The Global Drug Discovery Services Market is expected to grow at a compound annual growth rate of 13.30% in the forecast period of 2021 to 2028 and is expected to reach USD 28.78 billion by 2027. The high demand for outsourcing analytical testing and clinical trial services is a significant factor driving the market growth rate.
Likewise, the high growth in the biologics market and rapid rise in the funding and reimbursement will produce lucrative opportunities for the growth of the drug discovery services market.
According to Data Bridge Market Research, the market for drug discovery services is expected to gain growth because of the increase in R&D expenditure in the pharmaceutical and biopharmaceutical industry. Also the increase in unmet medical needs and rapid rise in the geriatric population are also expected to fuel the demand of the drug discovery services market over the forecast period of 2021 to 2028. Whereas, the high cost of drug discovery and development and stringent regulations governing drug discovery are expected to hinder the growth of the drug discovery services market in the aforementioned forecast period.
Now the question is which are the other regions that drug discovery services market is targeting? Data Bridge Market Research has estimated large growth in Asia-Pacific due to increase in the number of qualified researchers and low-cost operations in emerging countries such India and China.
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Drug discovery services market is segmented on the basis of countries into the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Key Market Competitors Covered in the Report
Above are the key players covered in the report, to know about more and exhaustive list of drug discovery services companies’ contact us https://www.databridgemarketresearch.com/toc/?dbmr=global-drug-discovery-services-market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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Global Drug Discovery Services Market – Industry Trends and Forecast to 2030