's leading Drug Discovery Services Players
Opportunities for Key Players:
- Increasing spending on R&D activities
The biopharmaceutical industry's increased R&D spending is driving demand for clinical trial and analytical test outsourcing. The global drug discovery services market is being propelled forward by increased research efforts on orphan pharmaceuticals and uncommon research diseases. The growing demand for biopharmaceutical treatments is propelling the biologics industry forward globally. Biopharmaceuticals alone account for approximately 20% of the pharmaceutical industry. The development of numerous novels and effective life-saving biologics treatments has increased demand. Biologics companies are encouraged to invest in developing new drugs for a wide range of common and uncommon diseases. Furthermore, patent expiration and rising demand for biologics in emerging markets propel the global drug discovery services market.
Key Market Segments Covered in Drug Discovery Services Industry Research
Type
- Medicinal Chemistry Services
- Biology Services
- Drug Metabolism and Pharmacokinetics
Process
- Target Validation
- Target Selection
- Hit-To-Lead Identification
- Candidate Validation
- Lead Optimization
Drug Type
- Biologics
- Small Molecules
Therapeutic Area
- Neurology
- Diabetes
- Oncology
- Respiratory Diseases
- Cardiovascular Diseases
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Key Growth Drivers:
- Rising demand for novel therapies for various therapeutic purposes
Drug discovery services market growth is expected to be driven by rising demand for novel medicine for chronic diseases and development in the global healthcare sector. Pharmaceutical and biopharma companies continue to outsource their research and development activities to contract research organisations (CROs), which provides R&D services and develop engagement models to maximise R&D productivity. The rising burden of chronic diseases is compelling governments and pharmaceutical companies to seek solutions and increase investment in clinical trials. As a result, the demand for drug discovery services will increase.
- Rising chronic disease burden
Chronic conditions such as diabetes, dementia, and cardiovascular disease have high socioeconomic costs and a high and rising patient illness burden. They cause seven out of every ten fatalities worldwide, accounting for more than 40 million deaths yearly. Chronic diseases, which are the leading causes of death and disability in the United States, account for the majority of healthcare costs. As a result, the global market for drug discovery services is expected to be driven by the prevalence of chronic diseases over the forecast period, resulting in an increase in R&D spending and research activities for developing novel drugs. There is a high demand for medications due to the increased prevalence of these chronic diseases which creates new economic opportunities for companies that provide drug discovery services.
Drug Discovery Services Market Regional Analysis/Insights:
The countries covered in the drug discovery services market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the drug discovery services market because of the availability of cutting-edge techniques, instruments, and facilities for drug discovery research in this region due to many qualified researchers and low-cost operations in emerging countries such as India and China.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 owing to the strong presence of well-established CROs, and rising R&D expenditure by pharmaceutical and biopharmaceutical companies.
Important Features that are under Offering Market Highlights of the Reports:
- Detailed Overview of this Market
- Changes in industry market dynamics
- Detailed market segmentation by type, application, etc.
- The historical, current, and projected market size in terms of quantity and value
- Recent industry trends and developments
- Competition situation of this Market
- Key companies and product strategies
- Potential niche segment/region showing promising growth.
Finally, this Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Drug Discovery Services Market: Regulations
- Market Overview
- Global Drug Discovery Services Market, By Type
- Global Drug Discovery Services Market, By Process
- Global Drug Discovery Services Market, By Drug Type
- Global Drug Discovery Services Market, By Therapeutic Area
- Global Drug Discovery Services Market, By Region
- Global Drug Discovery Services Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
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- In-Silico Drug Discovery Market, By Type (Software as a Service, Consultancy as a Service, Software), Type of Large Molecule (Antibodies, Proteins, Peptides, Nucleic Acids, Vectors), Workflow (Discovery, Target Identification, Reverse Docking, Bioinformatics, Protein Structure Prediction, Target Validation, Lead Discovery, Pharmacophore, Library Design, Preclinical Tests, Clinical Trials), Target Therapeutic Area (Human Immunodeficiency Virus (HIV), Infectious Diseases, Metabolic Disorders, Mental Disorders, Musculoskeletal Disorders, Neurological Disorders, Oncological Disorders, Respiratory Disorders, Skin Disorders, Urogenital Disorders, Autoimmune Disorders, Blood Disorders, Cardiovascular Disorders, Gastrointestinal and Digestive Disorders, Hormonal Disorders, Others), End User (Contract Research Organizations, Pharmaceutical Industry, Academic and Research Institutes, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) https://www.databridgemarketresearch.com/reports/global-in-silico-drug-discovery-market
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