Top Growth Trends in the Drug Discovery Market: Key Insights and Opportunities for 2025-2034
Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!
What key factors are powering the surge in the drug discovery market right now?
Over the past few years, there has been a swift expansion in the size of the drug discovery market. The prediction is that it will escalate from $110.26 billion in 2024 to $125.23 billion in 2025, with a compound annual growth rate (CAGR) of 13.6%. The historic growth trend can be traced back to the progress made in genomics and proteomics, increasing occurrence of chronic diseases, and the rise of biopharmaceuticals.
How fast Is the drug discovery market expected to grow, and what’s its future value?
Get your drug discovery market report here!
https://www.thebusinessresearchcompany.com/report/drug-discovery-global-market-report
What are the leading drivers of growth in the drug discovery market?
The projected growth in health spending is likely to significantly spur the market for drug discovery. Multiple countries globally are devoting a large portion of their GDP to healthcare costs, encompassing a wide range of services such as hospital care, dental services, physician and clinical services, residential and individual care, home health care, nursing care facilities, and continuing care retirement communities, alongside prescription medications. Drug discovery represents a substantial component of these healthcare expenditures, given its vital role in disease treatment and life extension. There is an escalating demand for novel drugs to address emerging diseases. For instance, data from the Centers for Medicare and Medicaid Services, a federal agency based in the U.S., revealed that national health spending rose 4.1% to $4.5 trillion in 2022 or $13,493 per individual, across 2023–32, anticipating that average national health expenditure growth (5.6%) will surpass average GDP growth (4.3%). This predicts a surge in the health spending portion of GDP from 17.3 percent in 2022 to 19.7 percent in 2032. Consequently, the upward trajectory of healthcare spending is acting as a catalyst for the expansion of the drug discovery market.
What are the key segments defining the drug discovery market?
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
Get your free sample now – explore exclusive market insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7746&type=smp
Who are the key players steering the development of the drug 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.
What emerging trends are influencing the growth of the drug discovery market?
Drug discovery market is experiencing a significant shift due to technological innovations. New technologies such as artificial intelligence and imaging technology are being brought forward by companies in the sector in a bid to expedite the drug discovery process. The role of imaging technology is pivotal since it provides a non-invasive view of biological activities within organisms in response to drug interventions, therefore aiding in the quantification, characterization, and visualization of these processes. These techniques, that leverage either tissue-specific or probe-based strengths, are indispensable for disease comprehension and designing fresher treatments. A case in point, Google Cloud in May 2023, unveiled two AI-driven tools, the Target and Lead Identification Suite and the Multiomics Suite, with the intent of expediting drug discovery and precision medicine. These tools are meant to support biotech and pharmaceutical industries in progressing their drug discovery and precision medicine efforts. While the Target and Lead Identification Suite aids in understanding the role and functions of proteins and amino acids, the Multiomics Suite fast-tracks the procurement and understanding of genomic data, thereby assisting in the generation of precision treatment plans.
Unlock exclusive market insights – purchase your research report now for a swift delivery!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=7746
Which regions are most influential in expanding the drug discovery market?
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.
Browse Through More Similar Reports By The Business Research Company:
AI In Pharma Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/ai-in-pharma-global-market-report
RNA Analysis/ Transcriptomics Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/rna-analysis-transcriptomics-global-market-report
Research Antibodies and Reagents Global Market Report 2024
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on:
