Dublin, Oct. 29, 2024 (GLOBE NEWSWIRE) -- The "Drug Discovery Technologies Market Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global market for drug discovery technologies is expected to grow from $111.9 billion in 2024 and is projected to reach $197 billion by the end of 2029, at a compound annual growth rate (CAGR) of 12% during the forecast period of 2024 to 2029.
- The bioanalytical instruments market for drug discovery technologies is expected to grow from $30 billion in 2024 and is projected to reach $50.3 billion by the end of 2029, at a CAGR of 10.9% during the forecast period of 2024 to 2029.
- The high-throughput screening market for drug discovery technologies is expected to grow from $25 billion in 2024 and is projected to reach $43.9 billion by the end of 2029, at a CAGR of 11.9% during the forecast period of 2024 to 2029.
This report provides detailed information on the drug discovery technologies market. This report analyzes the market trends of drug discovery technologies with data from 2023, estimates from 2024, projections of compound annual growth rates (CAGRs) through 2029 (forecast period 2024-2029), and regional markets of drug discovery technologies. This report highlights drug discovery technologies' current and future market potential and gives a detailed analysis of the competitive environment. The report covers regulatory scenarios, drivers, restraints, and opportunities. This report also covers market projections for 2029 and the market share for key market players.
Drug development and drug discovery are crucial aspects of the pharmaceutical and biotechnology sectors, driven by applying advanced technologies such as proteomics, bioanalytical, computational, and HTS. These technologies enable a mechanistic approach to lead identification, drug delivery, validation, and targeting, leading to market expansion. As businesses focus on meeting customer demands, R&D spending, growing competition, patent expirations, and new technologies are driving the market, resulting in consistent income for forward-thinking pharmaceutical and biopharmaceutical firms.
Drug development technologies, including nanotechnology and cellular imaging, focus on early-stage screening methods to identify new leads and targets for drug development. The multibillion-dollar drug discovery technology market includes pharmaceutical and biomedical research, aiming to create high-quality yet affordable medications. This includes genetic, cellular, proteomic, and systemic studies of the human body. Technology has advanced drug development, with automation, nanofluidic, imaging, software and test technologies enabling faster data acquisition and better drug candidate creation.
Technologies are being utilized in medication development to identify key lead chemicals for different cancer types. Research organizations and biopharmaceutical businesses are exploring molecular and biochemical issues to develop mechanistic techniques. Technologies like next-generation sequencing (NGS), proteomics, genomics, and HTS are being used for cellular investigation, focusing on developing mechanistic techniques for drug development.
The drug discovery industry is experiencing continued growth due to progress in biochemical, translational, and molecular studies in biomedical research. These technologies are commercially employed in the development of new and efficient drug candidates. The booming healthcare sector and increased government funding have also aided growth in this market. The delineation of mechanistic details and the underlying mechanisms of drug-target interaction have paved the way for more accurate and effective therapies.
Increasing numbers of chronic diseases are boosting the drug discovery technologies' market growth. Chronic disease affects hundreds of millions of patients globally. According to the American Hospital Association, approximately 45% of Americans, or 133 million people, suffer from one or more chronic healthcare conditions. In Europe, nearly 60 million people have more than one chronic disease. Chronic disease prevalence is expected to rise rapidly in the forecast period (2024-2029), which is expected to create a significant burden on global healthcare.
The market scope in this report is segmented into technologies and applications. Based on technologies, this report covers high-throughput screening (HTS), bioanalytical instruments, cell-based assays and reagents, genomics, bioinformatics, proteomics, and others, such as combinatorial chemistry, metabolomics, nanotechnology, and system biology. These technologies are further classified into subcategories for this report. The market is segmented based on application to oncology, cardiovascular diseases, neurodegenerative diseases, immunological diseases, and others.
The market has been segmented into North America, Europe, Asia-Pacific, and other world regions. The regional segment covers a detailed analysis of major countries such as the U.S., Canada, Germany, the U.K., Italy, Spain, France, Japan, China, South Korea, Australia, and India. For market estimates, data is provided for 2023, with forecasts for 2024 and projections for 2029.
The report includes:
- 104 data tables and 34 additional tables
- An analysis of the current and future global markets for drug discovery technologies
- Analyses of global market trends, with market revenue data (sales figures) for 2021-2023, estimates for 2024, and projected CAGRs through 2029
- Estimates of the market size and revenue forecasts for the global market for drug discovery technologies, with market share analysis by therapeutics, application, end user and region
- Discussion of bioinformatics as a platform for drug discovery
- A comparison between proteomics and genomics drug discovery technology
- Comparative assessment of pharmacokinetics and pharmacodynamics, and classification of the techniques used in drug discovery
- Discussions of the market dynamics, opportunities and challenges, as well as emerging technologies
- Overview of the sustainability trends and ESG developments in the industry, with emphasis on the ESG practices of leading companies, their ESG rankings, and consumer attitudes
- Competitive intelligence, including companies' market shares, recent M&A activity and venture funding
Profiles of the Leading Companies in the Drug Discovery Technologies Market
- Agilent Technologies Inc.
- Bio-Rad Laboratories Inc.
- Bruker
- Charles River Laboratories
- Danaher Corp.
- Illumina Inc.
- Promega Corp.
- Qiagen
- Revvity
- Thermo Fisher Scientific Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 192 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $111.9 Billion |
| Forecasted Market Value (USD) by 2029 | $197 Billion |
| Compound Annual Growth Rate | 12.0% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Executive Summary
- Market Outlook
- Scope of the Report
- Market Summary
Chapter 2 Market Overview
- Overview
- Porter's Five Forces Analysis
- Bargaining Power of Buyers
- Bargaining Power of Suppliers
- Potential for New Entrants
- Threat of Substitutes
- Competitiveness in the Industry
Chapter 3 Market Dynamics
Market Drivers
- High-Content Screening (HCS) Techniques in Drug Discovery
- Technological Advances
- Demand for Personalized Medicine
- Rising Prevalence of Chronic and Immunological Diseases
- Growing Elderly Population
- Availability of Research Funds
Market Restraints
- Cost of the Drug Discovery Process and Instruments
- Stringent Regulations
- Better Understanding of Molecular Mechanisms
Market Opportunities
- Potential for AI in Drug Discovery
Chapter 4 Emerging Technologies
- AI
Chapter 5 Market Segmentation Analysis
Global Market for Drug Discovery Technologies, by Technology
- Global Market Forecast
- High-Throughput Screening (HTS)
- Bioanalytical Instruments
- Genomics
- Proteomics
- Cell-based Assays and Reagents
- Bioinformatics
- Other Technologies
Market for Drug Discovery Technologies, by Disease Application
- Global Market Size and Forecast
- Oncology
- Cardiology
- Neurodegenerative Diseases
- Immunological Diseases
- Other Diseases
Global Market for Drug Discovery Technologies, by End User
- Global Market Size and Forecast
- Biopharmaceutical Companies
- Research and Academia
- Contract Research Organizations (CROs)
- Geographic Breakdown
Global Market for Drug Discovery Technologies, by Region
Chapter 6 Competitive Intelligence
- Competitive Landscape
- Analysis of Companies' Market Shares
- SWOT Analysis
- Strengths
- Challenges
- Opportunities
- Threats
Chapter 7 Sustainability in the Drug Delivery Technologies Market: An ESG Perspective
- Introduction to ESG
- Sustainability in the Drug Discovery Technologies Industry
- ESG Perspective
- Environmental Impact
- Social Impact
- Governance Impact
Chapter 8 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/twcce0
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