Drug Discovery Services Market

The global drug discovery services market is foreseen to grow by 12.5%, from USD 15.75 Billion in 2021 to USD 40.41 Billion in 2029. Growing R&D expenditure in the pharma & biopharma industry, high cost of in-house drug development, increasing demand for outsourcing analytical testing is to drive the market for the upcoming forecast period. However, stringent regulations governing drug discovery and animal usage remains one factor hindering the market growth over the anticipated period.

Market Definition

What is Drug Discovery Services?

Drug discovery is the process through which potential new medicines are identified. It involves a wide range of scientific disciplines, including biology, chemistry and pharmacology.

Market Overview

The drug discovery services market search study helps to thoroughly understand the current trend in the market competitive analysis of the players in the emerging market. Moreover, the DRO in the drug discovery services market offers valuable perspicuity and a current scenario for making the right decision. The research study covers the eminent players in the market with a detailed analysis of the company and a financial overview containing their net sales, business mix and geographical reach It mainly focuses on the key developments of the products/services offered by the company in recent years. Besides, we at Zettabyte have the expertise to analyses the global drug discovery services market player's competitive landscape helping the client comprehend their specific strategic growth approaches.

Drug discovery services market study by "Zettabyte Analytics" offers details about the market scope, market segmentation, technological advancement in the drug discovery services market and highlights the optimistic, competitive landscape and trends enduring over the years.

Major players in the drug discovery services market include Aragen Life Sciences Pvt. Ltd. (Formerly Gvk Biosciences Pvt. Ltd.), Charles River Laboratories International, Inc., Curia Global Inc., Dalton Pharma Services, Domainex Ltd., Dr. Reddy’S Laboratories Ltd. (Aurigene Discovery Technologies), Eurofins Scientific Se, Evotec Se, Frontage Holdings Corporation, Genscript Biotech Corporation, Jubilant Pharmova Limited, Laboratory Corporation Of America Holdings, Nuvisan Pharma Holding Gmbh, Pharmaceutical Product Development, Inc., Pharmaron Beijing Co., Ltd., Piramal Enterprises Limited, Promega Corporation, Selvita S.A. (Formerly Selvita Cro S.A.), Shanghai Chempartner Co., Ltd., Shanghai Medicilon Inc., Syngene International Limited, Tcg Lifesciences Pvt Ltd., Thermo Fisher Scientific, Viva Biotech (Shanghai) Ltd., Wuxi Apptec.

COVID-19 Impact on Global Drug discovery services Market

The global impact of COVID-19 has lost millions of lives with a massive cost to the healthcare system. Moreover, the treatment cost for patients with COVID-19 has also had a financial impact globally. the impact of COVID-19 on the drug discovery services market has forced the companies to change their sourcing, pricing, and promotion strategies. the drug discovery services market players are seen focusing more on optimizing the e-commerce networks with the rising innovations in the digital sector, which are creating new business models for the healthcare industry player.

Research Scope

The report provides market value for the base year 2021 and a yearly forecast from 2022 to 2029 in revenue (USD Million/ Billion). the market for each segment is present in North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and the regional basis for the forecast mentioned above.

Key industry dynamics, regulatory scenarios, major material dynamics and drug discovery services market future markets are analyzed to understand their impact on demand for the forecast period. growth rates have been estimated using correlation, regression and time-series analysis.

Market Segmentation

For the purpose of this report, the global drug discovery services market segmented on the basis of product type, therapeutic area, process, end user, and region:

Product Type Outlook:

On the basis of product type, the market is segmented into chemistry services, biology services.

Therapeutic Area Outlook:

On the basis of therapeutic area, the market is segmented into cardiovascular diseases, digestive system diseases, infectious and immune system diseases, neurology, oncology, other therapeutic area.

Figure 1 Drug Discovery Services Market By Therapeutic Area (Market Size And Forecast By Value - USD Million, 2021 & 2029)

Process Outlook:

On the basis of process, the market is segmented into target selection, target validation, hit-to-lead identification, lead optimization, candidate validation.

End Use Outlook:

On the basis of end user, the market is segmented into academic institutes, pharmaceutical & biotechnology companies, other end users.

Figure 2 End Use Outlook (Revenue, USD Million, 2021)

Regional Outlook (Revenue, USD million; 2021 & 2029)

Figure 3 Drug Discovery Services Market: Regional Dynamics