Global Drug Discovery Services Market is expected to reach USD 18.15 Billion by 2024 from USD 7.52 Billion in 2016 at CAGR of 11.64%.
Increasing research & development expenditure, increasing patient pool, unmet medical needs, patent expiration of blockbuster drugs, enhancing regulatory framework, government assistance, rising funding & reimbursement, increasing demand for outsourcing of analytical testing and clinical trial services, inclination of major pharmaceutical companies towards outsourcing to avoid hurdles, growing awareness about chronic diseases, is driving the drug discovery services market.
Process segment of drug discovery services is segmented into target selection, target validation, and hit-to-lead identification. Hit-To-Lead identification is anticipated to lead maximum share. Research based on the high-throughput screening (HTS) is the main factor driving the use of hit-to-lead identification process
Medicinal chemistry, biology services, and drug metabolism and pharmacokinetics. Medicinal chemistry segment is expected to dominate the market during the forecast period, owing to increasing number of drug discovery and developmental activities, and increasing inclination of pharmaceutical companies towards outsourcing.
Drug type segment is bifurcated as small molecules and biologics. Small molecules are more preferred than biologics. Small molecules are easy to characterize, simple and well defined. Small molecules can easily enter cells, and can cause cancer cells to die hence is leading drug discovery services market.
Geographically, North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America is expected to dominate the drug discovery services market in the forecast period followed by Europe and the Asia Pacific. Technologically advanced research platforms existence and early adoption of highly developed technologies and a supportive economic structure will fuel the drug discovery services market in the North America region.
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Scope of the Report:
Drug Discovery Services Market, By Process:
• Target Selection
• Target Validation
• Hit-To-Lead Identification
• Lead Optimization
• Candidate Validation
Drug Discovery Services Market, By Therapeutic Area:
• Cardiovascular Diseases
• Respiratory Disorders
• Other Therapeutic Areas
Drug Discovery Services Market, By Drug Type:
• Small Molecules
Drug Discovery Services Market, By Type:
• Medicinal Chemistry
• Biology Services
• Drug Metabolism and Pharmacokinetics (DMPK)
Drug Discovery Services Market, By Geography:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players in the Drug Discovery Services Market:
• GE Healthcare
• Albany Molecular Research, Inc. (AMRI)
• Pharmaceutical Product Development, LLC. (Ppd)
• Wuxi Apptec
• Galapagos NV
• Aurigene Discovery Technologies
• Genscript Biotech Corporation
• WIL Research Laboratories LLC
• Jubilant Biosys
• Charles River Laboratories International
• Thermo Fisher Scientific
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