Increased R&D Efforts And Spending Are Expected To Generate US $ 50 Billion In Sales Of Drug Discovery Services By The End Of 2032.

25 Aug 2022
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Consistent Initiatives For Research On Rare Diseases, And The High Cost Of In-House Drug Development Are Expected To Boost The Growth Of The Market By 10.1% CAGR During Forecast Period Fact.MR – A Market Research and Competitive Intelligence Provider: The global drug discovery services market is expected to reach US$ 50 Billion by 2032 and is expected to witness a CAGR of 10.1% during the forecast period. Surge in R&D expenditure in the pharmaceutical/biopharmaceutical industries, rise In need for outsourcing analytical testing services, initiatives for research & development on rare diseases and orphan drugs, and the high cost of in-house drug development are all creating new profitable opportunities in the drug discovery services market. Rapid adoption of improved technologies in the drug development process is also a key growth factor of market expansion. However, there are factors such as drug research and development, and the use of animals in testing acting as a restraint to the growth of the market. Moreover, significant investments made by most pharmaceutical businesses in medication development are expected to boost the growth of the market. These firms invest in R&D to bring high-quality, innovative medicines to market. Also, the leading firms are enhancing their R&D efficiency through large R&D investments to realize long-term benefits and joint R&D efforts. Get Sample PDF Brochure with "Drug Discovery Services Market Analysis by Process (Target Selection, Target Validation, Hit-To-Lead Identification), by Type (Medicinal Chemistry, Biology Services, Pharmacokinetics), by Drug Type (Small Molecules and Biologics) by Therapeutic Area, by Region - Global Forecast 2022-2032" at, Key Takeaways: United States is expected to lead the drug discovery services market. In terms of pharmaceutical R&D investment, United States has the majority of the share. Moreover, significant push for generic pharmaceuticals and biosimilars are expected to enhance the demand for complex ingredients. Oncology is expected to witness the highest revenue share in the therapeutic area. Moreover, oncology is expected to generate more than US $ 6.9 Billion by the end of 2032. Medicinal Chemistry is expected to be the most common type of drug discovery services. It is expected to generate around US $ 6 Billion in revenue. Growth Drivers: Large pharmaceutical corporations are moving to a leaner business strategy that mainly focuses on outsourcing. Most pharmaceutical businesses outsource their testing services throughout R&D to increase profitability. Moreover, recent collaborations between large pharmaceutical corporations and CROs have validated this fact. Rise in spending on pharmaceutical R&D is expected to fuel the development of the drug discovery services industry. Pharmaceutical companies have been rapidly outsourcing their services and this is acting as a growth driver for the market. Infact, many drug discovery services companies in Asia are expanding their presence to North America and Europe. The Covid-19 pandemic has led to a massive boost to the pharmaceutical industry. There has been a consistent research to find a cure for Covid-19; this has ultimately widened expansion prospects. The share of large-molecules medications, biologics, biosimilars is increasing, due to introduction of new biologic-based treatments. Moreover, biologics and biosimilars need more specialized services than small molecules. High demand for these services to be outsourced to CROs is likely to support the demand of the drug discovery services market in the forecast period. To Gain In-depth Insights into Drug Discovery Services Market, Request Methodology at, Restraints: Animals are rapidly used in drug development process under strict limits. Mice, rats, fish, amphibians, and reptiles are the most common animals utilized in research. High concerns raised over the ethical use of animals in research have pushed countries to enact animal safety, which act as a restraint to the growth of the market. Competitive Landscape: Drug discovery services market is extremely fragmented, with several large players. Key players in the market are focusing on collaborations and acquisitions to enhance their market share. For instance, Eurofins Discovery and PharmaResouces announced cooperation in February 2020 to construct a combined drug discovery platform to accelerate the development of small-molecule pharmaceuticals. Key Companies Profiled by Fact.MR Syngene Wuxi Apptec Urigene Discovery Technologies Genscript Biotech Corporation Covance Jubilant Biosys Pharmaceutical Product Development, LLC. (PPD) Evotec Charles River Laboratories International Albany Molecular Research Inc. (AMRI) GE Healthcare Merck Millipore Thermo Fisher Scientific Inc. More Valuable Insights on Normal Balloon Catheter Market Drug Discovery Services by Process: Target Selection Target Validation Hit-To-Lead Identification Lead Optimization Candidate Validation Drug Discovery Services by Type: Medicinal Chemistry Biology Services Drug Metabolism and Pharmacokinetics Drug Discovery Services by Drug Type: Small Molecules Biologics Drug Discovery Services by Therapeutic Area: Oncology Neurology Cardiovascular Diseases Respiratory Diseases Diabetes and Other Therapeutic Areas Drug Discovery Services by Region: North America Latin America Europe Asia Pacific Middle East & Africa For Critical Insights on this Market, Request for More Info at, More Valuable Insights on Offer Fact.MR, in its new offering, presents an unbiased analysis of the global Drug Discovery Services Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032. The study reveals essential insights on the basis of Process (Target Selection, Target Validation, Hit-To-Lead Identification), by Type (Medicinal Chemistry, Biology Services, Pharmacokinetics), by Drug Type (Small Molecules and Biologics) by Therapeutic Area, by Region - Global Forecast 2022-2032 Explore Fact.MR’s Coverage on the Healthcare Domain Drug Eluting Balloon Catheter Market - The global market for drug eluting balloon catheters is anticipated to progress at an impressive CAGR of 18% over the next ten years. This analysis has been performed by skilled analysts at Fact.MR, a market research and competitive intelligence provider, also reveals that demand for drug eluting balloon catheters comprises 20% share in the overall balloon catheters market at present. Drug Delivery Systems Market - The worldwide drug delivery systems market was worth around US$ 40 Billion in 2022 and is expected to grow at a CAGR of more than 7.8% from 2022 to 2032, reaching roughly US$ 80 Billion by 2032. Demand for self-administration and home health care devices is expected to drive growth in the worldwide drug delivery systems market from 2022 to 2032. Drug Discovery Technologies Market - As of 2022, the global drug discovery technologies market accounts for a revenue of US$ 59 billion, which is expected to increase to US$ 81.5 billion by the end of 2026. This is because worldwide demand for drug discovery technologies is anticipated to surge at a CAGR of 8.4% from 2022 to 2026. Diuretic Drugs Market - Diuretic Drugs are also known as 'water pills'. Diuretic drugs get rid of extra water in the body and lower blood pressure. Diuretic drugs are a class of drugs that increase the flow of urine in the body. They do so by reducing the sodium and chloride concentration in the body by removing it through the urine. About Us: Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner. Contact: Mahendra Singh US Sales Office: 11140 Rockville Pike Suite 400 Rockville, MD 20852 Email: sales@factmr.com Tel: +1 (628) 251-158
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