The global drug discovery service market is projected to reach USD 36.88 billion by 2025 from USD 21.24 billion in2017, at a CAGR of 9.7% during the forecast period.
The global drug discovery service market is projected to reach USD 36.88 billion by 2025 from USD 21.24 billion in2017, at a CAGR of 9.7% during the forecast period. Drug discovery services market is expected to grow at a significant rate during the forecast period, owing to government support for research and development activities in pharmaceutical companies, out-licensing deals among top companies of this market, and increasing adoption of outsourcing strategies by biopharmaceutical companies. However, the high cost of drug discovery and stringent regulations are expected to restrain the growth of this market during the forecast period.
In addition, government initiatives to promote drug discovery and development activities are further expected to drive the market growth over the forecast period. For instance, in October 2015, National Institutes of Health (NIH) launched a new program called Discovering New Therapeutic Uses for Existing Molecules (DuTEMM), which is aimed at supporting preclinical studies for identifying new therapeutic uses for existing FDA-approved drugs, biologics, and other molecules. Such initiatives are anticipated to create a positive impact on the growth of drug discovery services market in the coming years.
Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/253
The drug discovery services market is highly fragmented with the presence of a large number of small and big players. Some of the major companies operating in this market are Charles River Laboratories International, Inc.; Albany Molecular Research, Inc.; Jubilant Biosys; Evotec AG; Envigo; and WuXi AppTec. These companies are focused on adopting various growth strategies such as acquisitions, mergers, and new product launches to expand their market share. For instance, in February 2017, Jubilant Biosys acquired the U.S.-based small molecule drug discovery company Discuva Limited from AstraZeneca plc for a total consideration of up to USD 175 million. The acquisition is expected to help Jubilant Biosys to expand its small molecule drug discovery capabilities and increase its customer base.
Key Highlights From The Report
- Key participants include Albany Molecular Research, Inc., Thermo Fisher Scientific, Evotec, Covance, GenScript, Pharmaceutical Product Development, LLC, SRI International, WuXiAppTec, Charles River Laboratories International, Selcia Limited, Viva Biotech, Domainex, Merck KGaA, Others.
- In February 2020, Eurofins Discovery and PharmaResources partnered to provide integrated services for target validation, hit-to-lead optimization, and lead development for small molecule drug discovery programs. The companies will combine their expertise in medicinal chemistry, ADMET (absorption, distribution, metabolism, elimination), pharmacokinetics (PK), and structure activity relationships (SAR).
- The target identification & validation segment is anticipated to grow at the highest CAGR during the forecast period. This growth can be attributed to increase in demand for target identification services from pharmaceutical and biotechnology companies, as well as government and academic research institutes.
- The high-throughput screening (HTS) segment is expected to hold the largest market share in 2018. The large share of this segment can be attributed to factors such as its ability to screen a large number of compounds in a relatively short time and growing demand for HTS services from pharmaceutical and biotechnology companies.
- The CRO segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to the increase in demand for CRO services from biopharmaceutical and pharmaceutical companies, owing to the benefits offered by CROs, such as flexibility in workforce and cost-effectiveness.
- North America is expected to account for the largest share of the global drug discovery services market in 2018. The large share of this regional segment can be attributed to the presence of major players, increasing number of conferences and seminars related to drug discovery, and government support for R&D activities. In addition, the region has well-established healthcare infrastructure and developed economies, such as the US and Canada, which are expected to support the growth of this market in North America during the forecast period.
- The target identification process is the first stage of drug discovery, and hence, this segment is expected to grow at the highest CAGR during the forecast period due to the high demand for target identification services from pharmaceutical and biopharmaceutical companies.
- The small molecules segment is expected to hold the largest share of the global drug discovery services market during the forecast period due to the advantages offered by small molecule drugs, such as high specificity and low immunogenicity. Also, small molecule drugs are easier and cheaper to develop, which is expected to fuel the growth of this segment.
- The Asia Pacific region is expected to grow at the highest CAGR during the forecast period. The growth of this regional segment can be attributed to government initiatives to develop healthcare infrastructure and increase access to quality healthcare, growing pharmaceutical and biotechnology industries in this region, and increasing R&D expenditure.
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/drug-discovery-services-market
Drug Discovery Services Market Segmentation
Process
- Target Selection
- Target Validation
- Lead Optimization
- Candidate Validation
- Others
Type
- Medicinal Chemistry
- Biology Services
- Pharmacokinetics and Drug Metabolism
Drug Type
- Biologics
- Small Molecules
Therapeutic Area
- Neurology
- Diabetes
- Oncology
- Cardiovascular Diseases
- Respiratory Illnesses
- Others
End-User Industry
- Hospital & Clinics
- Pharmaceutical Companies
- Biotech Companies
- Research Institutes
- Others
Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/253
Explore More Reports Emergen Research:
Clinical Perinatal Software Market
Industrial Automation Software Market
Space propulsion system market
Supply Chain Control Tower Market
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Emergen Research Media Citations: https://www.emergenresearch.com/media-citations
Visit for More Insights: https://www.emergenresearch.com/insights
Explore Our Custom Intelligence services | Growth Consulting Services