Market Research Report
Global Drug Discovery Market Forecast 2019-2027
|Published by||Inkwood Research||Product code||607157|
|Published||Content info||167 Pages
Delivery time: 2-3 business days
|Global Drug Discovery Market Forecast 2019-2027|
|Published: August 12, 2019||Content info: 167 Pages||
The global drug discovery market is expected to rise at a CAGR of 8.54% during the forecast period of 2019-2027. In terms of revenue, the global market accounted for $XX million in 2018 and is estimated to reach $83155 million by 2027. The market is primarily driven by factors like rising incidences of chronic diseases across the globe and increasing government funding to various research & development programs.
The global drug discovery market is classified into several segments, such as technology, services, end-users, and drug type. The applications of small molecule drugs in the treatment of chronic disorders is primarily surging the demand for drugs in the market. The rising technological developments and innovations are fueling the drug discovery market at a significant pace. Also, many drug manufacturers, government, and private players are investing in the research & development activities, which further enlarge the global drug discovery market.
North America, Asia-Pacific, Europe and Rest of World are the geographical segments of the drug discovery market. By the end of the forecast period, the North American market is anticipated to account for the lion's share of the global market. The U.S is expected to be one of the major contributors to this region owing to high healthcare spending and growing lifestyle-related diseases. Also, the Asia-Pacific market is predicted to register the fastest growth driven by high investments and growing R&D.
Noted players in the global drug discovery market include AstraZeneca PLC, Pfizer Inc., 3M Company, Antares Pharma, Becton, Dickinson & Company (BD), Eli Lily, Johnson and Johnson, F. Hoffmann-La Roche Ltd., Bayer AG, Boehringer Ingelheim, Novartis, Merck & Co. Inc., Sanofi, and GlaxoSmithKline LLC.