Drug Discovery Services Market – Industry Analysis and Forecast (2017-2024) _ by Process (Target Selection, Target Validation and Hit-To-Lead Identification), by Type (Medicinal Chemistry, Biology Services and Drug Metabolism and Pharmacokinetics (DMPK)), by Drug Type (Small Molecules and Biologics), by Therapeutic Area (Oncology, Neurology Cardiovascular Diseases and Others), and by Geography.
It is applicable in paternity testing, disaster victim identification, forensics, and anthropology with DNA analysis/profiling being a key tool in this sector. Increasing inclination of major pharmaceutical companies towards outsourcing to avoid hurdles and rising research and development expenditure are the factors driving the growth of market.
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It is expected to grow from USD 7.52 Billion in 2016 to USD 18.15 Billion by 2024, at a CAGR of 11.64% between 2017 and 2024.
Report includes assessment of market definition along with the identification of key players and analysis of their strategies, complete quantitative analysis of the industry from 2016 to 2024 to enable the stakeholders to capitalize on the prevailing market opportunities, market analysis and comprehensive segmentation with respect to the process, drug type, type, therapeutic area, and geography to assist in strategic business planning.
Increasing demand for outsourcing of analytical testing and clinical trial services are trending the overall Global Market. However, high cost of drug discovery and development will restrain the market growth.
Medicinal Chemistry Segment is anticipated to register highest growth rate in the Drug Discovery Services Market during the forecast period:
Medicinal chemistry segment is expected to dominate the market growth during forecast period, owing to increasing number of drug discovery and developmental activities, and increasing inclination of pharmaceutical companies towards outsourcing.
North America is expected to lead the Drug Discovery Services Market during the forecast period:
North America is anticipated to dominate the market over forecast period. Technologically advanced research platforms existence and early adoption of highly developed technologies and a supportive economic structure in this region will fuel the Drug Discovery Services Market in North America region.
Scope of the Report:
By Process: Target Selection, Target Validation, Hit-To-Lead Identification, Lead Optimization and Candidate Validation
By Therapeutic Area: Oncology, Neurology, Cardiovascular Diseases, Respiratory Disorders, Diabetes and Other Therapeutic Areas
By Drug Type: Small Molecules and Biologics
By Type: Medicinal Chemistry, Biology Services and Drug Metabolism and Pharmacokinetics (DMPK)
By Geography: North America, Europe, Asia Pacific, Middle East, Africa and Latin America
Some of the key players operating in the Drug Discovery Services Market include:
• GE Healthcare
• Albany Molecular Research, Inc. (AMRI)
• Pharmaceutical Product Development, LLC. (Ppd)
• Syngene
• Wuxi Apptec
• Galapagos NV
• Aurigene Discovery Technologies
• Genscript Biotech Corporation
• WIL Research Laboratories LLC
• Covance
• Jubilant Biosys
• Evotec
• Charles River Laboratories International
• Merck
• Thermo Fisher Scientific