The Drug Discovery Services Global Market Report 2023 by The Business Research Company, provides drug discovery services market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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In accordance with the insightful findings presented in The Business Research Company’s Drug Discovery Services Global Market Report for the year 2023, the anticipated trajectory of the global drug discovery services market is poised for a remarkable expansion. From its recorded valuation of $14.22 billion in 2022, the market is projected to ascend to a substantial $16.15 billion in 2023, exhibiting a commendable compound annual growth rate (CAGR) of 13.6%. However, the landscape of global economic resurgence, grappling with the aftermath of the COVID-19 pandemic, has encountered a considerable setback due to the geopolitical turbulence stemming from the Russia-Ukraine conflict.
The ramifications of this war have transcended national boundaries, triggering widespread economic sanctions, tumultuous commodity price escalations, and consequential disruptions in supply chains. Consequently, this geopolitical unrest has contributed to an inflationary surge impacting diverse sectors globally. Despite these challenges, the drug discovery services market is anticipated to burgeon further, envisioning a market size of $26.06 billion in 2027, propelled by a robust CAGR of 12.7%.
The growing focus on drug discovery trials is expected to propel the drug discovery services market. The drug development life cycle is critical for ensuring safe and effective drug delivery. Due to this, clinical trials are gaining prominence as an essential component of drug development. With the increasing importance of drug development and innovation in healthcare, the demand for drug discovery trials worldwide has increased.
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The drug discovery services market is segmented:
1) By Type: Chemistry Services, Biology Services
2) By Process: Target Selection, Target Validation, Hit-to-Lead Identification, Lead Optimization, Candidate Validation
3) By Drug Type: Biologics Drug , Small Molecule Drug
4) By End user: Pharmaceuticals and Biotechnology Companies, Academic Institutes, Other End Users
Top 5 Major Players:
- Thermo Fisher Scientific Inc
- Albany Molecular Research Inc
- Charles River Laboratories International Inc
- Laboratory Corporation of America Holdings
- Domainex
An overarching trend steering the drug discovery services market is the pervasive integration of cutting-edge technologies. Notably, prominent entities engaged in drug development services are increasingly recognizing the imperative of harnessing robotics and automated screening methodologies to amplify the pace of drug discovery initiatives. This strategic adoption of technological advancements not only expedites the overall drug discovery process but also bestows a competitive advantage upon industry leaders.
Illustratively, Arctoris Ltd., a United Kingdom-based platform company leveraging biotechnology, robotics, and data science to catalyze drug discovery, unveiled “Ulysses” in February 2021. Ulysses stands as a fully automated robotic platform, orchestrating a harmonious convergence of biotechnology and technology. This pioneering platform has been meticulously engineered to furnish high-fidelity data promptly, thus facilitating an accelerated drug discovery paradigm. Ulysses’ automated technology platform has emerged as a harbinger of enhanced efficiency, producing reliable, quantifiable, and fully auditable datasets. Such technological innovations empower informed decision-making during the nascent stages of the drug discovery continuum, underscoring the pivotal role of automation in reshaping the trajectory of pharmaceutical advancements.
1. Executive Summary
2. Drug Discovery Services Market Characteristics
3. Drug Discovery Services Market Trends And Strategies
4. Drug Discovery Services Market – Macro Economic Scenario
5. Drug Discovery Services Market Size And Growth
……
26. Africa Drug Discovery Services Market
27. Drug Discovery Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Drug Discovery Services Market
29. Drug Discovery Services Market Future Outlook and Potential Analysis
30. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2017-2022, $ Billion
Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
Table 3: Global Drug Discovery Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 4: Global Drug Discovery Services Market, Segmentation By Process, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 5: Global Drug Discovery Services Market, Segmentation By Drug Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
….
Table 47: Thermo Fisher Scientific Inc. Financial Performance
Table 48: Albany Molecular Research Inc. Financial Performance
Table 49: Charles River Laboratories International Inc. Financial Performance
Table 50: Laboratory Corporation of America Holdings Financial Performance
Table 51: Domainex Financial Performance
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