The Drug Discovery Services Market was valued at USD 22.45 Billion in 2023 and is expected to reach USD 61.93 Billion by 2030 at a CAGR of 15.6% during the forecast period.

Drug Discovery Services Market Overview:

This research aims to offer a comprehensive analysis of the Drug Discovery Services Market by component, application, industry, and region. The main drivers of the Drug Discovery Services Market expansion are covered in great detail in the study. A thorough analysis of the market's value chain is also provided by the study.

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Drug Discovery Services Market Scope:

Primary research is followed by secondary research using sources that gather revenue information from important suppliers in order to evaluate and forecast the Drug Discovery Services Market. Market segmentation is calculated taking into account vendor offerings. Utilizing the revenue of notable businesses, the bottom-up approach was used to determine the Drug Discovery Services Market's overall size.

Drug Discovery Services Market Dynamics:

The Drug Discovery Services market is witnessing dynamic shifts propelled by various factors. Rapid advancements in biotechnology and pharmaceutical research are fueling the demand for drug discovery services. Additionally, the increasing prevalence of chronic diseases necessitates the development of novel therapeutics, thereby driving the growth of this market. Moreover, the escalating costs and complexities associated with in-house drug discovery programs are prompting pharmaceutical companies to outsource these services to specialized providers. Furthermore, technological innovations such as high-throughput screening, combinatorial chemistry, and bioinformatics are revolutionizing the drug discovery process, offering enhanced efficiency and accuracy. These dynamics are fostering a competitive landscape, characterized by collaborations, partnerships, and mergers, as companies strive to strengthen their capabilities and expand their market presence. Overall, the Drug Discovery Services market is poised for significant expansion, driven by evolving industry trends and the imperative to address unmet medical needs.

Drug Discovery Services Market Segmentation:

by Process

Target Selection
Target Validation
Hit-to-Lead identification
Lead Optimization
Candidate Validation

by Type

Medicinal Chemistry
Biology Services
Drug Metabolism and Pharmacokinetics

by Therapeutic Area

Oncology
Neurology
Cardiovascular Diseases
Respiratory Diseases
Diabetes and Other Therapeutic Areas

by End-User

Pharmaceutical & Biotechnology companies
Academic Institutes
Other End Users (small CROs, IVD companies, and clinical laboratories)

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Drug Discovery Services Market Key Players:

The major players covered in the Drug Discovery Services Market report are

1. Thermo Fisher Scientific (US)
2. Merck (US)
3. GE Healthcare (US)
4. Pharmaceutical Product Development, LLC. (Ppd) (US)
5. Covance (US)
6. Genscript Biotech Corporation (US)
7. Laboratory Corporation of America Holdings (US)
8. SRI International (US)
9. BioDuro (US)
10. Cullgen (US)
11. Nanosyn (US)
12. Radyus Research (US)
13. Visikol Inc (US)
14. Aurobindo Pharma (India)
15. Dr. Reddy's Laboratories (India)
16. Jubilant Biosys Ltd. (India)
17. Lupin Pharmaceuticals (India)
18. Sun Pharmaceutical Industries Ltd. (India)
19. Serum Institute of India Pvt. Ltd. (India)
20. Syngene International Limited (India)
21. Piramal Enterprises Ltd (India)
22. Eurofins Advinus Limited (India)
23. Dalton Pharma Services (Canada)
24. Domainex (UK)
25. Selcia Limited (UK)
26. Selvita S.A. (Poland)
27. Wuxi Apptec (China)
28. Viva Biotech (China)
29. SYNthesis Med Chem (Australia)
30. Lonza Group AG (Switzerland)
31. Evotec A.G. (Germany)

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Drug Discovery Services Market Regional Analysis:

Global, North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.

COVID-19 Impact Analysis on Drug Discovery Services Market:

Among the industries impacted by the COVID-19 pandemic are aerospace and defense, agriculture, cars, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance. As the effects of COVID-19 spread, they have had an effect on the Drug Discovery Services Market as a whole as well as the growth rate in 2019 and 2020. The businesses and associations in the Drug Discovery Services industry, which is navigating the COVID-19 emergency to handle risk digitisation jobs in order to convey reliable data and experiences to the CEOs, rely heavily on our latest administration inquiry, opinions, and knowledge.

Key Questions Answered in the Drug Discovery Services Market Report are:

  • Which segment grabbed the largest share in the Drug Discovery Services Market?
  • How was the competitive scenario of the Drug Discovery Services Market in forecast period?
  • Which are the key factors responsible for the Drug Discovery Services Market growth?
  • Which region held the maximum share in the Drug Discovery Services Market by forecast?

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