Global Drug Discovery Services Market, By Type (Medicinal Chemistry Services, Biology Services, Drug Metabolism and Pharmacokinetics), Process (Target Validation, Target Selection, Hit-To-Lead Identification, Candidate Validation, Lead Optimization), Drug Type (Biologics, Small Molecules), Therapeutic Area (Neurology, Diabetes, Oncology, Respiratory Diseases, Cardiovascular Diseases, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2027
Drug discovery services market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses the market to account to USD 28.78 billion by 2027 and will grow at a CAGR of 13.30% in the above-mentioned forecast period.
The growth of the drug discovery services market can principally be attributed to the nearness of an increasing demand for outsourcing analytical testing and clinical trial services over the forecast period of 2020 to 2027. Also the technological advancements and upsurge in the adoption of the new techniques is spurring the overall drug discovery services market growth. Moreover, factors such as the rising R&D expenditure in the pharmaceutical and biopharmaceutical industry, rising initiatives for research on rare diseases and orphan drugs, focus rapidly growing focus on drug discovery, proliferating pharmaceutical industry, rise in unmet medical needs, rapid increase in the geriatric population, increasing R&D expenditure, increased number of patent expiries along with the enhanced regulatory framework towards drug discovery and high demand for the generic drugs are some of the key aspects driving the market of drug discovery services globally. Whereas, the high cost of drug discovery and development and strict regulations governing drug discovery and animal usage will obstruct the growth of the drug discovery services market. In addition the increasing adoption of artificial intelligence-based tools for drug discovery which is likely to fuel demand and enable the growth of the drug discovery services market in the above mentioned forecast period.
Additionally, the rising growth in the biologics market and rapid increase in the funding and reimbursement will present ample growth opportunities for the drug discovery services market to grow in the forecast period of 2020 to 2027. The requirement for huge capital investment and low profit margins is the major factor expected to challenge the drug discovery services market.
This drug discovery services market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on drug discovery services market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Drug Discovery Services Market Scope and Market Size
Drug discovery services market is segmented on the basis of type, process, drug type and therapeutic area. The growth amongst these segments will help you analyze meager growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- 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.
Global Drug Discovery Services Market Country Level Analysis
Drug discovery services market is analyzed and market size insights and trends are provided by country, type, process, drug type and therapeutic area as referenced above.
The countries covered in the drug discovery services market report are 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.
North America region leads the drug discovery services market owing to the strong presence of well-established CROs, increasing R&D expenditure by pharmaceutical and biopharmaceutical companies along with the availability of latest techniques, instruments and facilities for drug discovery research in this particular region. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2020 to 2027 owing to the large number of qualified researchers and low-cost operations in emerging countries such India and China.
The country section of the drug discovery services market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
Drug discovery services market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for drug discovery services market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the drug discovery services market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Drug Discovery Services Market Share Analysis
Drug discovery services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to drug discovery services market.
The major players covered in the drug discovery services market report are 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., and Thermo Fisher Scientific, among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Drug Discovery Services Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.