Drug Discovery Services Market was valued at USD 22.45 Billion in 2023 and is expected to reach USD 61.93 Billion by 2030 at a CAGR of 15.6% during the forecast period.
Drug Discovery Services Market Overview:
Maximize Market Research, a leading market research firm, has released a new report providing a thorough analysis of the global Drug Discovery Services market for the forecast year. This report offers valuable insights into the market landscape, including a detailed examination of market competitors and key factors influencing the industry. The comprehensive study encompasses the value chain structure, geographical analysis, applications, market size, and forecasts for the specified period.
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Drug Discovery Services Market Report Scope & Research Methodology:
The Drug Discovery Services Market Report offers a comprehensive and insightful analysis of the pharmaceutical industry’s drug discovery services sector, providing a detailed scope that encompasses various facets of the market. This includes an exploration of services offered, therapeutic areas covered, and geographic regions considered. The research methodology adopted for this report employs a balanced combination of qualitative and quantitative approaches to ensure a thorough and accurate assessment. Primary research involves engaging with key stakeholders such as pharmaceutical companies, contract research organizations (CROs), and experts in the field through interviews and discussions. Secondary research encompasses an exhaustive review of relevant literature, industry reports, and databases to gather comprehensive data.
Drug Discovery Services Market Dynamics:
The Drug Discovery Services market dynamics are intricately influenced by a myriad of factors that shape the landscape of the pharmaceutical industry’s research and development efforts. A key driver is the continual surge in demand for novel therapeutic solutions, prompting pharmaceutical companies to increasingly rely on specialized drug discovery services. The expanding complexity of drug development processes and the need for expertise in various stages of discovery contribute to the market’s growth. Furthermore, advancements in technologies such as high-throughput screening, genomics, and artificial intelligence play a pivotal role in accelerating drug discovery processes. Collaborative efforts between pharmaceutical firms and contract research organizations (CROs) also contribute significantly to the market dynamics, enabling streamlined and cost-effective research initiatives. Regulatory changes, especially in response to global health challenges, impact the market by influencing research priorities and intensifying the focus on specific therapeutic areas.
Drug Discovery Services Market Segmentation:
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 Therapeutic Area
Oncology
Neurology
Cardiovascular Diseases
Respiratory Diseases
Diabetes and Other Therapeutic Areas
by End-User
Pharmaceutical & Biotechnology companies
Academic Institutes
Other End Users (small CROs, IVD companies, and clinical laboratories)
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Key Players:
1. Thermo Fisher Scientific (US)
2. Merck (US)
3. GE Healthcare (US)
4. Pharmaceutical Product Development, LLC. (Ppd) (US)
5. Covance (US)
6. Genscript Biotech Corporation (US)
7. Laboratory Corporation of America Holdings (US)
8. SRI International (US)
9. BioDuro (US)
10. Cullgen (US)
11. Nanosyn (US)
12. Radyus Research (US)
13. Visikol Inc (US)
14. Aurobindo Pharma (India)
15. Dr. Reddy’s Laboratories (India)
16. Jubilant Biosys Ltd. (India)
17. Lupin Pharmaceuticals (India)
18. Sun Pharmaceutical Industries Ltd. (India)
19. Serum Institute of India Pvt. Ltd. (India)
20. Syngene International Limited (India)
21. Piramal Enterprises Ltd (India)
22. Eurofins Advinus Limited (India)
23. Dalton Pharma Services (Canada)
24. Domainex (UK)
25. Selcia Limited (UK)
26. Selvita S.A. (Poland)
27. Wuxi Apptec (China)
28. Viva Biotech (China)
29. SYNthesis Med Chem (Australia)
30. Lonza Group AG (Switzerland)
31. Evotec A.G. (Germany)
Regional Insights:
The report provides a regional analysis of the global Drug Discovery Services market, covering North America, European Union, Asia-Pacific, Latin America, and Africa and the Middle East. It offers insights into development opportunities and challenges in each region, considering various goods, applications, end-users, and countries.
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COVID-19 Impact Analysis:
In response to the unprecedented impact of COVID-19, the report includes a dedicated section analyzing the pandemic’s effects on the Drug Discovery Services market. This covers changes in consumer behavior, demand patterns, supply chain dynamics, market forces, and government initiatives, providing valuable insights for navigating market challenges.
Key Questions Answered:
- Which are the major companies in the Drug Discovery Services market?
- Which is the potential market for Drug Discovery Services in terms of the region?
- Which application area of Drug Discovery Services is expected to grow at a significant rate in the market in the next 5 years?
- What are the opportunities for new market entrants?
- What will be the Drug Discovery Services market size?
- What are the growth prospects for the Drug Discovery Services market?
- What is the base year considered in the Drug Discovery Services market report?
- Which region holds the largest market share in the Drug Discovery Services market?
- What factors are anticipated to drive the Drug Discovery Services market?
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