Drug Discovery 서비스 시장 : 프로세스별, 유형별, 약물 유형별, 치료 분야별, 지역별(2024-2031년)

Drug Discovery Services Market Valuation - 2024-2031

The growing trend of outsourcing by pharmaceutical companies to decrease costs associated with research and development and speed up time-to-market for new pharmaceuticals, along with the growing need for innovative therapies and biotechnology breakthroughs, are driving the drug discovery services market. According to the analyst from Verified Market Research, the drug discovery services market is estimated to reach a valuation of USD 28.71 Billion over the forecast subjugating around USD 12.82 Billion valued in 2024.

The rapid developments in genomics and proteomics, together with increased spending in pharmaceutical R&D, are driving the drug discovery services market, as is the requirement for specialized knowledge in drug development procedures. It enables the market to grow at aCAGR of 11.70% from 2024 to 2031.

Drug Discovery Services Market: Definition/ Overview

Drug discovery services are the outsourced research and development activities performed by specialist contract research organizations (CROs) to identify and develop new pharmaceutical compounds. These services encompass a wide range of operations, including target identification, assay development, high-throughput screening, hit-to-lead optimization, and clinical testing.

Furthermore, drug discovery services have a wide range of applications, including accelerating the development of new medications, providing access to advanced technologies and expertise, improving the efficiency of drug research processes, and significantly lowering the costs and time required to bring new drugs to market. These services are critical for pharmaceutical companies looking to streamline their R&D efforts, reduce risks, and focus on core strengths while harnessing the specialized skills and resources of CROs.

What's inside a VMR industry report?

Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.

How will Increase in R&D Investments Drive the Growth of the Market?

The pharmaceutical industry's rising commitment to R&D, backed by significant investments, is a primary driver. These investments are intended to develop innovative therapeutics to treat unmet medical needs, particularly in oncology and neurology. The increased global frequency of chronic diseases needs ongoing innovation, prompting pharmaceutical companies to outsource portions of their drug discovery services to specialist service providers, therefore increasing efficiency and innovation.

Technological improvements in high-throughput screening, bioinformatics, and genomics are driving the drug discovery services market. These technologies enable the rapid screening of large chemical libraries at cheaper prices and faster rates than existing approaches. Furthermore, AI and machine learning are becoming increasingly important in predicting drug behavior, optimizing drug design, and identifying viable therapeutic candidates, thus decreasing the time and cost associated with drug development phases.

Furthermore, big pharma and biotech businesses are increasingly leveraging CROs' specialized knowledge and advanced technology through strategic cooperation and outsourcing. Outsourcing drug discovery enables businesses to focus on core capabilities, effectively control costs, and reduce time to market for new treatments. This method is especially important for smaller biotech companies that lack the internal resources to perform large-scale drug development activities.

What are the Primary Challenges Impacting the Drug Discovery Services Market?

Drug discovery is an expensive and high-risk enterprise, with the development of a new treatment frequently costing billions of dollars and taking more than a decade. The failure rate is particularly high in the early phases, discouraging investment and putting the project's financial viability at risk. These expenses and hazards are especially onerous for smaller businesses that lack the financial resources of larger pharmaceutical enterprises.

Furthermore, protecting intellectual property (IP) is critical in the competitive world of drug discovery. However, managing IP rights is difficult, especially when numerous partners are involved, as is common in outsourced drug research projects. Conflicts over intellectual property ownership and patent rights may arise, resulting in legal issues and impeding the development and commercialization of novel drugs.

Category-Wise Acumens

What are the Factors Supporting the Dominance of Small Molecules in the Market?

According to VMR analysis, the small molecules segment is estimated to hold the largest market share in the drug type segment during the forecast period. Small-molecule drugs are typically less expensive to manufacture and scale than biologics. They can be generated in huge quantities using chemical procedures, making them more easily produced and distributed. Because of their low cost, small molecules are especially appealing to pharmaceutical businesses seeking to optimize their return on investment.

Small molecules have a lengthy history in the pharmaceutical industry, thus there are well-established regulatory channels for their development and approval. This familiarity streamlines medication discovery, decreases regulatory approval uncertainty, and shortens time-to-market, making them a popular choice among pharmaceutical corporations.

Furthermore, small molecules easily permeate cells and influence a wide range of biological targets, making them useful for treating a variety of disorders, both chronic and acute. This broad applicability bolsters ongoing research and development efforts, allowing them to maintain their lead in the drug discovery services market.

