2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

What Factors Are Propelling the Market Growth of theDrug Discovery Market from 2025 to 2034?

The anticipated increase in healthcare spending is predicted to spur the growth of the drug discovery market. A significant proportion of worldwide GDP is dedicated to healthcare costs, encompassing hospital care, physician and clinic services, assorted professional services, dentistry, other health, residential and personal care, at-home healthcare, nursing facility costs, continuing care retirement communities, prescription medication, and more. The discovery of new drugs is an important component of healthcare spending, as these novel treatments are necessary to combat diseases and extend life expectancy. There is a growing demand for the development of new medications to address emerging diseases. For instance, data from the Centers for Medicare and Medicaid Services, an American federal agency, revealed that in 2024, national health expenditure rose by 4.1% to $4.5 trillion in 2022, equal to $13,493 per individual, between 2023-32. It was also projected that the average national health expenditure growth (5.6%) will surpass the average GDP growth (4.3%), leading to a rise in the proportion of health spending in relation to GDP from 17.3% in 2022 to 19.7% in 2032. Hence, the increase in healthcare costs is fuelling the expansion of the drug discovery market.

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#How Does the ProjectedDrug Discovery Market Growth Compare Over the Forecast Period?

In recent times, the market size of drug discovery has witnessed a significant increase. By 2025, it is projected to expand from its 2024 value of $110.26 billion to a substantial $125.23 billion, translating to a compound annual growth rate (CAGR) of 13.6%. Factors like advancements in the fields of genomics and proteomics, a rising incidence of chronic diseases, and the emergence of biopharmaceuticals have contributed to this growth in the historical period.

The market size of drug discovery is predicted to experience swift expansion in the upcoming years, with projections indicating that it will reach $221.71 billion in 2029, growing at a compound annual growth rate (CAGR) of 15.3%. This surge during the forecast period is linked to the uptake of precision medicine, focus on treating rare diseases, and development of personalized therapies. Forecast trends comprise collaborative models for drug discovery, heightened focus on rare diseases and orphan drugs, incorporation of multi-omics data, swift adoption of organoids and 3D cell culture models, and progress in virtual screening.

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How Are Market Trends and Innovations Revolutionizing theDrug Discovery Industry in Recent Times?

One of the major tendencies in the drug discovery market is the rise of technological innovation. To shorten the duration of drug discovery, corporations in this sector are introducing unique technologies such as AI, imaging technology and more. The introduction of imaging technology allows for non-invasive viewing, characterization, and quantification of biological processes within organisms reacting to pharmaceuticals. Techniques that leverage the attributes of probes or the tissue itself are essential for understanding diseases and paving the way for new therapies. A case in point, Google Cloud unveiled two AI-empowered tools in May 2023, the Target and Lead Identification Suite and the Multiomics Suite, aimed at speeding up drug discovery and precision medicine. These instruments are intended to support biotech and pharmaceutical firms in progressing drug discovery and precision medicine. The Target and Lead Identification Suite aids in determining the function of amino acids and proteins, while the Multiomics Suite fast-tracks the revelation and interpretation of genomic data, thereby assisting in the formulation of precision treatments.

Which Key Market Players Are Shaping the Future and Growth of theDrug Discovery Market?

Major companies operating in the drug discovery market include Pfizer Inc., Merck & Co. Inc., Novartis International AG, Thermo Fisher Scientific Inc., WuXi AppTec Group, GlaxoSmithKline plc, Eli Lilly and Company, Laboratory Corporation of America Holdings, Evotec SE, Eurofins Scientific SE, Agilent Technologies Inc., Sanofi S.A., Charles River Laboratories International Inc., Pharmaron Ltd., Viva Biotech Ltd., Albany Molecular Research Inc., Schrödinger Inc., BioDuro Ltd., Aptuit LLC, Selvita S.A., Sygnature Discovery Limited, Jubilant Biosys Limited, Gero Limited, Domainex Ltd., Verge Genomics lnc., Aqemia SAS, BenevolentAI Limited, EPIVAX INC., ProteinQure lnc., Synlogic Inc., ChemPartner Co. Ltd., WuXi Biologics lnc., Abzena plc, Lonza Group Ltd., Catalent lnc., Recursion Pharmaceuticals Inc.

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What Are the Core Segments of the Drug Discovery Market, and How Do They Contribute to Growth?

The drug discovery market covered in this report is segmented –

1) By Drug Type: Small Molecule, Large Molecule

2) By Process: Target Selection, Target Validation, Hit-To-Lead Identification, Lead Optimization, Candidate Validation

3) By Technology: High Throughput Screening, Spectroscopy, Combinatorial Chemistry, Biochips, Pharmacogenomics And Pharmacogenetics, Bioinformatics, Metabolomics, Nanotechnology, Other Technologies

4) By Therapeutic Area: Oncology, Neurology, Infectious And Immune System Diseases, Digestive System Diseases, Cardiovascular Diseases, Diabetes, Respiratory Disease, Other Therapeutic Areas

5) By End User: Pharmaceutical Companies, CROs, Other End-Users

Subsegments:

1) By Small Molecule: Synthetic Small Molecules, Natural Small Molecules, Targeted Small Molecule Drugs

2) By Large Molecule: Monoclonal Antibodies, Proteins And Peptides, Nucleic Acid-Based Therapies

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What Regions Are Dominating the Drug Discovery Market Growth?

North America was the largest region in the drug discovery market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the drug discovery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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