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Market Research Report
Global Drug Discovery Services Market - 2019-2026 |
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| Published by | DataM Intelligence | Product code | 803283 | ||||
| Published | Content info | Delivery time: 1-2 business days |
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| Global Drug Discovery Services Market - 2019-2026 | ||
| Published: December 1, 2019 | Content info: |
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Global Drug Discovery Services Market Overview
Drug discovery services is an efficient way of guide, deliver a drug discovery platform in the field of biotechnology and pharmacology. Drug discovery outsourcing is a complex, lengthy, expensive process and the duration for drug discovery is very high. The process of drug discovery includes docking molecular, drug target identification, drug discovery screening, small molecule screening, library screening, ion channel screening, etc.,. Maximum pharmaceutical use drug discovery services during the clinical examination or final stages of drug discovery so as to focus on other competencies of drug such as marketing, product structuring, process management, and manufacturing.
The global drug discovery services market was worth $XX billion in 2018 and is forecasted to reach $XX billion by 2026, at a CAGR of XX% during the forecast period.
Global Drug Discovery Services Market - Market Dynamics
Increase in outsourcing of research & development and clinical trials of major drugs by major pharmaceutical companies and avaibility of advanced diagnostic procedures at service providors for discovery and development of new drugs and also increase in prevalence of infectious diseases and deadly disease such as ebola, avian flu, seasonal influenza, etc are driving the drug discovery services market and expected to remain high during the forecast period.
According to BioPharma technology, (Contract Research Organisation) in 2018, over past ten years, larger amount of biotech-pharma companies turned into contract research organizations, contract manufacturing organizations and contract development & manufacturing organizations to assist in the preformulation, development, and manufacturing of their latest innovations. Most of the spending by pharmaceutical companies are focused on early development with 1/3rd of annual expenditures in outsourcing, and 90% of spending comes through mid range pharma companies accounting to 75% of the newdrugs pipeline.
According to Aurora Fine chemicals, almost a thousand biotech companies in the USA are pursuing anticancer drug discovery projects, of which over half are concentrated on cancer drug development and cancer treatment.
Major factors hindering the global drug discovery services market are, high cost involved in the research and development of new drugs due to advanced technologies involved in clinical trials and stringent government norms in the usage of animals.
Global Drug Discovery Services Market - Segment Analysis
Global drug discovery services market is segmented by the process, service type, application, and region. The process type is further segmented by profiling & lead optimization, screening, assay development, cell engineering. By service, it includes computational chemistry, medical chemistry, ADME &DMPK, biochemistry. By application is segmented into neurology, metabolic & inflammatory disease, immuno-oncology, and others.
In application, neurology dominates the global drug discovery services market due increase in collaboration between pharmaceutical companies and drug discovery service providers for R&D of a new drug in neuroscience and expected to remain high during the forecast period.
On January 30, 2019, Metrion collaborated with LifeArc on neuroscience-focused ion channel drug discovery project.
Global Drug Discovery Services Market - Geographical Analysis
The global drug discovery services Market is segmented into North America, Europe, Asia Pacific, South America, and Middle East and Africa.
North America dominates the global drug discovery services market due to an increase in the prevalence of chronic diseases and high healthcare expenditure, and it is expected to remain high during the forecast period.
According to the Center Of Disease Control And Prevention in 2017, six in ten Americans live at least one type of chronic disease like heart disease, cancer, stroke, and diabetes.
According to the American Cancer Society in 2018 estimated that 27,000 new cases of breast cancer will be generated in women and 11,000 new cases among children of age group between 0-14 years will be diagnosed in the U.S.
Global Drug Discovery Services Market - Competitive Analysis
New/ advanced drug discovery assisted product launches by major players and mergers & acquisitions between the drug discovery service providers and pharmaceutical companies in research & development of drugs for infectious diseases are driving the global drug discovery services market.
In January 2019, Pfizer collaborated with CytoReadon to use machine learning platform for drug discovery.
In December 2018, Evotec and LEO Pharma formed a drug discovery alliance targeting dermatological conditions.
In November 2018, Evotec merged with Immuneering to develop an artificial intelligence-driven ligand identification for rare hereditary metabolic diseases.
In September 2018, AMRI and Metrion Biosciences collaborated to offer iron channel drug discovery services.
In August 2018, Nemus Biosciences Inc. merged with AMRi to manufacture Cannabinoid-Based API for Glaucoma.
In August 2018, Evotec and Centogene made a strategic collaboration on drug discovery project in rare genetic diseases.
In May 2018, Thermo Fisher Scientific Installed first glacios cyro-electron microscope for drug discovery and development.
In November 2017, Reprocell parent company of Biopta merged with science exchange to increase the accessibility of its predictive drug discovery services.
In May 2017, Domainex merged with Dotmatics to streamline the integrated drug discovery services.
Major market players in Drug Discovery services are Piramal Pharma Solutions, Biopta, Charles River Laboratories International, Domainex, Evotec AG, Albany Molecular Research Inc., GenScript, Pharmaceutical Product Development, LLC (PPD), GE Healthcare, Merck, Syngene International Ltd.
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