How does Oncology Propel the Growth of the Drug Discovery Services Market?

The oncology segment is estimated to dominate the drug discovery services market during the forecast period. The global rise in cancer incidence is a significant motivator for the emphasis on oncology in drug discovery. As cancer remains the biggest cause of death worldwide, there is a strong desire for novel and more effective cancer treatments. This need encourages pharmaceutical companies and research organizations to engage extensively in oncology research, resulting in the growth of this market segment.

The evolution of precision medicine, particularly in oncology, has had a substantial impact on medication discovery. Advances in genetic sequencing and molecular diagnostics enable more precise and individualized cancer treatments. This emphasis on unique patient profiles and tumor genetics has moved drug research efforts toward more personalized solutions, improving the efficacy and success rates of oncology drugs.

Furthermore, oncology has one of the most extensive drug development pipelines in all therapeutic fields. The continual discovery of new targets and routes for cancer treatment drives continued research and development. Also, the high likelihood of market approval and commercial success for oncology medications encourages investment in this sector, reinforcing its market share domination in drug discovery services.

Country/Region-wise Acumens

How Does the Rising Biopharmaceutical Sector Drive the Market in the Asia Pacific?

According to VMR analyst, North America is estimated to dominate the drug discovery services market during the forecast period. North America has a highly developed biopharmaceutical sector, with the United States dominating in terms of innovation, drug development, and market approvals. This region is home to several of the world's leading pharmaceutical and biotech companies, which continue to invest in medication discovery and development. This climate promotes robust R&D activity, attracting large investments and partnerships to propel the market ahead.

Furthermore, the presence of advanced research infrastructures, such as world-class universities, research institutes, and cutting-edge laboratories, facilitates large-scale drug development initiatives. North America receives major government and private financing for therapeutic research in fields such as oncology, neurology, and cardiovascular disease, which is crucial to the continued discovery of new drugs.

What are the Primary Factors Driving the Drug Discovery Services in Asia Pacific?

The Asia Pacific region is estimated to exhibit the highest growth within the drug discovery services market during the forecast period. Many countries in the Asia-Pacific region are experiencing rapid economic growth and higher healthcare spending. As these economies flourish, more resources are directed toward healthcare, including investments in innovative medical treatments and research centers. This economic development promotes the growth of the pharmaceutical and biotechnology sectors, increasing demand for drug discovery services.

Furthermore, the Asia Pacific region is experiencing an increase in the prevalence of chronic diseases such as diabetes, cardiovascular disease, and cancer, which is being driven by changing lifestyles and an aging population. This increase in disease prevalence is driving up the need for innovative and effective treatment medications, strengthening the regional drug discovery services market.

Competitive Landscape

The competitive landscape of the drug discovery services market is characterized by a wide range of vendors providing specialized services at various stages of the drug development pipeline. Furthermore, there is a growing trend toward customization and tailored service models to meet the individual needs of clients, which adds to the competitiveness.

Some of the prominent players operating in the drug discovery services market include:

Abbott Laboratories, Inc.

Advinus Therapeutics

Agilent Technologies Ubiquigent

Albany Molecular Research, Inc.

AstraZeneca PLC

Aurigene

Bayer AG

Charles River Laboratories International

ChemBridge Corporation

Covance

Latest Developments

In February 2023, Charles River Laboratories signed a multi-program agreement with Pioneering Medicines, a Flagship Pioneering (US) initiative, to use its Logica Al platform for small-molecule drug discovery.

In February 2023, Evotec SE and Related Sciences signed a multi-target drug discovery deal. The two firms sought to choose, research, and develop precisely targeted medications to address unmet patient needs.

In January 2023, Charles River Laboratories purchased SAMDI Tech, Inc., which provides label-free HTS solutions for drug discovery research. The acquisition provided CRL with experience in label-free HTS MS platforms and resulted in a broad library of drug discovery options.

