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Drug Discovery Market Continues to Expand For Development In Future Challenges

September 15th, 2021 Coherent Market Insights Releases

Developments in the fields of pharmaceuticals and biotechnology, for identifying active ingredients in drug forms through process of drug discovery is gradually receiving traction within the global drug discovery market. This process of drug discovery involves the chemical library screenings, identification of active components for natural remedies or through serendipitous discovery. Prevalence new diseases that include infectious or viral diseases results in high demand of drug discoveries for such conditions. However, drugs development is complex, risky and costly process.

The objective of drug discovery is to detect the success rates of investigational drug by pre-clinical studies, stages, investigational new drug application- Phase III, Phase II, Phase I, studies, new drug applications, along with phase IV studies. Success through process of drug discovery is extremely low, as per the Journal Research & Review published data in 2016. As per the data, among 5,000-10,000 screening of drug discovery, only 250 enter preclinical testing from with 5 enter clinical testing with just 1 drug being approved from the regulatory bodies, taking roughly up to 5-10 years.

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Furthermore, as per the similar source, process of drug discovery takes over 5-10 years to complete the process of discovery, development, as well introduction within the market, costing around US$1.7 Billion for entire process to go through successfully.

Market Dynamics

Increasing manufacturers are focused on developing innovative and new products for sustaining within the competitive market, which is expected drive growth of the global drug discovery market over the forecast period. The patent cliff offers an opportunity to manufactures for collaborating and participating in current model of drug discovery for sustaining in this market. Manufacturers including, Eli Lilly, Takeda, Pfizer, Gilead, and Bristol-Myers Squibb lost the patents in 2017, including some among their respective best sellers, covering a variety of indications including multiple sclerosis, erectile dysfunction, cancer, and HIV. Such loss of patent forces companies for introducing innovative products for retaining and increasing their revenue. After expiration of patent, generic manufacturers step foot in the market to provide drugs equivalent to drug of the innovator, however, at a remarkably lower cost.

Rising incidence of wide variety of disease including cancer, CNS-related disorders, and cardiovascular, with expiration of patent of successful drug are the factors expected to drive growth of the global drug discovery market over the forecast period. As per the World Cancer Research Fund International, in 2015, around 124,000 new myeloma cases were globally diagnosed in 2015, accounting for over 0.8% of total cases of cancer. Mortality rate of this disease is over 0.9% of total cancer-deaths, leading to 87,000 deaths annually. Therefore, major manufacturers are involved actively to develop immunotherapies targeting the B-cell maturation antigen (BCMA) including chimeric antigen receptor T-cells (CAR-T cells), antibody drug conjugates (ADCs), and bispecific antibodies. For instance, the University of Pennsylvania and Novartis, in 2012, signed an exclusive agreement of licensing and global research and for studying and commercializing new cellular immunotherapies with the use of the technology chimeric antigen receptor (CAR). Juno Therapeutics, in 2016, entered into the licensing agreement along with Eureka Therapeutics and Memorial Sloan Kettering Cancer Center (MSKCC) to develop CAR T cell immunotherapy for various novel targets.

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Regional Insights

North America held a dominant position in the global drug discovery market, preceding Europe in 2016. It is due to the presence of huge number of key biotech and pharmaceutical companies including, Merck, Pfizer, Inc., GlaxoSmithKline, and Novartis among many others in the region. Moreover, conducive regulatory framework and policies for the investors in R&D of novel drugs is expected to augment growth of the global drug discovery market in this region. The U.S. Regulatory Framework offers 3 distinct pathways of regulatory approval outlined within the Cosmetics Act (FD&C Act), Food, and Drug, which enables registration of new compounds, novel drugs consisting similar ingredients for products that are previously approved and their generic copies in systematic manner supporting the pharmaceutical players for gaining approval for new drugs.

Moreover, several biotechnological and pharmaceutical companies are focused on expansion in the Asia Pacific region, for maximizing their efforts in R&D as the region of Asia Pacific offers better access for patients in clinical trials, having operational efficiencies in lower costs. Rising government investments in R&D expected to aid growth in drug discovery within the region of Asia Pacific. For instance, the government of Korea, in March 2011, participated within the Korean National Enterprise for Clinical Trials, for advancing infrastructure of the country to conduct clinical trials, in turn fastening the clinical trial process and expected to fuel growth of the global drug discovery market over the forecast period.

Competitive Analysis

Key players in the global drug discovery market are focused on mergers and collaborations, to enhance their activities of research for some disease or indication. For instance, Imperial College London and AstraZeneca, in January 2018, collaborated for investigating biological drivers of respiratory diseases including chronic obstructive pulmonary disease, and asthma. Furthermore, Idera Pharmaceuticals Inc. and BioCryst Pharmaceuticals Inc., in January 2018, declared plans of a definitive agreement of merger for developing drugs for the patients having rare diseases.

Key players functioning in the global drug discovery market include Pfizer Inc., Merck & Co. Inc., GlaxoSmithKline LLC, Agilent Technologies Inc., F Hoffmann-La Roche Ltd, Eli Lilly and Company, Bayer AG, AstraZeneca PLC, Shimadzu Corp., and Abbott Laboratories Inc., among others.

Reasons to Purchase this Report

Current and future of global Drug Discovery market outlook in the developed and emerging markets

The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.

Regions/countries that are expected to witness the fastest growth rates during the forecast period

The latest developments, market shares, and strategies that are employed by the major market players

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Global Drug Discovery Market Taxonomy:

Based on Drug Type:

  • Biologics Drug
  • Small Molecule Drug

Based on Technology:

  • Biochips
  • High Throughput Screening
  • Bioinformatics
  • Combinatorial Chemistry
  • Pharmacogenomics and Pharmacogenetics
  • Nanotechnology
  • Metabolomics
  • Spectroscopy
  • Other Technologies

Based on Services:

  • Pharmaceutical Services
  • Drug Metabolism and Pharmacokinetics (DMPK) Services
  • Biological Services
  • Chemical Services

Based on End User

  • Pharmaceutical Companies
  • Biotechnology Companies
  • Research Institutes
  • Other End Users

Based on Region:

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Africa
  • Middle East

Major Point Answered in Drug Discovery Market Research Study are:

What will be the progress rate of the Drug Discovery Market for the conjecture period, 2020-2027?

What are the prominent factors driving the Drug Discovery Market across different regions?

Who are the major vendors dominating the Drug Discovery industry and what are their winning strategies?

What will be the market scope for the estimated period?

What are the major trends shaping the expansion of the industry in the coming years?

What are the challenges faced by the Drug Discovery Market?

Actual Numbers & In-Depth Analysis, Business opportunities, Market Size Estimation Available in Full Report.

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients to achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having an office at global financial capital in the U.S. and sales consultants in the United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies to not-for-profit organizations, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.

Contact:

Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
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India: +91-848-285-0837

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