Market Research Report
Global Drug Discovery Market Research and Forecast 2018-2023
|Published by||Orion Market Research Pvt Ltd||Product code||637942|
Delivery time: 2-3 business days
|Global Drug Discovery Market Research and Forecast 2018-2023|
|Published: April 18, 2018||Content info:||
Global Drug discovery Market is an efficient way to discover new drugs and medications in the field of biotechnology and pharmacology. The process of drug discovery is carried out in four stages: target identification, target validation, high speed screening, and lead optimization. One of the major factors augmenting the growth of the market includes increasing geriatric population coupled with the rising prevalence of health disorders and chronic diseases such as genetic disorders, nervous system disorders, diabetes, and cardiovascular diseases. According to the genesis foundation for children in 2017, 1 in every 33 children in the US is born with an intellectual or genetic disorder. It is estimated that about 120,000 babies in the US are affected each year.
The factors contributing to the growth of the market include increasing prevalence of chronic diseases such as genetic disorders, cancer, diabetes, cardiovascular diseases and many more. Apart from this, increased healthcare expenditure and patent expiries of other drugs is accelerating the growth of the market. Patents for brand drug expire every year, enabling the development for alternatives to enter the market, contributing significantly to the growth of the market. Moreover, technological advancements in biotechnology and genomics is a major factor, due to which the market will witness lucrative growth during the forecast period.
Geographically, the market is divided into North America, Europe, Asia Pacific and Rest of the World. North America is growing at a very significant rate followed by Europe. The reason for this is the presence of key industry players, increased healthcare expenditure, and technological development. Moreover, APAC region is anticipated to be the fastest developing regional markets during the forecast period due to increasing demand for novel drug discovery technologies owing to increasing population in the region.
The companies contributing to the growth of global genetic testing market are Abbott Laboratories Roche Diagnostics, Merck & Co., Pfizer, and Johnson & Johnson. Majority of key players are merging or collaborating with other companies to gain a competitive edge over others and enhance their presence.
The market study of drug discovery market is incorporated by extensive primary and secondary research conducted by research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The OMR team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. The numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analysts to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts to get first-hand information. Primary research brings authenticity to our reports. Secondary sources include:
The report is intended for hospitals, diagnostic centers, and government organizations for overall market analysis and competitive analysis. The report provides in-depth analysis on pricing, market size, intended quality of the product preferred by consumers. The report will serve as a source for 360-degree analysis of the market, thoroughly integrating different models such as PEST analysis, porter five analysis delivering insights into the market for better business decisions.