Health

Drug Discovery Services Market To Have Significant Growth Rates 2030

March 5, 2024
kadambarimmr

The Drug Discovery Services Market was valued at USD 22.45 Billion in 2023 and is expected to reach USD 61.93 Billion by 2030 at a CAGR of 15.6% during the forecast period.

Drug Discovery Services Market Overview:

This research aims to offer a comprehensive analysis of the Drug Discovery Services Market by component, application, industry, and region. The main drivers of the Drug Discovery Services Market expansion are covered in great detail in the study. A thorough analysis of the market’s value chain is also provided by the study.

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Drug Discovery Services Market Scope:

Primary research is followed by secondary research using sources that gather revenue information from important suppliers in order to evaluate and forecast the Drug Discovery Services Market. Market segmentation is calculated taking into account vendor offerings. Utilizing the revenue of notable businesses, the bottom-up approach was used to determine the Drug Discovery Services Market’s overall size.

Drug Discovery Services Market Dynamics:

The Drug Discovery Services market is experiencing dynamic growth propelled by several key factors. One significant driver is the increasing demand for innovative therapeutics and treatments for a wide range of diseases, including cancer, infectious diseases, and neurological disorders. Pharmaceutical companies and biotech firms are increasingly outsourcing drug discovery activities to specialized service providers to access expertise and resources beyond their internal capabilities, thereby driving the demand for drug discovery services. Additionally, advancements in technology and research methodologies, such as high-throughput screening, computational modeling, and genomics, are enabling more efficient and targeted drug discovery processes, further fueling market growth. Moreover, the growing prevalence of chronic diseases and the emergence of new pathogens are creating a pressing need for rapid and effective drug development, driving the demand for drug discovery services. Furthermore, strategic collaborations and partnerships between pharmaceutical companies, academic institutions, and contract research organizations (CROs) are fostering innovation and expanding the reach of drug discovery services globally. As the pharmaceutical industry continues to invest in research and development to address unmet medical needs, the drug discovery services market is poised for continued growth and evolution.

Drug Discovery Services Market Segmentation:

by Process

Target Selection
Target Validation
Hit-to-Lead identification
Lead Optimization
Candidate Validation

by Type

Medicinal Chemistry
Biology Services
Drug Metabolism and Pharmacokinetics

by Therapeutic Area

Oncology
Neurology
Cardiovascular Diseases
Respiratory Diseases
Diabetes and Other Therapeutic Areas

by End-User

Pharmaceutical & Biotechnology companies
Academic Institutes
Other End Users (small CROs, IVD companies, and clinical laboratories)

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Drug Discovery Services Market Key Players:

The major players covered in the Drug Discovery Services Market report are

1. Thermo Fisher Scientific (US)
2. Merck (US)
3. GE Healthcare (US)
4. Pharmaceutical Product Development, LLC. (Ppd) (US)
5. Covance (US)
6. Genscript Biotech Corporation (US)
7. Laboratory Corporation of America Holdings (US)
8. SRI International (US)
9. BioDuro (US)
10. Cullgen (US)
11. Nanosyn (US)
12. Radyus Research (US)
13. Visikol Inc (US)
14. Aurobindo Pharma (India)
15. Dr. Reddy’s Laboratories (India)
16. Jubilant Biosys Ltd. (India)
17. Lupin Pharmaceuticals (India)
18. Sun Pharmaceutical Industries Ltd. (India)
19. Serum Institute of India Pvt. Ltd. (India)
20. Syngene International Limited (India)
21. Piramal Enterprises Ltd (India)
22. Eurofins Advinus Limited (India)
23. Dalton Pharma Services (Canada)
24. Domainex (UK)
25. Selcia Limited (UK)
26. Selvita S.A. (Poland)
27. Wuxi Apptec (China)
28. Viva Biotech (China)
29. SYNthesis Med Chem (Australia)
30. Lonza Group AG (Switzerland)
31. Evotec A.G. (Germany)

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Drug Discovery Services Market Regional Analysis:

Global, North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.

COVID-19 Impact Analysis on Drug Discovery Services Market:

Among the industries impacted by the COVID-19 pandemic are aerospace and defense, agriculture, cars, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance. As the effects of COVID-19 spread, they have had an effect on the Drug Discovery Services Market as a whole as well as the growth rate in 2019 and 2020. The businesses and associations in the Drug Discovery Services industry, which is navigating the COVID-19 emergency to handle risk digitisation jobs in order to convey reliable data and experiences to the CEOs, rely heavily on our latest administration inquiry, opinions, and knowledge.

Key Questions Answered in the Drug Discovery Services Market Report are:

  • Which segment grabbed the largest share in the Drug Discovery Services Market?
  • How was the competitive scenario of the Drug Discovery Services Market in forecast period?
  • Which are the key factors responsible for the Drug Discovery Services Market growth?
  • Which region held the maximum share in the Drug Discovery Services Market by forecast?

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