Drug discovery can be described as the process of identifying potential new medicines, and it includes a wide range of scientific disciplines, including biology, chemistry, and pharmacology. The process of drug discovery includes several methods such as identification of target molecule, candidate drug identification, characterization, screening, and assays for therapeutic efficacy. Once a candidate compound has shown its therapeutic value in these tests, it will begin the process of drug development before clinical trials. it involves developing new novel antibodies, recombinant proteins, hormones, vaccines, and gene therapy for treating cancer, neurological disorders, cardiovascular disorders, and many others.
According to the research report, ‘Drug Discovery Services Market By Type (Medicinal Chemistry Services, Biology Services, Pharmacokinetics and Drug Metabolism), By Drug Type (Small Molecules, Biologics), By Therapeutic Area (Oncology, Neurological Disorder, Respiratory Disease, Diabetes, Cardiovascular Disease), By Regions (North America, Europe, Asia Pacific, Rest of the World)-Global Forecast up to 2025’, states that The market produces the majority of the revenue from the prime players functioning in this field; some of them are Charles River Laboratories, Evotec SE, GVK Biosciences, Albany Molecular Research Inc., Domainex Ltd., Genscript Biotech Corporation, Syngene International Ltd., Eurofins Scientific SE, and Laboratory Corporation of America Holdings. The report includes company profiling of each player aforementioned based on parameters like a company overview, Production Capacity, Revenue, Key business offerings, financial performance, Risk analysis, Recent developments, and regional presence. Along with this, it also provides insights through different research methodologies like porter five analysis and SWOT analysis. It further reviews how far along the player stands in the competition referring to the intense competition among several players to gain a major share in the market.
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As stated above, the drug discovery services market is classified into different segments. Under the category of Type – the medicinal chemistry services sub-segment is projected for the major share and is foreseen to grow during the forecast period. Similarly, based on therapeutic areas, oncology is expected to maintain its position throughout the forecast period. The study provides exclusive details about the sub-segment for a better understanding of the global drug discovery services market. the study comprises market reports for all the regions mentioned above as well as the countries those regions consist of. Furthermore, the report also provides market trends for the intelligent automation industry both in the present and future.
The research report is equipped with various dimensions such as dynamics of the market, analysis of historical data, and technology development, strategies adopted by the above-named companies, government initiatives toward the drug discovery services, and study of the market size (in terms of value and volume) based on demand and supply, market growth drivers, application details, market features, restraints, regional and industry wise investment opportunities and much more.
In the forthcoming years, the drug discovery services industry will continue to rise and is anticipated to reach a value in terms of revenue of USD million by the end of 2025 at a double-digit CAGR during the review period of 2019-2025. The increasing patient base for various chronic diseases and rising advancements in technologies will improve the status of the drug discovery services market.
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AI for Pharmaceutical Market By Product Type (Software, Services and Hardware); By Technology (Deep Learning, Querying MethodNatural Language Processing and Context aware Processing); By Application (Drug Discovery &Repurposing (Preclinical Phase), Clinical Research Trial, Personalized Medicine and Others); and Region – Analysis of Market Size, Share & Trends for 2018 – 2020 and Forecasts to 2030
Ankur Gupta, Head Marketing & Communications