Drug discovery services have undergone a drastic change with the advancements in modern molecular biology methods and advanced knowledge of human genome. Drug discovery is becoming more hypothesis-driven target-based approach. Pharmaceutical companies and regulatory bodies are contributing to the drug discovery. Major pharmaceutical companies are also focusing on developing the team of excellent scientists working in many therapeutic fields and technologies. In the recent years, there has been an increase in a number of approvals for first-in-class drugs, this reflects the impact of advanced drug discovery technologies, and approaches. Drug discovery service providers are also focusing on sequencing of the human genome in order to open the way to genomics-based methods in drug discovery. Innovation currently seen in the drug discovery methods is based on more information about targets, disease phenotypes, and compounds.
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The report compiled by Fact.MR expects the global drug discovery services market is to witness robust growth, registering CAGR of 8.9% during 2017-2026. By the end of 2026, the global drug discovery services market is projected to reach US$ 16,800.1 million revenue. Increasing prevalence of chronic diseases and new diseases is driving the drug discovery services. Also, new technologies supporting drug discovery methods and techniques are evolving at a significant phase. Following are insight on how the global drug discovery services market will perform in the near future.
6 Key Insights on Global Drug Discovery Services Market
- North America is likely to remain dominant in the global drug discovery services market throughout the forecast period 2017-2026. Presence of leading pharmaceutical companies in the region is one of the factors driving the growth of drug discovery services in North America.
- Asia Pacific Excluding Japan (APEJ) is also anticipated to witness significant growth during 2017-2026. India and China are slowly becoming preferred locations for drug discovery outsourcing due to the technological capabilities developed. Fewer regulations and low manufacturing costs are also fueling the growth in APEJ region.
- Hit-To-Lead identification is likely to be the most preferred process in the global drug discovery services market. By the end of 2026, hit-to-lead identification is projected to reach nearly US$ 7,000 million revenue.
- By drug discovery service type, medicinal chemistry is likely to witness the significant growth. Towards the end of 2026, medicinal chemistry is projected to surpass US$ 6,000 million revenue.
- Small molecules are anticipated to be the largest drug type in the global drug discovery service market. Small molecules are projected to create an incremental opportunity of more than US$ 5,800 million between 2017 and 2026.
- On the basis of therapeutic area, highest growth is expected to be seen in oncology. Oncology is projected to reach nearly US$ 7,000 million revenue towards the end of 2026.
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The report offers a profile of some prominent players in the global drug discovery services market, which will stay active through 2026. The leading companies are Thermo Fisher Scientific, Inc., Merck Millipore, GE Healthcare, Albany Molecular Research, Inc. (AMRI), Charles River Laboratories International, Evotec, Pharmaceutical Product Development, LLC. (Ppd), Covance, Jubilant Biosys, Genscript Biotech Corporation, Aurigene Discovery Technologies, Wuxi Apptec, and Syngene.
To deliver a seamless understanding of the Drug Discovery Services Market, the report is divided into 18 sophisticated chapters whose snapshots are provided below.
Chapter 1 – Executive Summary
The report commences with the chapter of the executive summary which delivers brief yet affluent information of the Drug Discovery Services Market. The chapter includes discussion on the market overview, market analysis and market recommendations regarding the Drug Discovery Services Market derived based on Fact.MR’s proprietary wheel of fortune.
Chapter 2 – Market Introduction
In the market introduction chapter, the Drug Discovery Services Market is introduced along with the
market segmentation in the form of market taxonomy. The chapter also introduces the Drug Discovery Services in the market definition section.
Chapter 3 – Drug Discovery Services Market Background
In this chapter, macroeconomic factors, market dynamics, a complete value chain and pricing
analysis with regard to Drug Discovery Services Market is elaborately discussed. Discussion on the
market drivers, restraints, trends and opportunities and their impact on the market forecast is also
covered in this chapter.
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Chapter 4 – Global Drug Discovery Services Market Analysis 2013–2017 and Forecast 2018–2026
This chapter provides the Drug Discovery Services Market size in terms of market volume and value
during the forecast period. Market analysis based on absolute $ opportunity and y-o-y growth of the Drug Discovery Services Market is also covered in this chapter.
Chapter 5 – Global Drug Discovery Services Market Analysis 2013–2017 and Forecast 2018–2026,
By System Type Based on system types in the Drug Discovery Services Market, the chapter elaborates market size of individual systems and analysis by system types and summary of this section is covered in the chapter.
Chapter 6 – Global Drug Discovery Services Market Analysis 2013–2017 and Forecast 2018–2026, By Application
Based on applications, Market size of individual applications, their market attractiveness analysis and summary are also covered.
Chapter 7 – Global Drug Discovery Services Market Analysis 2013–2017 and Forecast 2018–2026, By End User
This chapter elaborates the segmentation of the Drug Discovery Services Market based on end users
including independent end users, Market attractive analysis by end users is also discussed to fathom relative lucrativeness of different end users of the Drug Discovery Services Market.
Chapter 8 – Global Drug Discovery Services Market Analysis 2013–2017 and Forecast 2018–2026, By Region
With the geographical perspective, the Drug Discovery Services Market is analyzed on a total of seven regions including North America, Latin America, Europe, South East Asia & Pacific, Middle East & Africa, China and Japan. Historical data and prevailing trends in the Drug Discovery Services Market and their influence on the global market performance is discussed in this chapter.