Global Drug Discovery Services Market is Expected to Reach USD 28.78 Billion by 2027

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.

Drug Discovery Services Market Scenario

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.

For more analysis on the drug discovery services request for a briefing with our analysts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-drug-discovery-services-market

Drug Discovery Services Market Scope

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.

  • All country based analysis of drug discovery services market is further analyzed based on maximum granularity into further segmentation. Based on type, the drug discovery services market is segmented into medicinal chemistry services, biology services and drug metabolism and pharmacokinetics. The process segment of the drug discovery services market is segmented into target validation, target selection, hit-to-lead identification, candidate validation and lead optimization. Based on drug type, the drug discovery services market is divided into biologics and small molecules. On the basis of therapeutic area, the drug discovery services market is segmented into neurology, diabetes, oncology, respiratory diseases, cardiovascular diseases and others.
  • Drug discovery is the procedure by which new candidate medications are discovered. Drug discovery services play a significant role in enabling the pharmaceutical industry to transport new and better cures across multiple therapeutic areas 

To know more about the study, https://www.databridgemarketresearch.com/reports/global-drug-discovery-services-market

Key Pointers Covered in the Drug Discovery Services Market Industry Trends and Forecast to 2027

  • Market Size
  • Market New Sales Volumes
  • Market Replacement Sales Volumes
  • Market Installed Base
  • Market By Brands
  • Market Procedure Volumes
  • Market Product Price Analysis
  • Market Healthcare Outcomes
  • Market Cost of Care Analysis
  • Market Regulatory Framework and Changes
  • Prices and Reimbursement Analysis
  • Market Shares in Different Regions
  • Recent Developments for Market Competitors
  • Market Upcoming Applications
  • Market Innovators Study

Key Market Competitors Covered in the Report

  • General Electric Company
  • Albany Molecular Research, Inc. (AMRI)
  • Eurofins Scientific
  • PPD Inc
  • Syngene
  • Wuxi Apptec
  • Frontage Labs
  • Galapagos NV
  • Aurigene Discovery Technologies
  • Genscript Biotech Corporation
  • Domainex
  • WIL Research Laboratories LLC
  • Shanghai Medicilon, Inc
  • Covance
  • Jubilant Biosys
  • Evotec
  • Chempartner Co., Ltd
  • Charles River Laboratories
  • Merck & Co. Inc
  • Thermo Fisher Scientific

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

Research Methodology of 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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