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Drug Discovery Services Global Market Analysis, Trends, Growth, Research And Forecast 2033
Drug Discovery Services Global Market
The drug discovery services market size is expected to see rapid growth in the next few years. It will grow to $30.1 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to regulatory framework changes, advancements in drug delivery systems, increasing interest in immunotherapy, shift towards rna-based therapeutics, targeting rare diseases. Major trends in the forecast period include advanced technologies adoption, biologicals and biopharmaceuticals growth, adoption of high-throughput screening, advancements in virtual screening , regenerative medicine focus.
Market Overview -
Drug discovery services refer to the procedure for identifying potential new medicines. It combines many scientific disciplines, including biology, chemistry, and pharmacology. These drug discovery services are offered in four stages: early drug discovery, pre-clinical phase, clinical phases, and regulatory approval.
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The Surge In Drug Discovery Trials Ignites Growth In The Drug Discovery Services Market
The growing focus on drug discovery trials is expected to propel the drug discovery services market. The drug development life cycle is critical for ensuring safe and effective drug delivery. Due to this, clinical trials are gaining prominence as an essential component of drug development. With the increasing importance of drug development and innovation in healthcare, the demand for drug discovery trials worldwide has increased. For instance, according to ClinicalTrials.gov, a platform for registering clinical trials, the total number of clinical trials reported until 2020 was 325,771 in March 2021, rising to 362,501 in 2021. Therefore, the growing focus on drug discovery trials will drive the growth of the drug discovery services market.
Competitive Landscape -
Major companies operating in the drug discovery services market report are Thermo Fisher Scientific Inc., Albany Molecular Research Inc., Charles River Laboratories International Inc., Laboratory Corporation of America Holdings, Domainex Ltd., GenScript Biotech Corporation, Pharmaceutical Product Development LLC, Advinus Therapeutics Pvt. Ltd., Jubilant Biosys Ltd., Evotec AG, Syngene International Ltd., Bayer AG, Merck KGaA, Ubiquigent Ltd., Eurofins Scientific SE, AppTec Laboratory Services Inc., GVK Biosciences Private Limited, Aurigene Discovery Technologies Limited, Viva Biotech Holdings, Pharmaron Beijing Co. Ltd., Selcia Limited, Concept Life Sciences Group Limited, BioDuro LLC, ChemPartner Corporation, Aptuit LLC, Sygnature Discovery Limited, Peak Proteins Ltd., SRI International, BioAscent Discovery Limited, Sai Life Sciences Limited, Promega Corporation, MedChemExpress LLC, Aragen Bioscience Inc., WuXi STA, BioNTech SE, Moderna Inc., Gilead Sciences Inc., Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals Inc., Amgen Inc., Bristol-Myers Squibb Company
Technological Innovations Reshaping The Landscape Of Drug Discovery Services
Technological advancements are the key trend in the drug discovery services market. The Major companies operating in drug development services are witnessing the market demand for using robotics and automated screening to increase the overall speed of drug discovery. This advancement enables key players to gain a competitive edge in the market. For instance, in February 2021, Arctoris Ltd., a UK-based tech-enabled platform company using biotechnology, robotics, & data science to accelerate drug discovery, launched Ulysses. This fully automated robotic platform provides superior-quality data to accelerate drug discovery. This automated technology platform rapidly generates reliable, measurable, and fully auditable datasets, allowing for better decision-making early in the drug discovery process.
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Key Segments -
The drug discovery services market covered in this report is segmented -
1) By Type: Chemistry Services, Biology Services
2) By Process: Target Selection, Target Validation, Hit-to-Lead identification, Lead Optimization, Candidate Validation
3) By Drug Type: Biologics Drug , Small Molecule Drug
4) By End user: Pharmaceutical and Biotechnology Companies, Academic Institutes, Other End Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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