Global Drug Discovery Services Market Size study & Forecast, by Process (Target Selection, Target Validation, Hit-to-Lead Identification, Lead Optimization, Candidate Validation), by Type (Chemistry Services, Biology Services), by Drug Type (Small-Molecul

Global Drug Discovery Services Market Size study & Forecast, by Process (Target Selection, Target Validation, Hit-to-Lead Identification, Lead Optimization, Candidate Validation), by Type (Chemistry Services, Biology Services), by Drug Type (Small-Molecule Drugs, Biologics), by Therapeutic Area (Oncology, Infectious Diseases, Neurological Diseases, Immunological Diseases, Endocrine and Metabolic Diseases, Respiratory Diseases, Digestive System Diseases, Cardiovascular Diseases, Genitourinary Diseases, Other Therapeutic Area), by End User (Pharmaceutical & Biotechnology Companies, Academic Institutes, Other End Users), and Regional Analysis, 2023-2030

Global Drug Discovery Services Market is valued approximately USD 17.9 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 14.9% over the forecast period 2023-2030. Drug discovery services encompass a range of scientific and technological solutions provided by specialized organizations to support the identification, development, and optimization of new drug candidates. These services involve various stages of the drug discovery process, including target identification and validation, high-throughput screening, hit-to-lead optimization, medicinal chemistry, ADME (absorption, distribution, metabolism, and excretion) studies, and preclinical development. Through a combination of expertise, advanced technologies, and research methodologies, drug discovery services aim to accelerate the discovery and development of safe and effective drugs, ultimately advancing healthcare and addressing unmet medical needs. The market drivers boosting the market growth are increasing R&D expenditure and growing prevalence of chronic diseases.

According to Statista, in 2022, the total spending on pharmaceutical R&D accounted to USD 238 billion and is expected to amount to USD 285 billion in 2028. The rising incidence of chronic diseases such as cancer, cardiovascular diseases, and neurological disorders has created a significant need for innovative and effective drug therapies. According to Statista, the cancer deaths worldwide are projected to rise from nearly 10 million in 2022 to over 16 million by 2040. Moreover, expansion of Biologics and Cell-Based therapies and increasing demand for personalized medicines may create lucrative opportunities. However, the high cost of Drug Discovery and limited availability of skilled workforce stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Drug Discovery Services Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to a well-established pharmaceutical sector, ongoing research and development projects, significant R&D spending, expansion of the biosimilar and generics markets, and increasing outsourcing of R&D services by pharmaceutical and biopharmaceutical companies in the region. However, Asia Pacific is expected to become the fastest growing during the forecast period, owing to factors such as growing pharmaceutical industry, and increasing outsourcing drug discovery activities to specialized service providers to streamline operations, reduce costs, and access specialized expertise.

Major market player included in this report are:
Laboratory Corporation of America Holdings
Charles River Laboratories International, Inc.
Eurofins Scientific SE
GVK Biosciences Private Limited
Albany Molecular Research Inc. (AMRI)
Domainex Ltd.
GenScript Biotech Corporation
Aurigene Discovery Technologies Ltd.
WuXi AppTec
Evotec SE

Recent Developments in the Market:
In February 2023, Evotec SE and Related Sciences have extended their collaborative partnership to pursue an integrated multi-target drug discovery agreement. Their joint objective is to identify, research, and advance highly targeted therapies to address unmet medical requirements.
In January 2023, Charles River Laboratories completed the acquisition of SAMDI Tech, Inc., a provider of label-free high-throughput screening (HTS) solutions for drug discovery research. This acquisition enhances Charles River Laboratories' capabilities in label-free HTS MS platforms and expands its portfolio of drug discovery solutions, resulting in a comprehensive library of offerings.

Global Drug Discovery Services Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered – Process, Type, Drug Type, Therapeutic Area, End User, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Process:
Target Selection
Target Validation
Hit-to-Lead Identification
Lead Optimization
Candidate Validation
By Type:
Chemistry Services
Biology Services
By Drug Type:
Small-Molecule Drugs
Biologics
By Therapeutic Area:
Oncology
Infectious Diseases
Neurological Diseases
Immunological Diseases
Endocrine and Metabolic Diseases
Respiratory Diseases
Digestive System Diseases
Cardiovascular Diseases
Genitourinary Diseases
Other Therapeutic Area
By End User:
Pharmaceutical & Biotechnology Companies
Academic Institutes
Other End Users

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Laboratory Corporation of America Holdings
Charles River Laboratories International, Inc.
Eurofins Scientific SE
GVK Biosciences Private Limited
Albany Molecular Research Inc. (AMRI)
Domainex Ltd.
GenScript Biotech Corporation
Aurigene Discovery Technologies Ltd.
WuXi AppTec
Evotec SE

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.