Healthcare

Drug Discovery Services Market 2023 – Size, Industry Growth Rate, Top Trends, Major Players And Forecast To 2032 | Thermo Fisher Scientific Inc., Albany Molecular Research Inc., Charles River Laboratories International Inc., Corporation of America Holdings

The Drug Discovery Services Global Market Report 2023 by The Business Research Company, provides drug discovery services market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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As outlined in The Business Research Company’s enlightening Drug Discovery Services Global Market Report 2023, there exists a compelling trajectory in the global drug discovery services market. Forecasts indicate a noteworthy expansion from the 2022 valuation of $14.22 billion to an anticipated $16.15 billion in 2023, boasting a commendable compound annual growth rate (CAGR) of 13.6%. However, the specter of the Russia-Ukraine war casts a momentary shadow over the global economic resurgence from the COVID-19 pandemic. The geopolitical tensions have triggered economic sanctions, commodity price spikes, and supply chain upheavals, culminating in inflationary pressures felt across diverse sectors worldwide.

In the midst of these challenges, the drug discovery services market is poised to evolve, projecting a promising ascent to $26.06 billion by 2027, characterized by a robust CAGR of 12.7%. The impetus behind this growth is notably attributed to an escalating emphasis on drug discovery trials, a pivotal dimension in the drug development life cycle. Recognizing the pivotal role these trials play in ensuring the safety and efficacy of drug delivery, clinical trials have gained paramount importance in the broader landscape of drug development. Against the backdrop of a burgeoning focus on drug development and healthcare innovation, there is a discernible surge in the global demand for drug discovery trials, signifying a compelling narrative of evolution and advancement within this dynamic market.

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The drug discovery services market is segmented:

1) Drug Discovery Services Market By Type: Chemistry Services, Biology Services

2) Drug Discovery Services Market By Process: Target Selection, Target Validation, Hit-to-Lead Identification, Lead Optimization, Candidate Validation

3) Drug Discovery Services Market By Drug Type: Biologics Drug , Small Molecule Drug

4) Drug Discovery Services Market By End user: Pharmaceuticals and Biotechnology Companies, Academic Institutes, Other End Users

Top Major Players

Thermo Fisher Scientific Inc.

Albany Molecular Research Inc.

Charles River Laboratories International Inc.

Corporation of America Holdings

The prevailing trend in the drug discovery services market revolves around significant technological advancements. Notably, major companies engaged in drug development services are increasingly recognizing the market’s call for the integration of robotics and automated screening techniques to amplify the overall pace of drug discovery initiatives. This technological leap not only addresses the burgeoning demand but also positions key industry players to secure a distinctive competitive advantage. A noteworthy example in this realm transpired in February 2021 when Arctoris Ltd., a cutting-edge UK-based tech-enabled platform company specializing in the fusion of biotechnology, robotics, and data science for accelerated drug discovery, unveiled Ulysses. This groundbreaking, fully automated robotic platform represents a paradigm shift, delivering high-caliber data to expedite drug discovery processes significantly. Ulysses, through its automated technology prowess, swiftly generates datasets that are not only reliable and measurable but also fully auditable, thereby empowering informed decision-making in the early stages of drug discovery. This intersection of advanced technology and drug development heralds a new era of efficiency and precision in the pharmaceutical landscape.

The drug discovery services market report table of contents includes:

1. Executive Summary

2. Drug Discovery Services Market Characteristics

3. Drug Discovery Services Market Trends And Strategies

4. Drug Discovery Services Market – Macro Economic Scenario

5. Drug Discovery Services Market Size And Growth

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26. Africa Drug Discovery Services Market

27. Drug Discovery Services Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Drug Discovery Services Market

29. Drug Discovery Services Market Future Outlook and Potential Analysis

30. Appendix