New York, Dec. 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Drug Discovery Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06374536/?utm_source=GNW
, AstraZeneca PLC, Shimadzu Corp., Evotec SE, Boehringer Ingelheim, INC, Novartis, Johnson & Johnson and WIL Research Laboratories.
The global drug discovery market is expected to grow from $73.41 billion in 2021 to $85.15 billion in 2022 at a compound annual growth rate (CAGR) of 15.98%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The drug discovery market is expected to reach $136.10 billion in 2026 at a compound annual growth rate (CAGR) of 12.44%.
The drug discovery market includes revenues earned by entities by high throughput screening, spectroscopy, combinatorial chemistry, biochips, pharmacogenomics and pharmacogenetics, bioinformatics, metabolomics, and nanotechnology.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Drug discovery is the process of identifying biologically active compounds that possess the potential to become therapeutic agents.The drug discovery process involves different phases, from ideation to development to approval.
It is used to discover a new clinical drug for treating new, existing, and previously incurable diseases.
North America was the largest region in the drug discovery market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the drug discovery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The main types of drugs in the drug discovery market are small molecule and large molecule.The small molecules are used to identify small molecules with suitable properties for development.
Small molecule refers to a low molecular weight drug that can smoothly penetrate cells.The various processes in drug discovery includes target selection, target validation, hit-to-lead identification, lead optimization, and candidate validation.
The various technologies in drug discovery includes high throughput screening, spectroscopy, combinatorial chemistry, biochips, pharmacogenomics and pharmacogenetics, bioinformatics, metabolomics, nanotechnology, and other technologies.The drug discovery is applied in many therapeutic areas such as oncology, neurology, infectious and immune system diseases, digestive system diseases, cardiovascular diseases, diabetes, respiratory disease, and other therapeutic areas.
The drug discovery is used by pharmaceutical companies, CROs, and other end-users.
Rising healthcare expenditure is expected to propel the drug discovery market going forward.Countries around the world are spending a major share of their GDP on healthcare expenses which include hospital care, physician and clinical services, other professional services, dental services, other health, residential, and personal care, home health care, nursing care facilities, and continuing care retirement communities, prescription drugs, and others.
Drug discovery holds a significant part of the health expenditure, as it is required to treat diseases and prolong life.There is an increasing need for new drugs to treat new diseases.
For instance, In 2020, the US National healthcare expenditure (NHE) grew by 9.7% to $4.1 trillion, accounting for 19.7% of the U.S Gross Domestic Product (GDP). Therefore, rising healthcare expenditure is expected to propel the drug discovery market.
Technological advancements are a key trend in the drug discovery market.Companies operating in the drug discovery market are coming up with various new technologies such as AI, imaging technology, and others to reduce the time required for drug discovery.
The imaging technology enable non-invasive biological activities occurring within organisms in response to medications to be visualised, characterised, and quantified.These methods, which make use of the strengths of either probes or tissue itself, are crucial for understanding diseases and finding new treatments.
For instance, in October 2020, the CU Skaggs School of Pharmacy and Pharmaceutical Sciences, part of Colorado Anschutz, a USA-based medical university, announced a new drug discovery technology that includes a new robotic screening and imaging technology which cuts the screening time for new drug therapies by half and also enables rapid and cost-effective screening of hundreds of thousands of potential therapies for diseases.
In October 2021, Inotiv, a US-based contract research organization that focuses on nonclinical and analytical drug discovery and development services, acquired Plato BioPharma for $15 million.Through this acquisition, Inotiv intends to execute its strategy of developing a comprehensive range of contract research services spanning the entire drug discovery and preclinical development process.
Plato BioPharma is a US-based company specialising in vivo pharmacology research and drug discovery in the cardiovascular, renal, pulmonary, and hepatic therapeutic areas.
The countries covered in the drug discovery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The drug discovery market research report is one of a series of new reports that provides drug discovery market statistics, including drug discovery industry global market size, regional shares, competitors with a drug discovery market share, detailed drug discovery market segments, market trends and opportunities, and any further data you may need to thrive in the drug discovery industry. This drug discovery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06374536/?utm_source=GNW
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