Drug Discovery Services Market Trends, Upcoming Trends, Emerging Growth, Key Players Segments and Forecast to 2023

29/dic/2020 20:51:30 Market Research Future Contatta l'autore

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The research report provides a big picture onDrug Discovery Services Market Trends 2020, on a global basis, offering a forecast and statistic in terms of revenue during the forecast period

Drug Discovery Services Market Global Opportunity and Growth By Drug Type (Small Molecule Drug, Biologics), by Type (DMPK, Pharmaceutical Services, Others), by Therapeutic Area (Oncology, Others), by Process, by Technology, and by End-User – Global Forecast Till 2023

Drug discovery is the process of designing a new drug. The most common methods employed for drug discovery are molecular manipulation, random screening, drug metabolites, molecular designing, and serendipity. Moreover, factors such as the increasing technological advancements and the adoption of new techniques for discoveries alongside the rising generic drugs, and the growing number of patents expiries are escalating the market on the global platform.

ALSO READ – https://www.medgadget.com/2019/09/drug-discovery-services-market-growth-future-trends-regional-share-size-demand-penetration-by-leading-companies-recent-developments-business-growth-and-comprehensive-research-study-till-2023.html

Acknowledging the exponential growth, the market perceives currently Market Research Future (MRFR), in its recently published study report asserts that the It is estimated that the drug discovery services market is expected to grow at a CAGR of 10.8% during the forecast period of 2017–2023.

Conversely, the requirement of huge capital investment, low-profit margins, and strict FDA regulations are some of the key factors acting as a headwind that is restricting the growth of market growth. However, factors such as the increasing government assistance, rising funding & reimbursement and improving regulatory framework would support the growth of the market during the assessment period. Also, the growing geriatric population and technological advancements in the medicinal field are contributing to the growth of the market.

Additional factors that are boosting the growth of the market include the increasing research & development activities predominantly led by the government support, burgeoning healthcare sector, the rising demand for generic drugs, increasing geriatric population, and technological advancements. Furthermore, the growing number of contract development and manufacturing organizations (CDMOs) that are fostering the activities of drug discovery and the rapidly proliferating pharmaceutical industry encourage the growth of the market to an extent.

Drug Discovery Services Market – Segments

For ease of understanding, the MRFR analysis has been segmented into seven key dynamics: –

By Drug Type : Biologics and Small Molecule Drug.

By Type of Services : Pharmaceutical Services, Drug Metabolism & Pharmacokinetics (DMPK) Services, Medicinal Chemistry, and Biological Services among others.

By Therapeutic Area : Neurology, Oncology, Cardiovascular Diseases, Diabetes Respiratory Diseases, and others.

By Process : Target Validation, Target Selection, Hit-To-Lead Identification, Candidate, and Validation Lead Optimization among others.

By Technology : Biochips, High Throughput Screening, Pharmacogenomics & Pharmacogenetics, Nanotechnology, Combinatorial Chemistry, Spectroscopy, Metabolomics, and others.

By End-user : Pharmaceutical Companies, Hospitals & Clinics, Biotechnology Companies, Research Institutes, and others.

By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World.

Drug Discovery Services Market – Competitive Landscape

Widely expanded the drug discovery services market appears to be highly competitive with numerous major and small-scale players forming a competitive landscape. These players compete against each other based on pricing and an array of services.

Major Players:

Key players leading the global drug discovery services market include,

Advinus Therapeutics
Agilent Technologies Ubiquigent
Abbott Laboratories Inc.
AstraZeneca PLC
Albany Aurigene
Charles River Laboratories International
Molecular Research Inc. (AMRI)
Bayer AG
Eli Lilly and Company
ChemBridge Corporation
Covance
Evotec
Domainex
GE Healthcare
Hoffmann-La Roche Ltd
GenScript
GlaxoSmithKline LLC
GVK Biosciences
Jubilant Biosys
Lonza
Merck
Piramal Enterprises
Promega Corporation
Pharmaceutical Product Development LLC (PPD)
Shimadzu Corp.
Selcia Limited
Thermo Fisher Scientific
Syngene International Ltd.
SRI International
Viva Biotech
and WuXi AppTec among others.

This strategic collaboration will offer customers of LakePharma with access to Twist’s antibody discovery and optimization platforms. Additionally, through the partnership Twist will be able to expedite discovery and development timelines while beginning with improved antibody therapeutics.

Industry/ Innovation/ Related News:

April 2019 —- Twist Bioscience (the US), a public company providing synthetic DNA announced its collaboration with LakePharma Inc. (the US), a leading biologics service provider specializing in the antibody, protein engineering, and analysis to bolster antibody discovery and optimization for biologic drug development.

Drug Discovery Services Market – Regional Analysis

The North American region, heading with the rising funding from government dominates the global drug discovery services market Moreover, factor such as the spreading awareness towards cost-effective applications of drug discovery services and increasing demand for personalized medicines drive the growth of the regional market. The increasing consumption of medicines led by the prevalence of chronic diseases, well-established healthcare sector, and the growing trend of personalized medicines are some of the other key driving forces behind the market growth in the region.

Also, factors such as the high healthcare expenditures, and augmenting demand for the novel drug discoveries substantiate the growth of the drug discovery services market in the North American region. The North America drug discovery services market is projected to grow at a substantial CAGR, creating a larger revenue pocket by 2023.

The drug discovery services market in the European region accounts for the second-largest market, globally. Factors such as financial support by the government for cancer research activities and the patent expiration of numerous blockbuster drugs are estimated to drive the regional drug discovery services market. Furthermore, the burgeoning pharmaceutical industry is a key driving force fostering the growth of the regional market and allowing it to grow at a considerable CAGR.

The Asia Pacific drug discovery services market is rapidly emerging as a promising market, globally. The availability of cost-competitive skilled labor force and raw materials are the key driving forces behind the growth of the regional market, encouraging foreign investors to shift their production bases in this rapidly growing market.

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