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Global Drug Discovery Services Market: Overview
The key factors boosting the drug discovery services market is the increasing research and development expenditure, an increase in the number of pharmaceutical companies outsourcing their work to avoid various hassles, and an increasing demand for outsourcing clinical trials services and analytical testing. However, the market can be restricted on account of the stringent regulations which govern drug discovery. Stringent policies regarding the use of animals will also hamper the growth of this market. In addition to this the high cost involved in the discovery and development of drugs will pose a challenge for the growth of this market.
Global Drug Discovery Services Market: Trends
Of the two types of drugs available in the market viz biologics and small molecules, the demand for small molecules is large on account of the simplicity of these drugs as well as the ease to characterize. As small molecules are well defined, they can easily enter cells, cause a person's cancer cells to die, and affect other molecules. Thus, many targeted therapies make use of small molecules. Of the key services offered such as biology service, medicinal chemistry, and drug metabolism and pharmacokinetics (DMPK), the demand for medicinal chemistry is high on account of the growing inclination of pharmaceutical companies towards outsourcing. On the basis of therapeutic area, this market may be categorised into neurology, oncology, respiratory diseases, cardiovascular diseases, and diabetes. Of these it is estimated that the oncology therapeutic area will drive maximum revenue on account of the increasing number of patients suffering from cancer.
Global Drug Discovery Services Market: Market Potential
Target selection, hit to lead identification, target validation, candidate validation, and lead optimisation are some of the processes in the drug discovery service market. Of these, the hit to lead identification process is emerging as a leading process on account of the growing research based on high throughput screening.
Global Drug Discovery Services Market: Regional Outlook
The global drug discovery services market can be segmented into Europe, North America, Latin America, Asia Pacific, and the Rest of the World. Of these, it is anticipated that North America will continue to lead in the market on account of the early adoption of advanced technologies. Asia Pacific is also expected to emerge as a key drug discovery services market in the years to come.
Global Drug Discovery Services Market: Competitive Landscape:
The market for drug discovery services is highly fragmented with a large number of regional and international players. Some of the players are: Thermo Fisher Scientific, Charles River Laboratories International, Albany Molecular Research Inc., Domainex, WuXi AppTec, Piramal Enterprises, GenScript, GVK Biosciences, Jubilant Biosys, Pharmaceutical Product Development, LLC (PPD), Merck, SRI International, Covance, Viva Biotech, Evotec, Selcia Limited, GE Healthcare, and Lonza.
The study presents reliable qualitative and quantitative insights into:
The regional analysis covers:
The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.
Highlights of the report:
Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.
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