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How has the drug discovery services market size evolved in recent years?

In the past few years, there has been a significant growth in the size of the drug discovery services market. The market is expected to expand from $18.27 billion in 2024 to $20.59 billion in 2025, representing a compound annual growth rate (CAGR) of 12.7%. This growth during the historical period is a result of factors such as a rise in R&D investment, an expanding burden of diseases, government backing and financial support, the rise of contract research organizations (CROs), a movement towards personalized medicine, and strategies for drug repurposing.

What are the predictions for the drug discovery services market size in the coming years?

The market size of drug discovery services is predicted to undergo significant expansion in the next few years, reaching a total of $33.88 billion by 2029, with a compound annual growth rate (CAGR) of 13.3%. The anticipated growth within this forecast period can be linked to alterations in regulatory frameworks, progress in drug delivery systems, an enhanced focus on immunotherapy, a shift towards RNA-based therapeutics, and an emphasis on rare diseases. The forecast period is also expected to witness trends such as the adoption of advanced technologies, growth of biologicals and biopharmaceuticals, utilization of high-throughput screening, advances in virtual screening, and focus on regenerative medicine.

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What key factors are fueling the growth of the drug discovery services market?

The drug discovery services market is projected to be spurred by the heightened emphasis on drug discovery trials. The drug development process is vital for the assured delivery of safe and effective medicines. Consequently, clinical trials are becoming increasingly recognized as a crucial element of drug development. As the significance of drug development and innovation in healthcare rises, the demand for drug discovery trials has seen a global surge. For example, in May 2023, ClinicalTrials.gov, a clinical trials registration platform, recorded a total of 452,604 clinical trials for 2023, a rise from the 365,000 trials registered in 2021. Hence, the escalating emphasis on drug discovery trials is set to propel the expansion of the drug discovery services market.

How is the global drug discovery services market divided into key segments?

The drug discovery services market covered in this report is segmented –

1) By Type: Chemistry Services, Biology Services

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

3) By Drug Type: Biologics Drug , Small Molecule Drug

4) By End user: Pharmaceutical And Biotechnology Companies, Academic Institutes, Other End Users

Subsegments:

1) By Chemistry Services: Medicinal Chemistry, Compound Management, High-Throughput Screening, Lead Optimization

2) By Biology Services: In Vitro Studies, In Vivo Studies, Pharmacokinetics And Pharmacodynamics (PK Or PD), Biomarker Discovery

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Who are the key firms paving the way for growth in the drug discovery services market?

Major companies operating in the drug discovery services market are Thermo Fisher Scientific Inc., Albany Molecular Research Inc., Charles River Laboratories International Inc., Laboratory Corporation of America Holdings, Domainex Ltd., GenScript Biotech Corporation, Pharmaceutical Product Development LLC, Advinus Therapeutics Pvt. Ltd., Jubilant Biosys Ltd., Evotec AG, Syngene International Ltd., Bayer AG, Merck KGaA, Ubiquigent Ltd., Eurofins Scientific SE, AppTec Laboratory Services Inc., GVK Biosciences Private Limited, Aurigene Discovery Technologies Limited, Viva Biotech Holdings, Pharmaron Beijing Co. Ltd., Selcia Limited, Concept Life Sciences Group Limited, BioDuro LLC, ChemPartner Corporation, Aptuit LLC, Sygnature Discovery Limited, Peak Proteins Ltd., SRI International, BioAscent Discovery Limited, Sai Life Sciences Limited, Promega Corporation, MedChemExpress LLC, Aragen Bioscience Inc., WuXi STA, BioNTech SE, Moderna Inc., Gilead Sciences Inc., Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals Inc., Amgen Inc., Bristol-Myers Squibb Company

Which trends are expected to transform the drug discovery services market?

Leading firms in the drug discovery services market are pioneering breakthrough technologies like artificial intelligence (AI) and machine learning (ML) to improve both the effectiveness and precision of drug discovery. AI involves designing computer systems that can execute tasks that normally require human cognitive functions. On the other hand, ML, which is a subset of AI, concentrates on the employment of algorithms and statistical models that permit computers to learn from, interpret, and make decisions based on data. For example, Eurofins Discovery, a company from France that offers supportive services to numerous sectors like pharmaceuticals, unveiled an innovative platform named DiscoveryAI SAFIRE (Suite of ADMET Predictions for In Silico Refinement and Evaluation) in February 2024. This groundbreaking platform integrates proprietary datasets, AI, and ML to boost the drug discovery process. SAFIRE is intended to hasten the discovery of novel pharmaceuticals by forecasting the ADMET (Absorption, Distribution, Metabolism, Excretion, and Toxicity) properties of molecules. Furthermore, the platform takes advantage of data from the comprehensive BioPrint database of Eurofins Discovery, which has been carefully assembled over years of exploration.

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What regions are contributing significantly to the growth of the drug discovery services market?

North America was the largest region in the drug discovery services market in 2024. The regions covered in the drug discovery services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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