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What Factors Are Driving the Anticipated Growth Rate of the Drug Discovery Services Market Through 2034?

The market size for drug discovery services has been expanding at a fast pace in the past few years. The industry which was valued at $18.27 billion in 2024 is projected to reach $20.59 billion in 2025 at a compound annual growth rate (CAGR) of 12.7%. Factors such as the rise in R&D investments, growing disease prevalence, government backing and assistance, the emergence of contract research organizations (CROs), the shift toward personalized medication, and strategies for repurposing drugs have contributed to the growth witnessed during the historical period.

Expectations indicate that the market size of drug discovery services will experience significant expansion in the coming years, with predictions valuing it at $33.88 billion by 2029. This is backed by a compound annual growth rate (CAGR) of 13.3%. Various factors contribute to this growth during the forecast period, including regulatory reforms, improvements in drug delivery systems, growing interest in immunotherapy, the shift towards RNA-based therapeutics, and the attention given to rare diseases. The period will also be marked by key trends such as the embracement of advanced technologies, growth in biologicals and biopharmaceuticals, widespread adoption of high-throughput screening, breakthroughs in virtual screening, and a keen interest in regenerative medicine.

What External and Internal Drivers Are Contributing to the Growth of the drug discovery services Market’s Growth?

The heightened attention towards drug discovery trials is set to boost the drug discovery services market. The drug development lifecycle plays a crucial role in ensuring secure and efficient drug administration. Consequently, clinical trials are becoming prevalent as they are a crucial part of drug development. The mounting significance of drug development and healthcare innovation has escalated the demand for drug discovery trials globally. For instance, in May 2023, as per ClinicalTrials.gov—a platform that registers clinical trials— the total number of documented clinical trials was 452,604, a rise from the 365,000 trials recorded in 2021. Hence, the intensified focus on drug discovery trials will stimulate the expansion of the drug discovery services market.

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Who Are the Major Industry Leaders Accelerating Growth in the Drug Discovery Services Market?

Major companies operating in the drug discovery services market are:

• Thermo Fisher Scientific Inc._x000D_

• Albany Molecular Research Inc._x000D_

• Charles River Laboratories International Inc._x000D_

• Laboratory Corporation of America Holdings_x000D_

• Domainex Ltd._x000D_

Which Current Trends Are Having the Most Impact on the Drug Discovery Services Market?

Leading enterprises in the drug discovery services sector are embedding cutting-edge technologies like artificial intelligence (AI) and machine learning (ML) to fortify the competency and precision of the pharmaceutical discovery process. Within the realm of computer science, AI and ML are interconnected domains. AI implies the creation of computer systems equipped to carry out tasks normally carried out by human intellect. Contrastingly, ML, an AI offshoot, prioritizes algorithms and statistical models’ deployment to instruct computers to learn, make forecasts, or decisions based on provided data. For instance, in February 2024, Eurofins Discovery, a French firm offering services to diverse industries including pharmaceuticals, launched a novel platform named DiscoveryAI SAFIRE (Suite of ADMET Predictions for In Silico Refinement and Evaluation). This progressive platform employs proprietary datasets, AI, and ML to upgrade the drug discovery process. SAFIRE is developed to accelerate the unearthing of novel pharmaceuticals by forecasting the ADMET (Absorption, Distribution, Metabolism, Excretion, and Toxicity) attributes of molecules. This platform harnesses data from the extensive BioPrint database of Eurofins Discovery, diligently amassed over numerous years of research.

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Which Key Market Segments Comprise the Drug Discovery Services Market and Drive Its Revenue Growth?

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

Which Regions Are Key Players in 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.

What Key Elements Shape the Definition of the Drug Discovery Services Market?

Drug discovery services refer to the procedure for identifying potential new medicines. It combines many scientific disciplines, including biology, chemistry, and pharmacology. These drug discovery services are offered in four stages: early drug discovery, pre-clinical phase, clinical phases, and regulatory approval.

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