Drug Discovery Services Market Growth is Driven by Growing Awareness of Chronic Health Problems and Increasing Pool of Patients

Discovery and characterization of the novel drug candidate for preclinical development are primarily dependent on innovation, research, and science. Drug discovery is the process of discovering and designing novel candidates for medication and therapy. The most common drug discovery methods are molecular designing, molecular manipulation, drug metabolites, random screening, and others. However, the discovery process is generally expensive and time-consuming. Drug discovery services are predominantly designed with the purpose of minimizing the costs and time required for the process.

Drug discovery services find extensive usage in forensic science, paternity testing, anthropology, and disaster victim identification. DNA analysis is a crucial element of this segment. Drug discovery services are an amalgamation of drug-target recognition, drug design, lead optimization, compound recognition, and drug discovery selection. The market for drug discovery services is expanding rapidly due to increased demand for analytical testing and clinical trials.

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Key Highlights From The Report

• Growing awareness of chronic health problems, increasing the pool of patients, an increase in unmet medical needs, strengthened regulatory environment for drug discovery, and an increase in the number of contracts and agreements between leading pharmaceutical and biotech giants would add momentum to market growth.
• Improvement in the outsourcing of drug development R&D and clinical trials of key drug candidates and the availability of advanced diagnostic procedures would drive the growth of the market over the expected timeframe.
• However, in low- and middle-income countries, the high costs associated with the research and production of new drug candidates and manufacturing, tight FDA regulations, and insufficient healthcare facilities are expected to restrict the growth of the industry.
• Over the last few years, North America has retained the largest share of the Drug Discovery Services Industry. The growing prevalence of chronic health problems, high spending on healthcare facilities and favourable reimbursement policies can be due to the substantial growth of the region’s economy
• Due to growing growth opportunities in APAC countries and a change in the research and manufacturing base of leading pharmaceutical companies, Asia Pacific is expected to register a significant CAGR over the forecast period.
• Key participants in the market include Albany Molecular Research, Inc., Thermo Fisher Scientific, Evotec, Covance, GenScript, Pharmaceutical Product Development, LLC, SRI International, WuXiAppTec, Charles River Laboratories International, Selcia Limited, Viva Biotech, Domainex, Merck KGaA among others.
• In February 2020, Eurofins Discovery and PharmaResources announced a partnership to create a joint drug discovery network for accelerating the development of small-molecule drugs.
• Covance joined forces with Medable in June 2020 to speed up the implementation of a decentralised technology for clinical trials. In order to provide crucial information about the COVID-19 trials and facilitate the recruitment process, Covance has launched a COVID-19 framework for clinical trials in the United States.

For the purpose of this report, Emergen Research has segmented the global drug discovery services market based on process, type, drug type, therapeutic area, end-user, and region

• Target Selection
• Target Validation
• Lead Optimization
• Candidate Validation
• Others

• Medicinal Chemistry
• Biology Services
• Pharmacokinetics and Drug Metabolism

• Biologics
• Small Molecules

• Neurology
• Diabetes
• Oncology
• Cardiovascular Diseases
• Respiratory Illnesses
• Others

• Hospital & Clinics
• Pharmaceutical Companies
• Biotech Companies
• Research Institutes
• Others

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Regional Outlook (Revenue: USD Billion; 2017-2027)

• North America
  • U.S.
  • Canada
  • Mexico

• Europe
  • UK
  • Germany
  • France
  • BENELUX
  • Rest of Europe

• Asia Pacific
  • China
  • Japan
  • South Korea
  • Rest of APAC

• Latin America
  • Brazil
  • Rest of LATAM

• MEA
  • Saudi Arabia
  • UAE
  • Rest of MEA

Table of Content

Chapter 1. Methodology & Sources

1.1. Market Definition

1.2. Research Scope

1.3. Methodology

1.4. Research Sources

1.4.1. Primary

1.4.2. Secondary

1.4.3. Paid Sources

1.5. Market Estimation Technique

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2020-2030

Chapter 3. Key Insights

Chapter 4. Drug Discovery Services Market Segmentation & Impact Analysis

4.1. Drug Discovery Services Market Material Segmentation Analysis

4.2. Industrial Outlook

4.2.1. Market indicators analysis

4.2.2. Market drivers’ analysis

4.2.3. Market restraints analysis

4.3. Technological Insights

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.6. Competitive Metric Space Analysis

4.7. Price trend Analysis

4.8. Covid-19 Impact Analysis

Continued…

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