Global Drug Discovery Services Market to Reach $61.1 Billion by 2030
The global market for Drug Discovery Services estimated at US$48.6 Billion in the year 2023, is expected to reach US$61.1 Billion by 2030, growing at a CAGR of 3.3% over the analysis period 2023-2030. Medicinal Chemistry Services, one of the segments analyzed in the report, is expected to record a 4% CAGR and reach US$31.6 Billion by the end of the analysis period. Growth in the Biology Services segment is estimated at 2.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $12.9 Billion, While China is Forecast to Grow at 6.9% CAGR
The Drug Discovery Services market in the U.S. is estimated at US$12.9 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$14.1 Billion by the year 2030 trailing a CAGR of 6.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.8% and 1.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 1.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$9.1 Billion by the year 2030.
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