The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Small Molecule Drug Discovery Global Market Report 2024, the small molecule drug discovery market is expected to show significant growth in the forecast period.

The small molecule drug discovery market has witnessed robust growth in recent years, with a notable increase from $57.41 billion in 2023 to an anticipated $63.15 billion in 2024, boasting a compound annual growth rate (CAGR) of 10.0%. This growth trajectory can be attributed to various factors, including drug repurposing initiatives, automation, increased R&D investment, regulatory support, and advancements in high-throughput screening.

Anticipated Growth Trajectory

The market is expected to continue its rapid growth, reaching $95.63 billion by 2028, with a CAGR of 10.9%. The forecasted growth is fueled by the emergence of novel therapeutic targets, patient-centric drug discovery, drug-device combination products, real-world evidence utilization, pharmacogenomics integration, and addressing global health challenges.

Chronic Disease Surge Propels Market Growth

– Impact of Chronic Diseases

The surge in chronic diseases globally acts as a significant driver for the small molecule drug discovery market. With conditions such as HIV, cancer, infections, heart disease, and renal disease on the rise, small molecule medications offer cost-effective solutions for chronic disease management.

– Statistical Insights

According to the National Institutes of Health (NIH), the United States is expected to witness a 99.5% increase in the population aged 50 and older with at least one chronic illness by 2050. This demographic shift underscores the importance of small molecule drug discovery in addressing the healthcare needs of aging populations.

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Technological Innovations Drive Market Dynamics

– Embracing Technological Advancements

Technological innovations emerge as a central trend in the small molecule drug discovery market. Companies are focusing on developing new products, such as Dotmatics’ Small Molecule Drug Discovery Solution, which integrates pre-configured workflows and expanded data management capabilities to enhance operational efficiency and accelerate decision-making processes.

Strategic Acquisitions Shape the Landscape

– GSK’s Acquisition of Sierra Oncology

In July 2022, GSK Plc. acquired Sierra Oncology Inc. for $1.9 billion, fortifying its cancer treatment portfolio and innovation pipeline. Sierra Oncology’s expertise in targeted therapeutics complements GSK’s commitment to enhancing patient outcomes and innovation in cancer treatment modalities.

Segmenting the Small Molecule Drug Discovery Market

– By Drug Type

The market is segmented by drug type, including small molecule drugs and biologic drugs, catering to diverse therapeutic needs.

– By Technology

Technological advancements such as high throughput screening, pharmacogenomics, combinatorial chemistry, nanotechnology, and others drive innovation in drug discovery processes.

– By Therapeutic Area

Segmentation by therapeutic area includes oncology, central nervous system, cardiovascular, respiratory, metabolic disorders, gastrointestinal, and other therapeutic areas, addressing a wide spectrum of medical needs.

– By Process/Phase

The market also segments by process/phase, covering target ID or validation, hit generation and selection, lead identification, and lead optimization stages in the drug discovery pipeline.

– By End-User

End-users encompass pharmaceutical companies, contract research organizations, and other stakeholders involved in drug discovery and development processes.

Regional Insights

North America led the small molecule drug discovery market in 2023, with Europe expected to exhibit the fastest growth during the forecast period, highlighting the global nature of drug discovery efforts.

In conclusion, the small molecule drug discovery market thrives on innovation, technological advancements, and strategic collaborations. As companies navigate through evolving healthcare landscapes and rising disease burdens, innovation remains paramount in driving positive patient outcomes and shaping the future of drug discovery.

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