Drug Discovery Services Market Size, Business Strategies, Share, Growth, Trends, Revenue, Competitive Landscape and Developments Forecast by 2029

Drug Discovery Services Market: was valued at USD 19.42 Billion in 2022 and is expected to reach USD 53.58 Billion by 2029 at a CAGR of 15.6% during the forecast period.

Drug Discovery Services Market Overview: 

The Drug Discovery Services Market study may be tailored to incorporate pricing trend analysis of target brands, Market knowledge for additional countries (ask for a list of countries), clinical trial outcomes data, literature research, refurbished Market and product base analysis, and more. Target rival Market analysis can range from technology-based study to Market portfolio strategies. We can add as many rivals as you need data on in the format and data type you like. Our analysts can also supply you with data in raw raw excel files pivot tables or help you create presentations using the data sets included in the report.

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Drug Discovery Services Market: We refer to the process of finding possible new medications as “drug discovery.” It incorporates elements of chemistry, biology, and pharmacology, among other scientific disciplines. The Centre for Drug Evaluation and Research, or CDER, licences a large number of novel medications every year. CDER authorised fifty new medications in 2022, either as therapeutic biologics under biologics licence applications or as new molecular entities under new drug applications.

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

In terms of market share by kind, the medicinal chemistry services category was the biggest in 2022. The reason for the growth in this market segment is the increasing usage of chemistry in various early phases of drug development to produce strong candidates. During the forecast period, the medicinal chemistry segment is expected to rise at a faster rate due to the growing tendency of pharmaceutical companies outsourcing research and development services, as well as an increase in drug discovery and development activities and R&D expenditures.

by Therapeutic Area
Oncology
Neurology
Cardiovascular Diseases
Respiratory Diseases
Diabetes and Other Therapeutic Areas

In terms of therapeutic area, the respiratory systems category brought in around 16.8% of total revenue worldwide in 2022. The growth of this category has been driven by the growing prevalence of respiratory conditions such asthma, TB, COPD, and bronchitis, as well as the rise in medication resistance. Additionally, it has been noted that the creation of novel drug delivery methods, including nasal sprays, is the main factor driving segment revenue. In the UK, each year, lung diseases cause about 6 million inpatient bed days and roughly 700,000 hospital admissions.

by End-User
Pharmaceutical & Biotechnology companies
Academic Institutes
Other End Users (small CROs, IVD companies, and clinical laboratories)

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Key Players:

The Market competitive landscape Drug Discovery Services gives information by competitor. Business overview, financials, revenue produced, Market potential, investment in RD, new Market efforts, worldwide presence, production sites and facilities, production capacity, company strengths and weaknesses, product launch, product width and breadth, application domination are all mentioned. The data points presented above are only linked to the firms’ concentration on the Drug Discovery Services sector. These are the main 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)

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Regional Analysis:

The country portion of the Drug Discovery Services Market study additionally includes individual Market affecting elements and changes in legislation in the Market that affect present and future Market trends. Consumption volumes, production sites and volumes, import export analysis, price trend analysis, raw material costs, and downstream and upstream value chain analysis are some of the primary indicators utilised to anticipate the Market situation for particular nations. While providing forecast analysis of the nation data, the existence and availability of global brands, as well as the obstacles they face due to significant or scarce competition from local and domestic brands, as well as the impact of domestic tariffs and trade routes, are also taken into account.

COVID-19 Impact Analysis on Drug Discovery Services Market:

A detailed study of Covid-19 impacts the Drug Discovery Services Market is provided in the report.
The World Health Organization has declared Covid-19 a global health emergency due to its impact on thousands of people worldwide. The Coronavirus disease, which already affects these groups, had affected Drug Discovery Services Market segments.

Key Questions answered in the Drug Discovery Services Market Report are: 

• At what growth rate is the Drug Discovery Services Market evolving?
• Who are the major Market giants operating in the global Drug Discovery Services Market?
• Which application segment of the Drug Discovery Services Market is observing the fastest growth?
• What is the primary driving factor of the global Drug Discovery Services Market?