Drug Discovery Services Market to reach a valuation of US$ 50.9 Bn by 2032 - Comprehensive Research Report by FMI

Drug Discovery Services Market - Analysis, Outlook, Growth, Trends, Forecasts


DUBAI, United Arab Emirates, Feb. 07, 2022 (GLOBE NEWSWIRE) -- As per a recent report published by Future Market Insights, the global demand for drug discovery services is expected to rise at a 14.5% CAGR to acquire a valuation of US$ 50.9 Bn by the end of forecast period 2022-232. The global drug discovery services market size was valued at US$ 15.5 Bn in 2021 and is projected to reach a valuation of US$ 32 Bn by 2026

Attributes Details
Drug Discovery Services Market CAGR (2022 – 2032)14.5% 
Drug Discovery Services Market (2026)US$ 32 Bn
Drug Discovery Services Market AttractionLess stringent regulations make Asia Pacific key market

The global drug research services industry is booming as a result of increased funding for research and innovation in a multitude of segments. The drug discovery process is a significant part of the pharmaceutical sector.

The study on drug discovery services market finds that the efforts of researchers towards the development of new drug prototypes have popularized outsourcing of drug discovery services. Moreover, growing spending on research and the development of novel medications for the treatment of deadly diseases and disorders has stimulated the demand for drug discovery platform.

Request for Report Sample - https://www.futuremarketinsights.com/reports/sample/rep-gb-14258

Pharmaceutical and biopharmaceutical businesses are opting for seamlessly engaged and multifunctional solution providers for drug discovery research, from the developing phase to the late testing stages. Emerging trends in drug discovery services market portends that pharmaceutical companies opt for outsourcing as a key choice to offset the shortage of in-house manpower required for new product development, as pharmaceutical businesses face great pressure to reduce overhead costs.

Restrictive laws regulating drug research and animal testing are projected to limit drug distribution to some extent. Drug discovery service organizations are facing restrictions due to a limitation of trained employees.

The use of animals in pharmaceutical research is governed by strict laws. Mice, rats, fish, amphibians, and reptiles are the most common animals utilized in scientific studies. Considerations over the ethical use of animal experimentation have prompted countries to enact animal safety and use statutes, which raises a number of impediments to the future of drug discovery services market.

The drug discovery trends indicate that Biologics, such as proteins, peptides, and monoclonal antibodies, account for more than half of the therapeutic possibilities in the initial cycle. In 2022, biologics are estimated to make up for approximately half of the income earned by the top 100 pharmaceutical drugs. As per the global market study on drug discovery services, they provide the drug discovery services market with highest growth potential through the forecast period.

Despite the fact that small-molecule pharmaceutical companies monopolize the global pharmaceutical market, players working with biologics, biosimilars, and large-molecule drugs are tapping into the drug discovery services market opportunities primarily to introduce new biologic-based treatments and rising revenue from current biologics.

All-in-all, the drug discovery services market is expected to reach a valuation of US$ 32 Bn by 2026.

Key Takeaways

  • The drug discovery services market is divided into two types--chemistry and biology services. In 2020, the chemistry drug discovery services category held the greatest proportion of the market.
  • Small molecules are expected to occupy the largest share of revenue when compared to biologics. Drug discovery statistics specify that small molecules are expected to generate more than US$ 10,800 million in revenue by the end of 2026.
  • The oncology category is predicted to have the leading position, owing to the increasing number of cancer patients around the world.
  • In comparison to other innovative drug discovery services, Hit-To-Lead identification is expected to acquire the most traction.
  • As the most revenue generating phase, several CROs are already delivering Hit-to-lead identification services to pharmaceutical corporations.

