Drug Discovery Services Market - Trends Forecast Till 2028

Drug Discovery Services Market by Process (Target Selection, Validation, Lead Optimization), Type (Medicinal Chemistry, DMPK), Drug Type (Biologics, Small Molecules), Therapeutic (Oncology, Neurology), Company (Tier 1, 2, 3) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: December, 2021

Base Year Estimate: 2020

Report ID: D-PH-DDSM-614

Format:  

Number of Pages: 248

Domain: Pharmaceutical

Drug Discovery Services Market – Trends Forecast Till 2028

The global drug discovery market is expected to display a positive market trend over the forecast period of 2021-2028, exhibiting a CAGR of 6.50%.

Drug discovery is the process of designing a new drug. The most common methods employed for drug discovery are molecular manipulation, random screening, drug metabolites, molecular designing, and serendipity. Drug discovery services are specifically designed to minimize the costs and timelines of drug discovery. In pharmacology, biotechnology, and medicine, the method of drug discovery is used to design and discover new medications. This process comprises the identification of aspirants, production, depiction, selection, and assays for therapeutic usefulness.

Rising prevalence of chronic diseases, acute diseases, rise in the pharmaceutical and biotechnology industry among the others are some of the factors that have supported long-term expansion for Drug Discovery Services Market.

The COVID-19 outbreak is an unprecedented global public health challenge and is expected to have a significant impact on the ISH market for diagnostics and research applications. In order to expedite the research and development process, leading pharmaceutical and biotechnology companies are entering into a collaboration and partnership program with drug discovery services firms to develop vaccines and therapeutics to combat coronavirus.

Drug Discovery Services Market Analysis

North America accounted for the largest share of the drug discovery services market. The large share of this market segment can be attributed majorly to the presence of well-established CROs, rising R&D expenditure by pharmaceutical & biopharmaceutical companies, and the availability of latest techniques, instruments, and facilities for drug discovery research.

Drug Discovery Services Market is segmented into Process, Type, Drug Type, Therapeutic Area and Region.

On the basis of Process

  • Target Selection
  • Target Validation
  • Hit-To-Lead Identification
  • Lead Optimization
  • Candidate Validation

On the basis of Type

  • Medicinal Chemistry
  • Biology Services
  • Drug Metabolism and Pharmacokinetics (DMPK)

On the basis of Drug Type

  • Small Molecules
  • BiologicsInfectious Disease Diagnostics

On the basis of Therapeutic Area

  • Oncology
  • Neurology
  • Infectious and Immune System Diseases
  • Digestive System Diseases
  • Cardiovascular Diseases

On the basis of Company Type

  • Tier 1 Pharmaceutical Companies
  • Tier 2 Pharmaceutical Companies
  • Tier 3 Pharmaceutical Companies

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Drug Discovery Services Market Primary Respondent

 

Key Players

  • Covance Inc.
  • Evotec
  • Merck KGaA
  • Thermo Fisher Scientific Inc
  • GenScript
  • Domainex
  • WuXi AppTec
  • Selcia Limited
  • Charles River
  • SRI International)

Recent Developments

  • In 2020, Covance entered into a partnership with Medable to expedite the adoption of decentralized trial technology
  • In 2020, Eurofins entered into partnership with Pharma Resources (China). This partnership enabled both companies to build a joint drug discovery platform to accelerate small molecule drug development.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Drug Discovery Services Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Growth Rate

CAGR of 6.50% during the forecasting period, 2021-2028

Historical Data

2018-2019

Forecast Years

2021-2028

Base Year

2020

Units Considered

Revenue in USD billion and CAGR from 2021 to 2028

Report Segmentation

Process, Type, Drug Type, Therapeutic Area and Region.

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Covance Inc., Evotec, Merck KGaA, Thermo Fisher Scientific Inc, GenScript, Domainex, WuXi AppTec, Selcia Limited, Charles River, SRI International.

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