Drug Discovery Technologies Market by Technology (Bioanalytical Instruments, Biochips, Bioinformatics), Drug Type (Biologic Drugs, Small-molecule Drugs), End User - Global Forecast 2024-2030

Drug Discovery Technologies Market by Technology (Bioanalytical Instruments, Biochips, Bioinformatics), Drug Type (Biologic Drugs, Small-molecule Drugs), End User - Global Forecast 2024-2030

The Drug Discovery Technologies Market size was estimated at USD 64.57 billion in 2023 and expected to reach USD 71.32 billion in 2024, at a CAGR 10.64% to reach USD 131.08 billion by 2030.

Drug discovery consists of new medications being discovered by using a vast array of technologies in the process. Drug discovery technologies are used to research and launch new drugs. The rising focus on healthcare has increased pharmaceutical drug consumption and created high demand for these medications worldwide. The prevalence of chronic diseases supplements this demand and therefore fuels the drug discovery technologies market potential. The rising incidences of diseases, pathogen resistance to old drugs, patent expiries, and fierce competition among drug manufacturers are the key factors driving the market's growth during the last couple of years. However, high costs, the long duration of the drug discovery process, and stringent regulatory mandates regarding drug development in various regions are restricting the market growth. Moreover, technological advancements, such as nanotechnology and RNA interference, are creating more efficient drug discovery platforms which fast-track the drug development cycle and enable drug manufacturers to develop effective drugs in a shorter period than conventional methods.

Regional Insights

The drug discovery technologies market in the Americas is highly evolving owing to the increasing need for advanced drugs and therapies to treat chronic and infectious disorders, supportive government initiatives for digitalizing drug discovery procedures, and ongoing advancements in drug discovery technologies. The investments by the Canadian government of around 59 million for the Canadian Critical Drug Initiative as part of an effort to boost drug research, commercialization, and manufacturing in the Alberta province and ongoing efforts by the United States to improve the regulatory science research activities have improved the utilization of drug discovery technologies in Americas. Moreover, the rising numbers of clinical trials, the presence of appropriate healthcare infrastructure, and supportive government approvals for healthcare drugs are expanding the scope of drug discovery technologies in the EMEA region. According to the European Medicines Agency (EMA), in the European Economic Area (EEA), approximately 4,000 clinical trials are authorized each year. In addition, the Asian government's focus on prioritizing AI in healthcare for drug discovery is expected to create growth opportunities for the drug discovery technologies market in the coming years.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Drug Discovery Technologies Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Drug Discovery Technologies Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Drug Discovery Technologies Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, Inc., Agilent Technologies, Inc, Amgen Inc., Applied Biosystems by Thermo FIsher Scientific, AstraZeneca PLC, Base Pair Biotechnologies by Aptamer Discovery Company, Bayer Healthcare AG, Bio-Rad Laboratories, Inc., bioMérieux, Bristol-Myers Squibb Company, Covaris, LLC, Curia Global, Inc., Elucidata Corporation, Eurofins Advinus Private Limited, Evotec SE, F. Hoffmann-La Roche Ltd., GE Healthcare Ltd., Gilead Sciences, Inc., Hichrom Limited by VWR International, Horiba, Ltd., Illumina, Inc., IQVIA Inc., Luminex Corporation by DiaSorin Group, Merck & Co., Inc., Novartis AG, Parr Instrument Company, Pfizer Inc., Piramal Pharma Solutions, Randox Laboratories Ltd., Revolution Medicines, Inc., Sanofi, Sygnature Discovery Limited, Syngene International Limited, and WuXi AppTec Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Drug Discovery Technologies Market to forecast the revenues and analyze trends in each of the following sub-markets:

Technology
Bioanalytical Instruments

Biochips

Bioinformatics

Combinatorial Chemistry

Genomics

High Throughput Screening

Nanotechnology

Pharmacogenomics

RNA interference
Drug Type
Biologic Drugs

Small-molecule Drugs
End User
Biopharmaceutical Companies

Biotech Companies

Pharmaceutical Companies

Research Institutes
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas

Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam

Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Drug Discovery Technologies Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Drug Discovery Technologies Market?
3. What are the technology trends and regulatory frameworks in the Drug Discovery Technologies Market?
4. What is the market share of the leading vendors in the Drug Discovery Technologies Market?
5. Which modes and strategic moves are suitable for entering the Drug Discovery Technologies Market?PDF E-mail From Publisher (2-5)Users License