Growing geriatric population, rising awareness of health & wellness among people, increasing demand for generic drugs, and rapid adoption of new and more innovative techniques for drug discovery are other important factors expected to boost market revenue growth over the forecast period.
Emergen Research has published its latest report titled “Drug Discovery Services Market, By Process (Target Selection, Target Validation, Hit-to-Lead Identification, Lead Optimization, Candidate Validation), By Type (Medicinal Chemistry, Biology Services, Drug Metabolism and Pharmacokinetics), By Drug Type (Small Molecules, Biologics, Infectious Disease Diagnostics), By Therapeutic Area (Oncology, Neurology, Infectious and Immune System Diseases, Digestive System Diseases, Cardiovascular Diseases, Others), By End-use (Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Research Institutes, Others), and By Region Forecast to 2028”
Market Dynamics:
Revenue growth of the global drug discovery services market is primarily attributed to factors such as rising prevalence of chronic and acute diseases worldwide, growing demand for medicines and therapeutics, rapid growth of the pharmaceutical and biotechnology industries, and increasing government investments in pharmaceutical and biopharmaceutical research & development activities. Growing geriatric population, rising awareness of health & wellness among people, increasing demand for generic drugs, and rapid adoption of new and more innovative techniques for drug discovery are other important factors expected to boost market revenue growth over the forecast period.
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Drug discovery refers to the process of discovering and designing new drug candidates for specific diseases and medical conditions. Common drug discovery methods include molecular designing, molecular manipulation, random screening, and drug metabolites. Drug discovery services – which generally include drug target recognition, drug design, compound recognition, lead optimization, and drug discovery selection – are also extensively used in forensic science, anthropology, disaster victim identification, and paternity testing. The global market revenue growth is further driven by increasing R&D activities for orphan drugs – which are used to treat genetic and rare diseases – growing need for outsourcing of drug discovery and clinical trial services, rising focus on development of advanced biologics, and rising demand for drug discovery services among pharmaceutical and biotechnology companies amid the ongoing COVID-19 pandemic for development of effective vaccines and therapeutics. Market revenue growth, however, is restrained by factors such as stringent regulatory norms regarding drug discovery & development, and high costs associated with R&D and manufacturing of new drug candidates.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Medicinal Chemistry Segment Accounted for Largest Revenue Share in 2020:
Based on type, the global drug discovery services market is segmented into Medicinal Chemistry, Biology Services, and Drug Metabolism and Pharmacokinetics (DMPK). The medicinal chemistry segment was the most dominant in terms of largest revenue share in the global market in 2020. Increasing applications of drug discovery services in medicinal chemistry, particularly in different phases of preclinical trials, and rising focus of pharmaceutical and biotechnology companies on new drug discovery & development are key factors driving this segment’s growth.
Infectious and Immune System Diseases Segment Accounted for Largest Revenue Share in 2020:
Based on therapeutic area, the global drug discovery services market is segmented into Oncology, Neurology, Infectious and Immune System Diseases, Digestive System Diseases, Cardiovascular Diseases, and Others. The infectious and immune system diseases segment held the largest revenue share in the global market in 2020. This segment’s revenue growth is attributed to factors such as rising prevalence of immune system disorders, rapid spread of infectious diseases worldwide – including the novel coronavirus disease – rise in drug discovery & development activities, and rising government investments in healthcare R&D projects.
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North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America drug discovery services market accounted for the largest revenue share in the global market in 2020. Major factors supporting the regional market revenue growth are rising prevalence of chronic and acute diseases, rise in demand for medicines and therapeutics, increasing pharmaceutical and biopharmaceutical R&D activities, and increasing adoption of advanced drug discovery techniques.
Major Companies in the Global Drug Discovery Services Market Include:
- Thermo Fisher Scientific
- Albany Molecular Research, Inc.
- Charles River Laboratories International, Inc.
- Evotec AG
- Eurofins Scientific
- WuXi AppTec
- GenScript Biotech Corporation
- GVK Biosciences Private Limited
- Jubilant Life Sciences
- Laboratory Corporation of America Holdings
- Lonza Group AG
- Piramal Enterprises Ltd.
- Viva Biotech
- Dalton Pharma Services
- Domainex
- Selvita S.A.
- SRI International
- BioDuro
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-use, and region:
Process Outlook (Revenue, USD Billion; 2018-2028)
- Target Selection
- Target Validation
- Hit-to-Lead Identification
- Lead Optimization
- Candidate Validation
Type Outlook (Revenue, USD Billion; 2018-2028)
- Medicinal Chemistry
- Biology Services
- Drug Metabolism and Pharmacokinetics (DMPK)
Drug Type Outlook (Revenue, USD Billion; 2018-2028)
- Small Molecules
- Biologics
- Infectious Disease Diagnostics
Therapeutic Area Outlook (Revenue, USD Billion; 2018-2028)
- Oncology
- Neurology
- Infectious and Immune System Diseases
- Digestive System Diseases
- Cardiovascular Diseases
- Others
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Research Institutes
- Others
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Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
Reasons to buy the report:
- This study segments the Drug Discovery Services market and derives the precise valuation of the overall, as well as segment-based, market across different industry verticals, geographies, and products.
- The report will help participants understand the trajectory of the progress of the market and provide information on key drivers, restraints, challenges, threats, and opportunities for the growth of the Drug Discovery Services sectors.
- This Drug Discovery Services report would allow readers to be well-versed with the existing competition and gain more insights to improve their standing in the worldwide business. The competitive landscape considers the dominant competitors, along with product launches and technological advancements, strategic expansions, mergers and acquisitions, and procurement strategies implemented by key players in the Drug Discovery Services market.
Key features of the report:
- To study the key aspects impacting the Drug Discovery Services market size.
- To identify growth prospects in the Drug Discovery Services market.
- To analyze the Drug Discovery Services market segments and deduce the dominant trends observed in the industry.
- To examine the Drug Discovery Services market by investigating the available products, market share, and value proposition of the products.
- To analyze the industry by assessing the scope and application of the Drug Discovery Services market and highlight the growth of each application.
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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