The Global Drug Discovery Market size was valued at US$ 74.96 billion in 2022 and is expected to be worth around US$ 161.76 billion by 2030, growing at a CAGR of 8.9% from 2022 to 2030.  The global drug discovery market refers to the process of identifying and developing new pharmaceutical products. It includes various stages such as target identification, lead generation, lead optimization, preclinical testing, and clinical trials.

The growth of the market can be attributed to factors such as the increasing prevalence of chronic diseases, rising demand for personalized medicine, advancements in technology, and increasing investments in research and development.

Browse 215 market data Tables and 96 Figures spread through 312 Pages and in-depth TOC on "Drug Discovery Market Size, Share & Trends Estimation Report By Outlook, By Region, And Segment Forecasts, 2022 - 2030" View detailed Table of Content here-https://www.contrivedatuminsights.com/product-report/drug-discovery-market-248704/

The pharmaceutical industry is dominated by large companies such as Pfizer, Novartis, and Roche, but there are also many small and mid-sized companies that specialize in drug discovery. The industry is highly competitive, and companies must constantly innovate to stay ahead.

Market Dynamics

Increasing prevalence of chronic diseases: There has been a significant increase in the prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases, which has led to an increasing demand for new and innovative treatments. The drug discovery market is focused on developing new therapies to address these diseases.

Advancements in technology: The development of new technologies such as high-throughput screening, bioinformatics, and artificial intelligence has enabled drug discovery companies to identify and analyze potential drug targets more efficiently and effectively.

High costs and long development timelines: The drug discovery process is a lengthy and expensive process, with an average cost of over $2.6 billion and taking over 10 years from discovery to approval. This can be a major barrier to entry for smaller companies and startups.

High failure rates: The success rate for developing a new drug from discovery to approval is low, with only a small percentage of drugs that enter clinical trials ultimately receiving approval. This can lead to significant financial losses for drug discovery companies.

Target identification: Identifying suitable targets for drug discovery is a complex and challenging process, and the failure to identify appropriate targets can lead to the development of ineffective drugs. Developing drugs that are both safe and effective is a major challenge, as many drugs fail due to toxicity or lack of efficacy.

Personalized medicine: The development of personalized medicine, which involves tailoring treatments to individual patients based on their genetic makeup, lifestyle, and other factors, is a promising area for drug discovery. Personalized medicine has the potential to improve patient outcomes and reduce healthcare costs.

Emerging markets: There is a growing demand for new and innovative drugs in emerging markets, particularly in Asia and Latin America. Drug discovery companies can capitalize on these opportunities by developing drugs that are tailored to the needs of these markets.

The drug discovery process involves a significant amount of time and money, and the success rate for bringing a new drug to market is low. However, the potential rewards are high, and successful drugs can generate billions of dollars in revenue for pharmaceutical companies.

Biologics are large, complex molecules that are derived from living organisms or their products. They are typically produced using recombinant DNA technology or other biotechnology processes. Biologics include monoclonal antibodies, vaccines, and recombinant proteins. Biologics can be used to treat a wide range of diseases, including autoimmune diseases, cancer, and rare genetic disorders.

The "others" category includes drugs that do not fit into the small molecule or biologics categories, such as gene therapy, cell therapy, and RNA-based drugs. These therapies are often used to treat rare diseases or conditions that are difficult to treat using traditional small molecule drugs or biologics.

CROs are specialized companies that provide drug discovery services to pharmaceutical and biotechnology companies. These companies provide a range of services, including preclinical research, clinical trials, and regulatory affairs.

Regional Analysis

Academic and research institutes are also important end users of drug discovery services. These institutions conduct basic research into the underlying mechanisms of disease, which can lead to the discovery of new drug targets. They also often collaborate with pharmaceutical and biotechnology companies to develop new drugs.

The Asia Pacific region is the fastest-growing market for drug discovery, driven by the presence of a large patient population and increasing investment in research and development. Countries such as China, Japan, and India are major contributors to the Asia Pacific drug discovery market.

Latin America is a growing market for drug discovery, driven by the increasing prevalence of chronic diseases and the growing focus on research and development in the region. Brazil, Mexico, and Argentina are the major contributors to the Latin America drug discovery market.

The Middle East & Africa region is a small but growing market for drug discovery. The increasing prevalence of chronic diseases and the growing focus on healthcare infrastructure development are driving growth in this region.

Competitive Analysis

In October 2021, Thermo Fisher Scientific acquired PPD, Inc., a leading contract research organization, for $17.4 billion. This acquisition will strengthen Thermo Fisher Scientific's position in the drug discovery market by expanding its capabilities in clinical research and development.

In July 2021, Vertex Pharmaceuticals announced a $900 million investment in CRISPR Therapeutics to develop gene-editing therapies for genetic diseases. This partnership will focus on the development of therapies for sickle cell disease and beta-thalassemia.

In April 2021, AstraZeneca announced that it would acquire Alexion Pharmaceuticals for $39 billion. This acquisition will strengthen AstraZeneca's position in the immunology market by adding Alexion's rare disease portfolio.

In March 2021, Eli Lilly and Company announced a $1.04 billion investment in Prevail Therapeutics to develop gene therapies for neurodegenerative diseases. This partnership will focus on the development of therapies for Parkinson's disease and other neurodegenerative disorders.

In January 2021, Novo Nordisk acquired Emisphere Technologies, a drug delivery company, for $1.35 billion. This acquisition will enable Novo Nordisk to develop new oral formulations of its diabetes and obesity drugs.

Segmentation Analysis of The Global Drug Discovery Market 2022-2030

The report forecasts revenue growth at global, regional, and country matrics and analyzes the latest industry trends in each of the sub-segments ranging from 2016-2030. For this, CDI has segmented the global Drug Discovery market report based on capacity, vehicle, application, and propulsion type along with regional analysis.

Workflow Outlook (Revenue, USD Million, 2017 - 2030)

• Target Identification & Screening
• Target Validation & Functional Informatics
• Lead Identification & Candidate Optimization
• Preclinical Development
• Other Associated Workflow

Therapeutics Area Outlook (Revenue, USD Million, 2017 - 2030)

• Respiratory System
• Pain and Anesthesia
• Oncology
• Ophthalmology
• Hematology
• Cardiovascular
• Endocrine
• Gastrointestinal
• Immunomodulation
• Anti-infective
• Central Nervous System
• Dermatology
• Genitourinary System

Drug Type Outlook (Revenue, USD Million, 2017 - 2030)

• Small Molecules
• Large Molecules (Biopharmaceuticals)

Type Outlook (Revenue, USD Million, 2017 - 2030)

• Chemistry Services
• Biology Services

End-User Outlook (Revenue, USD Million, 2017 - 2030)

• Pharmaceutical & Biotechnology companies
• Academic Institutes
• Others

Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Nordic Countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America