United States, Rockville, MD, May 10, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR's analysis, the worldwide drug discovery services market will develop at a CAGR of 10.1% between 2022 and 2032. The worldwide drug discovery services market is expected to generate US$ 50 Billion in sales by the end of 2032. The rising frequency of chronic diseases and the emergence of new diseases are boosting the demand for drug discovery services. In addition, new technologies that enable drug development approaches and strategies are growing at a rapid pace. The following are forecasts for the worldwide drug discovery services industry in the near future.
Drug discovery services have changed dramatically as a result of advances in current molecular biology tools and increased knowledge of the human genome. The method to drug development is becoming increasingly hypothesis-driven and target-based. Drug discovery is aided by pharmaceutical corporations and regulatory organizations.
Major pharmaceutical businesses are also concentrating on building a staff of brilliant scientists who work in a variety of therapeutic sectors and technologies. The growing number of cancer patients has resulted in a strong need for cancer medicines. As a result, oncology is expected to develop significantly in the next years.
Browse in-depth TOC on "Integrated Drug Discovery Services Demand"
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The effect of enhanced drug discovery methods and methodologies has resulted in a rise in the number of approvals for first-in-class medications in recent years. Drug discovery service providers are also focused on human genome sequencing in order to pave the way for genomics-based drug development methodologies.
More knowledge on targets, disease characteristics, and molecules is driving current innovation in drug discovery strategies. Despite the fact that small-molecule pharmaceuticals dominate the global pharmaceutical industry, the share of biologics, biosimilars, and large-molecule medications is increasing, owing to the introduction of new biologic-based treatments and rising earnings from current biologics.
Key Takeaways
- By type, medicinal chemistry to experience high uptake, expected to yield US$ 6 Billion
- Small molecules drug discovery to acquire precedence, yielding US$ 10.8 Billion in revenue
- By therapeutics, drug discovery services for oncology to remain prevalent, accumulating US$ 6.9 Billion
- U.S to emerge as a highly opportunistic market, flourishing at a 9.8% value CAGR
- China to be a significant market, expected to garner a market value of US$ 15 Billion in 2032
- Global drug discovery services market to expand 2.6x from 2022 to 2032
“A growing number of contract research firms in emerging nations that provide drug discovery services is a crucial development that is boosting industry possibilities”, says a Fact.MR Analyst
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Competitive Landscape
The global market for Drug Discovery Services is extremely fragmented, with several large firms. Recent developments are as follows:
- Eurofins Discovery and PharmaResouces announced cooperation in February 2020 to construct a combined drug discovery platform to accelerate the development of small-molecule pharmaceuticals.
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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global drug discovery services market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of process (target selection, target validation, hit-to-lead identification, lead optimization and candidate validation), type (medicinal chemistry, biology services, drug metabolism and pharmacokinetics), drug type (small molecules and biologics) and therapeutic area (oncology, neurology, cardiovascular diseases, respiratory diseases, diabetes and other therapeutic areas) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Key Segments Covered in the Drug Discovery Services Industry Report
- Drug Discovery Services by Process :
- Target Selection
- Target Validation
- Hit-To-Lead Identification
- Lead Optimization
- Candidate Validation
- Drug Discovery Services by Type :
- Medicinal Chemistry
- Biology Services
- Drug Metabolism and Pharmacokinetics
- Drug Discovery Services by Drug Type :
- Small Molecules
- Biologics
- Drug Discovery Services by Therapeutic Area :
- Oncology
- Neurology
- Cardiovascular Diseases
- Respiratory Diseases
- Diabetes and Other Therapeutic Areas
- Drug Discovery Services by Region :
- North America Drug Discovery Services Market
- Latin America Drug Discovery Services Market
- Europe Drug Discovery Services Market
- Asia Pacific Drug Discovery Services Market
- Middle East & Africa Drug Discovery Services Market
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