Drug Discovery Services MarketGlobal Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2026

Global Drug Discovery Services Market is estimated to value over USD 15.1 billion by 2026 end and register a CAGR of over 10.6% during the forecast period 2019 to 2026.

Growing activities related to the research and development, increase in the research and development expenditure, major pharmaceutical firms that are shifting towards outsourcing are key factors leading to the global drug discovery services market growth. The Introduction of novel technology in the process of drug discovery is another major growth driver of the market. Although, strict government regulations on drug discovery services in some regions, high drug discovery and development costs and using animals as test subjects are impeding the market augmentation.

The global market shall probably witness substantial growth over the forecast period. Technological advancements in drug discovery are resulting into a better offering of services related to drug discovery. Some of the upcoming global drug discovery services market trends with respect to drug discovery methodology are initiatives undertaken by the government towards combinatorial chemistry technology, pharmacogenomics technology, etc. Furthermore, there has been a rise in the implementation of label-free techniques.

The hit-to-lead identification segment is predicted to garner maximum market traction. Increasing research and development activities based on the high-throughput screening is the key factor steering the usage of the process of hit-to-lead identification. The medicinal chemistry segment is predicted to turn up as the largest type in the global market. There has been a rise in the number of outsourcings by pharmaceutical firms, which is projected to come up as an integral steering factor. Multiple service providers offering drug discovery services based in the Asia Pacific are strengthening their foothold in Europe and North America.

The small molecules segment is projected to hold a major global drug discovery services market share with respect to revenue. Small molecules are garnering popularity as they are simple, well defined and easy to characterize. Furthermore, they can easily enter and kill cancer cells. Oncology is likely to come up as a dominant segment over the forecast period. An increasing number of people diagnosed with cancer has resulted in the high insistence for cancer-related therapeutics. Therefore, the oncology segment is projected to witness a substantial proliferation in the upcoming years.

The European region is the second-largest market region. The financial assistance by the government for patent expiration of various blockbuster drugs and for research and development activities are expected to steer the European drug discovery services market. Different biologic drugs, for instance, Abbott & Eisai's Humira, J&J's Remicade, Genentech's Rituxan, and shall possibly lose the protection of their patents in the upcoming years.

The Asia Pacific is a rapidly growing market segment due to the ever-increasing patient population and the developing pharmaceutical industry. The expenditure assigned to healthcare is found to be escalating in different regions of the region.

 Key market players involved in the global drug discovery services industry are Thermo Fisher Scientific, Merck, GE Healthcare, Albany Molecular Research, Inc. (AMRI), Charles River Laboratories International, Evotec, Pharmaceutical Product Development, LLC. (Ppd), Jubilant Biosys, Covance, Genscript Biotech Corporation, Aurigene Discovery Technologies, Wuxi Apptec, Syngene

Global 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 Drug Type

• Small Molecules
• Biologics

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By Therapeutic Area

• Oncology
• Neurology
• Cardiovascular Diseases
• Respiratory Diseases
• Diabetes
• Other Therapeutics Areas

By Region

• North America
• Europe
• Asia Pacific
• Rest of the world

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FutureWise Key Takeaways:

• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth

 Objectives of the Study:

• To provide with an exhaustive analysis on the global drug discovery services market by process, by type, by drug type, by therapeutic area and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific and the rest of the world
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies

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