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Projection of Revenue Growth:
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:
Maximize Market Research, a leading business research firm, has released a comprehensive report on the “Drug Discovery Services Market.” This report delivers an in-depth industry analysis, including business insights, demand trends, pricing strategies, and an examination of the competitive landscape, all for the forecast period.
Drug Discovery Services Market Report Scope:
The report provides a thorough examination of the Drug Discovery Services Market through detailed segmental analysis, market dynamics, and a competitive landscape overview. Data is sourced from both primary and secondary research methods, including government websites, news articles, and company annual reports. The study highlights key players in the Drug Discovery Services Market, recent innovations, and notable mergers and acquisitions. Additionally, the report offers insights into the drivers, challenges, opportunities, and trends influencing the Drug Discovery Services Market. Market size estimates are derived using a bottom-up approach, and the analysis includes a competitive assessment and key factors contributing to the market's expansion.
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Drug Discovery Services Market Regional Insights:
In terms of regional drug discovery services, North America will be the biggest in 2023. This can be ascribed to a number of factors, including the existence of reputable CROs, an increase in R&D spending by pharmaceutical and biopharmaceutical companies, the quick expansion of the biosimilar and biologics markets, and the accessibility of state-of-the-art facilities, tools, and techniques for drug discovery research in the area. Conventional medication development, testing, and inspection of approval processes are some important concerns for patients as well as the pharmaceutical business, which has been waiting for innovative treatments for illnesses.
Segment Covered in the Drug Discovery Services Market:
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)
List of the Key Players in the Drug Discovery Services Market:
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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Key questions answered in the Drug Discovery Services Market are:
- What recent industry trends can be leveraged to create new revenue streams in the Drug Discovery Services Market?
- What are the various segments within the Drug Discovery Services Market?
- Who are the major companies in the Drug Discovery Services Market, and what do their portfolios include?
- What is the Drug Discovery Services Market?
- What was the historical market size of the Drug Discovery Services Market?
- What is the current growth rate of the Drug Discovery Services Market?
- What factors are anticipated to drive growth in the Drug Discovery Services Market?
- Who are the leading players in the Drug Discovery Services Market?
- What are the different segments of the Drug Discovery Services Market?
- What strategies are companies employing to expand their presence in the Drug Discovery Services Market?
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