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How Has the Drug Discovery Services Market Grown from 2024 to 2025?
The market size for drug discovery services has seen significant expansion in the past few years. Its growth is forecasted to escalate from $18.27 billion in 2024 to $20.59 billion in 2025, indicating a compound annual growth rate of 12.7%. Several factors are contributing to this growth during the historical period, like a surge in R&D investment, the rise of diseases, governmental financial aid and backing, the advent of contract research organizations (CROs), the shift towards more personalised medicine, and strategies for repurposing drugs.
What Growth Rate Is Anticipated for the Drug Discovery Services Market in the Coming Years?
In the coming years, the market size of drug discovery services is predicted to undergo swift expansion. The market is forecasted to rise to $33.88 billion in 2029, with a compound annual growth rate (CAGR) of 13.3%. Factors contributing to the growth during the forecast period include alterations to the regulatory framework, improvements in drug delivery systems, heightened interest in immunotherapy, a shift towards RNA-based therapeutics, and focus on rare diseases. The forecast period will also witness significant trends such as the use of advanced technologies, growth of biologicals and biopharmaceuticals, the uptake of high-throughput screening, enhancements in virtual screening, and a concentrated effort on regenerative medicine.
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Who Are the Leading Companies 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
What Are the Key Drivers of the Drug Discovery Services Market?
The escalating emphasis on drug discovery trials is anticipated to boost the market for drug discovery services. The life cycle of drug development plays a pivotal role in ensuring the safe and effective administration of drugs. As a result, clinical trials are becoming increasingly significant as a critical ingredient of drug development. Owing to the mounting importance of medical innovation and drug development, the global demand for drug discovery trials is on the rise. For example, according to ClinicalTrials.gov, a platform dedicated to registering clinical trials, the overall count of clinical trials witnessed a jump from 365,000 registered trials in 2021 to 452,604 in May 2023. Consequently, the intensified focus on drug discovery trials will fuel the expansion of the drug discovery services market.
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What Are the Key Market Segments in the Drug Discovery Services Industry?
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
What Are the Latest Trends in the Drug Discovery Services Market?
Leading firms in the drug discovery services market are embracing cutting-edge technologies such as Artificial Intelligence (AI) and Machine Learning (ML) to improve the effectiveness and precision of their drug discovery processes. Both AI and ML are interconnected domains within the broader scope of computer science: AI involves creating computerized systems capable of undertaking tasks that generally require human intelligence, whereas ML is an AI offshoot that delves into the application of algorithms and statistical models, which allow computers to learn from and make predictions or decisions using available data. For example, Eurofins Discovery, a France-based company servicing various industries including the pharmaceutical sector, introduced a novel platform named DiscoveryAI SAFIRE (Suite of ADMET Predictions for In Silico Refinement and Evaluation) in February 2024. This state-of-the-art platform employs Eurofins Discovery’s unique datasets, AI and ML, thereby enhancing the drug discovery process. SAFIRE is engineered to fast track the discovery of new drugs by predicting the ADMET (Absorption, Distribution, Metabolism, Excretion, and Toxicity) features of molecules. This platform draws on the extensive BioPrint database from Eurofins Discovery, which has been carefully assembled through many years of research.
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What Are the Key Regional Markets in the Drug Discovery Services Industry?
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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This Report Delivers Insight On:
1. How big is the drug discovery services market, and how is it changing globally?
2. Who are the major companies in the drug discovery services market, and how are they performing?
3. What are the key opportunities and risks in the drug discovery services market right now?
4. Which products or customer segments are growing the most in the drug discovery services market?
5. What factors are helping or slowing down the growth of the drug discovery services market?
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