TABLE OF CONTENTS

1 INTRODUCTION OF DRUG DISCOVERY SERVICES MARKET

• 1.1 Overview of the Market
• 1.2 Scope of Report
• 1.3 Assumptions

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH

• 3.1 Data Mining
• 3.2 Validation
• 3.3 Primary Interviews
• 3.4 List of Data Sources

4 DRUG DISCOVERY SERVICES MARKET OUTLOOK

• 4.1 Overview
• 4.2 Market Dynamics
  • 4.2.1 Drivers
  • 4.2.2 Restraints
  • 4.2.3 Opportunities
• 4.3 Porters Five Force Model
• 4.4 Value Chain Analysis

5 DRUG DISCOVERY SERVICES MARKET, BY PROCESS

• 5.1 Overview
• 5.2 Target Selection
• 5.3 Target Validation
• 5.4 Hit-To-Lead Identification
• 5.5 Lead Optimization
• 5.6 Candidate Validation

6 DRUG DISCOVERY SERVICES MARKET, BY TYPE

• 6.1 Overview
• 6.2 Medicinal Chemistry Services
• 6.3 Biology Services
• 6.4 Drug Metabolism and Pharmacokinetics (DMPK)
• 6.5 Market, by Drug Type
• 6.6 Small- molecule Drugs
• 6.7 Biologic Drugs

7 GLOBAL DRUG DISCOVERY MARKET, BY DRUG TYPE

• 7.1 Overview
• 7.2 Small Molecule Drugs
• 7.3 Biologic Drugs

8 DRUG DISCOVERY SERVICES MARKET, BY THERAPEUTIC AREA

• 8.1 Overview
• 8.2 Oncology
• 8.3 Neurology
• 8.4 Infectious and Immune System Diseases
• 8.5 Digestive System Diseases
• 8.6 Cardiovascular Diseases
• 8.7 Other Therapeutic Areas

9 DRUG DISCOVERY SERVICES MARKET, BY GEOGRAPHY

• 9.1 Overview
• 9.2 North America
  • 9.2.1 U.S.
  • 9.2.2 Canada
  • 9.2.3 Mexico
• 9.3 Europe
  • 9.3.1 Germany
  • 9.3.2 U.K.
  • 9.3.3 France
  • 9.3.4 Rest of Europe
• 9.4 Asia Pacific
  • 9.4.1 China
  • 9.4.2 Japan
  • 9.4.3 India
  • 9.4.4 Rest of Asia Pacific
• 9.5 Rest of the World
  • 9.5.1 Latin America
  • 9.5.2 Middle East

10 DRUG DISCOVERY SERVICES MARKET COMPETITIVE LANDSCAPE

• 10.1 Overview
• 10.2 Company Market Ranking
• 10.3 Key Development Strategies

11 COMPANY PROFILES

• 11.1 Abbott Laboratories Inc.
  • 11.1.1 Overview
  • 11.1.2 Financial Performance
  • 11.1.3 Product Outlook
  • 11.1.4 Key Developments
• 11.2 Advinus Therapeutics
  • 11.2.1 Overview
  • 11.2.2 Financial Performance
  • 11.2.3 Product Outlook
  • 11.2.4 Key Developments
• 11.3 Agilent Technologies Ubiquigent
  • 11.3.1 Overview
  • 11.3.2 Financial Performance
  • 11.3.3 Product Outlook
  • 11.3.4 Key Developments
• 11.4 Albany Molecular Research Inc.
  • 11.4.1 Overview
  • 11.4.2 Financial Performance
  • 11.4.3 Product Outlook
  • 11.4.4 Key Developments
• 11.5 AstraZeneca PLC
  • 11.5.1 Overview
  • 11.5.2 Financial Performance
  • 11.5.3 Product Outlook
  • 11.5.4 Key Developments
• 11.6 Aurigene
  • 11.6.1 Overview
  • 11.6.2 Financial Performance
  • 11.6.3 Product Outlook
  • 11.6.4 Key Developments
• 11.7 Bayer AG
  • 11.7.1 Overview
  • 11.7.2 Financial Performance
  • 11.7.3 Product Outlook
  • 11.7.4 Key Developments
• 11.8 Charles River Laboratories International
  • 11.8.1 Overview
  • 11.8.2 Financial Performance
  • 11.8.3 Product Outlook
  • 11.8.4 Key Developments
• 11.9 ChemBridge Corporation
  • 11.9.1 Overview
  • 11.9.2 Financial Performance
  • 11.9.3 Product Outlook
  • 11.9.4 Key Developments
• 11.10 Covance
  • 11.10.1 Overview
  • 11.10.2 Financial Performance
  • 11.10.3 Product Outlook
  • 11.10.4 Key Developments

12 Appendix

• 12.1 Related Research