Innovation, research, and science are primary needs for the discovery and characterization of a novel drug candidate for preclinical growth. The process of identifying and developing new candidates for treatment and therapy is drug discovery. Molecular design, molecular modification, drug metabolites, random screening, and others are the most common methods of drug discovery. The method of exploration, however, is usually costly and time-consuming. Drug discovery services are designed specifically to minimize the costs and time needed for the process.
Drug discovery services are commonly used in forensic science, paternity research, anthropology, and the identification of disaster victims. A key aspect of this section is DNA analysis. A mixture of drug-target identification, drug design, lead optimization, compound recognition, and drug discovery selection are drug discovery services. Due to increased demand for analytical research and clinical trials, the drug discovery services market is expanding rapidly.
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Owing to a major increase in the demand and availability of medicines, the Drug Discovery Services Sector is experiencing an accelerating growth. The growth of the market is supported by technological developments, the introduction of new drug discovery techniques and growing investment in the research and development sector.
Key Highlights From The Report
- Growing awareness of chronic health problems, increasing the pool of patients, an increase in unmet medical needs, strengthened regulatory environment for drug discovery, and an increase in the number of contracts and agreements between leading pharmaceutical and biotech giants would add momentum to market growth.
- Improvement in the outsourcing of drug development R&D and clinical trials of key drug candidates and the availability of advanced diagnostic procedures would drive the growth of the market over the expected timeframe.
- However, in low- and middle-income countries, the high costs associated with the research and production of new drug candidates and manufacturing, tight FDA regulations, and insufficient healthcare facilities are expected to restrict the growth of the industry.
- Over the last few years, North America has retained the largest share of the Drug Discovery Services Industry. The growing prevalence of chronic health problems, high spending on healthcare facilities and favourable reimbursement policies can be due to the substantial growth of the region’s economy
- Due to growing growth opportunities in APAC countries and a change in the research and manufacturing base of leading pharmaceutical companies, Asia Pacific is expected to register a significant CAGR over the forecast period.
- Key participants in the market include Albany Molecular Research, Inc., Thermo Fisher Scientific, Evotec, Covance, GenScript, Pharmaceutical Product Development, LLC, SRI International, WuXiAppTec, Charles River Laboratories International, Selcia Limited, Viva Biotech, Domainex, Merck KGaA among others.
- In February 2020, Eurofins Discovery and PharmaResources announced a partnership to create a joint drug discovery network for accelerating the development of small-molecule drugs.
- Covance joined forces with Medable in June 2020 to speed up the implementation of a decentralised technology for clinical trials. In order to provide crucial information about the COVID-19 trials and facilitate the recruitment process, Covance has launched a COVID-19 framework for clinical trials in the United States.
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Drug Discovery Services Market Segmentation
For the purpose of this report, Emergen Research has segmented the global drug discovery services market based on process, type, drug type, therapeutic area, end-user, and region
Process Outlook (Revenue, USD Billion; 2017-2027)
- Target Selection
- Target Validation
- Lead Optimization
- Candidate Validation
- Others
Type Outlook (Revenue, USD Billion; 2017-2027)
- Medicinal Chemistry
- Biology Services
- Pharmacokinetics and Drug Metabolism
Drug Type Outlook (Revenue, USD Billion; 2017-2027)
- Biologics
- Small Molecules
Therapeutic Area Outlook (Revenue, USD Billion; 2017-2027)
- Neurology
- Diabetes
- Oncology
- Cardiovascular Diseases
- Respiratory Illnesses
- Others
End-User Industry Outlook (Revenue, USD Billion; 2017-2027)
- Hospital & Clinics
- Pharmaceutical Companies
- Biotech Companies
- Research Institutes
- Others
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Regional Outlook (Revenue: USD Billion; 2017-2027)
- North America
- S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
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