Global Drug Discovery Technology Market 2024-2028
Drug Discovery Technology Market 2024-2028
The drug discovery technology market is forecasted to grow by USD 27313.2 mn during 2023-2028, accelerating at a CAGR of 9.2% during the forecast period. The report on the drug discovery technology market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing prevalence of chronic diseases, increased research and development expenditure by pharma companies, and government support and funding.
Technavio's drug discovery technology market is segmented as below:
By Product
- Genomics
- Proteomics
- Bioinformatics
- High-throughput screening (HTS)
- Others
By End-user
- Pharmaceutical and biotechnology companies
- Academic and research institutes
- CROs
By Geographical Landscape
- North America
- Europe
- Asia
- Rest of World (ROW)
This study identifies the introduction of new drug discovery technologies as one of the prime reasons driving the drug discovery technology market growth during the next few years. Also, focus on precision and targeted therapies and strategic partnerships among vendors will lead to sizable demand in the market.
The report on the drug discovery technology market covers the following areas:
- Drug Discovery Technology Market sizing
- Drug Discovery Technology Market forecast
- Drug Discovery Technology Market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading drug discovery technology market vendors that include Agilent Technologies Inc., Amgen Inc., AstraZeneca Plc, Bayer AG, Bruker Corp., Charles River Laboratories International Inc., Danaher Corp., Eli Lilly and Co., General Electric Co., GlaxoSmithKline Plc, Illumina Inc., Merck KGaA, Novartis AG, Novo Nordisk AS, Promega Corp., QIAGEN N.V., Revvity Inc., Sanofi SA, Takeda Pharmaceutical Co. Ltd., and Thermo Fisher Scientific Inc.. Also, the drug discovery technology market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.