Overview

Drug Discovery Services Market Introduction

Drug Discovery Services Market is estimated to value over USD 20 billion by 2027 end and register a CAGR of over 11.4% during the forecast period 2020 to 2027.

The process of developing a new drug is known as drug discovery. The most widely implemented methods used for discovering drugs are molecular designing, serendipity, drug metabolites, molecular manipulation and random screening. The services associated with drug discovery are particularly designed in order to minimize the timelines and costs of drug discovery.

The growing insistence for various cancer treatments, advancements in technology and rising expenditure of healthcare are the crucial factors steering the drug discovery services market growth. As per the WHO, cancer is one of the primary cause of death across the world. The disease has resulted in over 8 million deaths in 2016. The commonly diagnosed cancers are colorectal cancer, stomach cancer, breast cancer, lung cancer and liver cancer. Infections that causes cancer are the ones responsible for over 23% cancer cases in the middle-income and low-income nations.

Other factors, for instance, the increasing awareness regarding persistent diseases, growing patient population, incomplete medical requirements, patent of blockbuster drugs getting expired, an inflating framework of the regulations, rising government assistance, and rising funding and reimbursement are continuously contributing to the growth of the drug discovery services market.

However, there are some restraints associated with the market. Huge investments with low or no profits margins, stringent regulations by the FDA, and inferior healthcare system in middle and low-income nations may impede the drug discovery services market growth to a significant extent.

North America dominates the global market due to the rising presence of persistent diseases and hefty expenditure associated with healthcare. As per the data provided by the centre for disease control and prevention (CDC), over 90 million adults have at least one cardiovascular disease. Furthermore, it is reported that over 16 % of adults in the U.S smoked cigarettes in 2016, which held for more than 490,000 deaths each year. Over 86% of the healthcare cost in the United States i.e. over USD 2.5 trillion is spent for people with mental and chronic health conditions.

Key market players involved in the global drug discovery services industry are Thermo Fisher Scientific, Merck, GE Healthcare, Albany Molecular Research, Inc. (AMRI), Charles River Laboratories International, Evotec, Pharmaceutical Product Development, LLC. (Ppd), Jubilant Biosys, Covance, Genscript Biotech Corporation, Aurigene Discovery Technologies, Wuxi Apptec, Syngene

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 Drug Type

Small Molecules
Biologics

By Therapeutic Area

Oncology
Neurology
Cardiovascular Diseases
Respiratory Diseases
Diabetes
Other Therapeutics Areas

By Region

North America
Europe
Asia Pacific
Rest of the world

FutureWise Key Takeaways:

Growth prospects
SWOT analysis
Key trends
Key data-points affecting market growth

Objectives of the Study:

To provide with an exhaustive analysis on the drug discovery services market by process, by type, by drug type, by therapeutic area and by region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific and the rest of the world
To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
Profiling of companies to evaluate their market shares, strategies, financials and core competencies

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