Speak to our Research Expert: https://www.futuremarketinsights.com/ask-question/rep-gb-14258

“The Asia Pacific drug discovery services market growth is anticipated to be the highest during the projected duration, owing to expansions happening in the pharmaceutical and biopharmaceutical industry. A high proportion of contract research organizations (CROs), government incentives, high research and development in pharmaceutical industry, and the involvement of less restrictive standards for drug discovery programs (particularly in terms of using animals for research) across several APAC countries are some drivers sustaining the healthy growth of the drug discovery services market.”, opines a seasoned FMI analyst.

Comparative View of Adjacent Drug Discovery Services Market

AttributesDrug Discovery
Services Market
Computer-aided Drug
Discovery Market
Artificial Intelligence in
Drug Discovery Market
CAGR

(2022-2032)
14.5%15%40%
Market Value

(2026)
US$ 32 BnUS$ 7.9 BnUS$ 5 Bn
Growth FactorReadiness to outsource drug discovery services to support market growth.Cost-efficiency of drug development process to underpin adoption.Growing adoption of innovative drug development processes to reduce market times.
OpportunityEmerging Asia Pacific market hold high attraction quotient.Availability of high-end software and progressive improvement in their efficiency.Increased demand for drugs to curb the COVID-19 pandemic.
Key TrendsCross-industry collaboration to improve drug efficiency and boost adoption.Strategic tie-ups for product innovation is a go-to market move.Time is money. Manufacturers resort to rapid drug development.

Ask For Country-Specific Data@ https://www.futuremarketinsights.com/ask-country-specific/rep-gb-14258

Competitive Landscape

The COVID-19 pandemic highlighted the importance of outsourcing drug discovery services for companies and research groups in North America. These companies are now working together with the government to facilitate the drug discovery process.

  • Existencia, a business using artificial intelligence in drug discovery, announced a collaboration with Diamond Light Source and Scripps Research on March 31, 2020, to identify COVID-19 antiviral treatments.
  • Samsung Biologics, a South Korean pharmaceutical business, has signed a long-term partnership with Eli Lilly and Company to develop bamlanivimab, an investigational COVID-19 virus-neutralizing antibody.

Genesis Therapeutics and Genentech announced a multi-target drug discovery AI partnership in November 2020. Genesis' graph machine learning and drug discovery skills will be used in this cooperation to identify novel drug candidates for therapeutic targets in a variety of illness domains.

Explore FMI’s Extensive ongoing Coverage on Healthcare Domain

Peritoneal Catheter Systems Market: According to the latest research by FMI, Peritoneal Catheter Systems is set to witness a 7.1% growth during the year 2021-2031.

Patient Hygiene Aids Market: According to the latest research by Future Market Insights, Patient Hygiene Aids Market is set to experience 6.5% growth during the year 2021-2031.

Paediatric & Neonatal Testing Kits Market: According to the latest research by Future Market Insights, the Paediatric & Neonatal Testing Kits Market is expected to witness robust growth with 4-5% CAGR during the forecast period from 2021 to 2031.

Wound Skin Care Market: According to the latest research by Future Market Insights, Wound Skin Care market is set to witness a 6.2% growth during the year 2021-2031.

Venous device market: According to the latest research by Future Market Insights, Venous device market is set to experience 6.5% growth during the year 2021-2031.

Birth Tissue Products Market: According to the latest research by Future Market Insights, the birth tissue products market is ready to take its global graph on the upward direction to reach its high point.

Transplant Monitoring Kits Market: According to the latest research by Future Market Insights, Transplant Monitoring Kits Market is expected to witness robust growth with 4-5% CAGR during the forecast period from 2021 to 2031.

Topical Bioadhesives Market: According to the latest research by Future Market Insights, Topical Bioadhesives Market is set to experience growth during the year 2021-2031.

Stress Tracking Devices Market: According to the latest research by Future Market Insights, stress tracking devices market is set to experience positive growth during the year 2021-2031.

Vascular Boot market: According to the latest research by Fact.MR, Vascular boot market is set to witness a 5.5% growth during the year 2021-2031.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/drug-discovery-services-market
Press Release Source: https://www.futuremarketinsights.com/press-release/drug-discovery-services-market