Global Drug Discovery Services Market Overview
The process of designing a new drug is called as drug discovery. Some of the most common methods deployed for effective drug discovery are molecular manipulation, drug metabolites, random screening, and serendipity. Drug discovery services are designed specifically to enable efficient economies of scale in the process of drug discovery. The global drug discovery services market is expected to exhibit a lucrative CAGR of 10.8% over the forecast period of 2017-2023.
Drug Discovery Services refer to as the outsourcing the process of development of a new medicine. These services minimize the costs and timelines of drug discovery. The most common methods employed for drug discoveries are molecular manipulation, drug metabolites, random screening, molecular designing, and serendipity. A rise observed in demand for cancer treatment has pushed sizeable growth in the global drug discovery services market.
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As per the data published by the World Health Organization (WHO), cancer is one of the most significant causes of death across the globe. According to the data, cancer killed 8.8 million deaths in 2015.
Key Player Analysis
Some of the key players in the global drug discovery services market are Abbott Laboratories Inc., Advinus Therapeutics, Agilent Technologies Ubiquigent, Albany Molecular Research Inc. (AMRI), AstraZeneca PLC, Aurigene, Bayer AG, Charles River Laboratories International, ChemBridge Corporation, Covance, Eli Lilly and Company, Evotec, Domainex, F. Hoffmann-La Roche Ltd, GE Healthcare, GenScript, GlaxoSmithKline LLC, GVK Biosciences, Jubilant Biosys, Lonza, Merck, Pharmaceutical Product Development, LLC (PPD), Piramal Enterprises, Promega Corporation, Selcia Limited, Shimadzu Corp., SRI International, Syngene International Ltd., Thermo Fisher Scientific, Viva Biotech, WuXi AppTec, and others.
The global drug discovery services market is studied for various segments on the basis of drug types, types of services, technology, therapeutic area, process, and end-user. Based on drug types, the global drug discovery services market is segmented into small molecule drugs and biologics drugs. Based on types of services, the drug discovery services market is segmented into drug metabolism and pharmacokinetics (DMPK) services, medicinal chemistry, pharmaceutical services, and biological services. Based on technology, the drug discovery services market is segmented into biochips, pharmacogenomics & pharmacogenetics, combinatorial chemistry, high throughput screening, nanotechnology, metabolomics, and spectroscopy.
Based on the therapeutic area, the global drug discovery services market is segmented into neurology, oncology, cardiovascular diseases, diabetes, and respiratory diseases. Based on the process, the drug discovery services market is segmented into target selection, target validation, hit-to-lead identification, lead optimization, and candidate validation. Based on end-user, the global drug discovery services market is segmented into pharmaceutical companies, biotechnology companies, research institutes, and hospitals & clinics.
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Detailed Regional Analysis
The drug discovery services market is regionally segmented into the Americas, Asia Pacific, Europe, and the Middle East & Africa. The Americas is expected to retain dominance over the drug discovery services market. This can be attributed to the increasing prevalence of chronic diseases and high healthcare expenditure. The Center for Disease Control & Prevention recently stated that approximately 92.1 million adults have at least one type of cardiovascular disease.
Europe is expected to follow behind the Americas and garner the second-largest share in the drug discovery services market over the forecast period. Such growth can be credited to the growing financial support provided by the government towards the research and development as well as the patent expiration of various blockbuster drugs. Different biologic drugs such as Genentech’s Rituxan, Abbott & Eisai’s Humira, and J&J’s Remicade are expected to lose their patent protection soon.
Asia Pacific is anticipated to be the fastest-growing drug discovery services market due to the growing patient pool in the region. Further, developments in the pharmaceutical sector are expected to push favorable growth in the regional drug discovery services market. The Middle East & Africa is holding the smallest share in the drug discovery services market owing to a sluggish development, lack of technical knowledge, and a poor healthcare sector.
- Pharmaceutical Companies
- Research and Development (R&D) Companies
- Diagnostic Laboratories
- Government Research Institutes
- Academic Institutes and Universities
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July 2019: Fujifilm and Axcelead Drug Discovery have formed a partnership to provide human induced pluripotent stem cell (iPSC)-based drug discovery services. The firms will offer iPCSs and iPCS-derived cells from a Fujifilm subsidiary ‘Fujifilm Cellular Dynamics’ along with Axcelead drug discovery services and customized drug evaluation and toxicity testing methods.
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