Drug Discovery Services Market - Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast 2017 - 2025
Global Drug Discovery Services Market: Snapshot
The global drug discovery services market is thriving on account of the rising impetus given to research and development across several industrial. Drug discovery forms an important niche of the pharmaceutical industry, and the extensive efforts employed by researchers to invent new drug models have popularized the market. The pharmaceutical companies have become increasingly concerned about manufacturing novel drugs, and freeing the process of drug discovery from any hassles. Hence, outsourcing of drug discovery has emerged as a prominent trend amongst these companies, which has propelled demand within the market. Furthermore, the rising expenditure on research and development of new drugs for the treatment of fatal diseases and disorders has also pushed market growth. Clinical trials and analytic testing is an important standpoint to analyze the contributors to the market. One of the most pressing concerns within the medical circles is the rising instance of cancers across the globe. Scientists and researchers are undertaking key research, testing, and development initiatives in order to find permanent cures for different cancers. Hence, the market for drug discovery services is treading a positive growth path on account of the developments in oncology.
The geographical segmentation of the market reveals key segments viz. North America, Europe, Asia Pacific, Latin America, and the rest of the world. The prominence of the North American region in research and development is expected to bolster regional growth.
WuXi AppTec, Albany Molecular Research Inc., GenScript, Charles River Laboratories International, Covance, and Evotec are some of the key players with proven competency within the market. These market players are expected to engage in core research in order to come up with effective drugs and molecular compositions.
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 reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.
TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.
TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.
5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
Current and Future Threats
Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.
Accurate Trend Analysis
Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.
The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
The reports offer answers to the top 7 questions that revolve around the growth of the market
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report