New York, NY, Feb. 27, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Drug Discovery Services Market by Type (Pharmacokinetics and Drug Metabolism, Biology Services, and Medicinal Chemistry), by Process (Target Validation, Target Selection, Hit-To-Lead Identification, Candidate Validation, and Lead Optimization), by Drug Type (Biologics and Small Molecules), and by Therapeutic Area (Neurology, Diabetes, Oncology, Respiratory Diseases, Cardiovascular Diseases, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global drug discovery services market was valued at approximately USD 9.3 billion in 2018 and is expected to generate around USD 20.29 billion by 2025, at a CAGR of around 11.9% between 2019 and 2025.
In pharmacology, biotechnology, and medicine, the method of drug discovery is used to design and/or discover new medications. The drug discovery process comprises the identification of aspirants, production, depiction, selection, and assays for therapeutic usefulness. Once a compound has presented its value in these assessments, it will initiate the course of drug development leading to clinical trials. The drug target recognition, drug discovery selection, and drug design based on the fragment, lead compound recognition, and lead optimization form the core of drug discovery services.
Browse through 72 Tables & 36 Figures spread over 110 Pages and in-depth TOC on “Global Drug Discovery Services Market: Industry Size, Share, Type, Trends, Segments, Analysis and Forecast, 2018–2025”.
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The rising expenditure on research and development, growing inclination of pharmaceutical companies toward outsourcing to evade hurdles, increasing incidences of cancer and other life-threatening diseases, growing awareness regarding the use of new drugs, and increasing geriatric population worldwide are likely to be major driving the growth of the global drug discovery services market in the future. Patent expiry of current products and technological improvements in drug discovery services due to an increased focus on research and development is anticipated to create new market opportunities in the drug discovery services market over the estimated timeframe. Nonetheless, high costs associated with drug discovery, strict guidelines in some regions, and the drug testing on animals may restrict the global drug discovery services market.
The global drug discovery services market has been split into type, process, drug type, and therapeutic area. By type, the drug discovery services market is segmented into pharmacokinetics and drug metabolism, biology services, and medicinal chemistry. The medicinal chemistry segment is anticipated to hold the largest market share. The process includes target validation, target selection, hit-to-lead identification, candidate validation, and lead optimization. The hit-to-lead identification segment is anticipated to hold the largest market share in the future. The drug type segment includes biologics and small molecules. The therapeutic area segment includes neurology, diabetes, oncology, respiratory diseases, cardiovascular diseases, and others. The oncology segment is expected to hold a major market share in the future, owing to the increasing cases of cancer, growing tobacco usage, and unhealthy diets of people.
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By region, North America is likely to lead the global drug discovery services market over the forecast time period. The U.S. is the prominent drug discovery services market at the country level in North America. The U.S. is projected to grow at the highest CAGR in the years ahead, owing to the growing prevalence of chronic and auto-immune disorders, the presence of leading market players, availability of advanced healthcare infrastructure, and quick implementation of latest technologies.
Europe is anticipated be the second largest regional market in the years ahead, due to the increasing number of cancer and diabetes cases, growing geriatric population base, advantageous reimbursement scenario, and the presence of state-of-the-art healthcare infrastructure.
Browse the full “Drug Discovery Services Market by Type (Pharmacokinetics and Drug Metabolism, Biology Services, and Medicinal Chemistry), by Process (Target Validation, Target Selection, Hit-To-Lead Identification, Candidate Validation, and Lead Optimization), by Drug Type (Biologics and Small Molecules), and by Therapeutic Area (Neurology, Diabetes, Oncology, Respiratory Diseases, Cardiovascular Diseases, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/drug-discovery-services-market
The Asia Pacific market is projected to grow considerably over the estimated timeframe. India, China, and Japan are expected to drive this region’s drug discovery services market, owing to the growing cases of cancer owing to high tobacco usage, and increasing demand for small molecules and biologics.
The Latin American drug discovery services market is expected to demonstrate swift progress over the assessment time period, due to the growing investments made by the key players in the region, an increasing number of cancer cases, and initiatives taken by governments. The Middle Eastern and African region is projected to record restricted growth in this market due to the lack of advanced healthcare infrastructure.
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Some key players of the global drug discovery services market are Albany Molecular Research Inc. (AMRI), Thermo Fisher Scientific, Evotec, Charles River Laboratories International, Domainex, Covance, GenScript, Selcia Limited, WuXiAppTec, Viva Biotech, Pharmaceutical Product Development, LLC, and SRI International, among others.
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This report segments the global drug discovery services market into:
Global Drug Discovery Services Market: By Type
- Pharmacokinetics and Drug Metabolism
- Biology Services
- Medicinal Chemistry
Global Drug Discovery Services Market: By Process
- Target Validation
- Target Selection
- Hit-To-Lead Identification
- Candidate Validation
- Lead Optimization
Global Drug Discovery Services Market: By Drug Type
- Biologics
- Small Molecules
Global Drug Discovery Services Market: By Therapeutic Area
- Neurology
- Diabetes
- Oncology
- Respiratory Diseases
- Cardiovascular Diseases
- Others
Global Drug Discovery Services Market: By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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