Our comprehensive research on the Global Drug Discovery Services Market (2023-2031) provides insights for businesses. It covers trends, investments, tech advancements, and major players. The report uses qualitative and statistical data from 2017-2031, including SWOT, BCG, PESTLE analysis, and visuals. It offers a full market landscape with stakeholder insights, regional outlooks, and financial considerations.
The global drug discovery services market size was US$ 9,112 million in 2021. The global drug discovery services market is forecast to grow to US$ 19,512 million by 2030 by registering a compound annual growth rate (CAGR) of 9.1% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
The rising demand for novel drugs will drive the growth of the drug discovery services market in the coming years. In addition, changing market dynamics and increasing demand for accurate and robust analytical testing will drive the market forward during the forecast period.
Growing investments in research and development and the rising trend of big data, artificial intelligence will offer ample growth opportunities for the market. Pfizer invested nearly US$ 7,690 million in R&D in 2016 and approximately US$ 8,650 million in 2019. Such investments are likely to propel the drug discovery services market forward.
The growing prevalence of chronic diseases will fuel the growth of the drug discovery services market. On the contrary, stringent regulatory requirements may limit the growth of the global drug discovery services market.
The rising individual spending on healthcare is forecast to benefit the market in the coming years.
Regional Analysis
Of all the regions, the Asia-Pacific drug discovery services market is forecast to emerge as the largest market. The growth of the market will be mainly due to the contribution of emerging economies like China, India, and Japan. In addition, China held the largest share of this market in 2020, owing to the favorable government policies to boost healthcare expenditure. In addition, the presence of leading pharmaceutical companies in the region will benefit the market. Growing research and manufacturing base, together with the rising prevalence of diseases, will contribute to the growth of the market.
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Competitors in the Market
- Thermo Fisher Schientific
- Merck KGaA
- Charles River Laboratories International
- GE Healthcare
- Evotec
- Jubilant Biosys
- Covance
- Genscript Biotech Corporation
- Aurigene Discovery Technologies
- Wuxi Apptec
- Syngene
- Eurofins Scientific
- Laboratory Corporation of America Holdings
- GVK Biosciences Private Limited
- Lonza Group AG
- Piramal Enterprises Ltd.
- Dalton Pharma Services
- Viva Biotech
- Selvita
- Other Prominent Players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Drug Discovery Services industry experienced notable growth in its workforce. Starting in January, employment within the Drug Discovery Services sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Drug Discovery Services output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Drug Discovery Services output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Drug Discovery Services market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Drug Discovery Services market.
Market Segmentation
The global drug discovery services market segmentation focuses on Process, Type, Drug, Therapeutic Area, Company Type, and Region.
By Process
- Target Selection
- Target Validation
- Hit-To-Lead Identification
- Lead Optimization
- Candidate Validation
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By Type
- Medicinal Chemistry Services
- Biology Services
- Drug Metabolism and Pharmacokinetics
By Drug Type
- Small Molecule Drugs
- Biologic Drugs
By Therapeutic Area
- Oncology
- Central Nervous Systems
- Cardiovascular
- Infectious Disease
- Metabolic Disorders
- Others
By Company Type
- Tier 1 Pharmaceutical Companies
- Tier 2 Pharmaceutical Companies
- Tier 3 Pharmaceutical Companies
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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Table of Contents:
Chapter 1: Introduction to the Global Drug Discovery Services Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Drug Discovery Services Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Drug Discovery Services Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Drug Discovery Services Market Size (2023-2031)
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Drug Discovery Services market revenues, extending projections until 2030. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Drug Discovery Services market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Drug Discovery Services business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
Why is our study consequential?
Our study holds paramount importance for various reasons, a few of which include:
• Assisting businesses in gauging the viability of new or existing products or services.
• Facilitating business enterprises in the identification and cultivation of novel market segments.
• Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.
• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
• Analyzing market trends to aid businesses in devising adaptive strategies.
• Guiding businesses in the optimal placement of their products.
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