The global drug discovery market is growing at a considerable CAGR of 13.5% during the forecast period. Rising pervasiveness related to disorders that are lifestyle-oriented and growing demand for novel technology of drug discovery is the prime factors affecting and driving the market. Increasing expenditure in sector of health along with growing patent expires of other drug is also estimated to be the key factors that are contributing significantly towards the growth of the market. However, strict rules and regulations along with high investment cost are major factors constraints that are hindering the growth of the global drug discovery market across the globe.
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The market is segmented based on type, and end user. Based on type, the market is segmented into pharmacogenomics, high throughput screening, genomics, bioinformatics, biochips and nanotechnology. Further, by end user it is segmented into, pharmaceutical companies, biopharmaceutical companies, biotech companies and research institutes.
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Further, growing advancements in biotechnology and genomics along with extensive R&D for new pipeline products are the key factors that are creating opportunities for the market. New product launches in the market are likely to drive the growth of the global drug discovery market. For instance, in July 2020, F. Hoffmann-La Roche Ltd. had started managing research for COVID-19 in order to get potential drug for its treatment. The company is also doing partnership with healthcare provider, various laboratories along with organization in order to carry out this effectively.
Global Drug Discovery Market – Segmentation
by Type
Pharmacogenomics
High Throughput Screening
Genomics
Bioinformatics
Biochips
Nanotechnology
by End User
Pharmaceutical Companies
Biopharmaceutical Companies
Biotech Companies
Research Institutes
Global Drug Discovery Market – Segmentation by Region
North America
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Company Profiles
Abbott
Albany Molecular Research Inc
Bayer AG
Bio-Rad Laboratories, Inc.
Boehringer Ingelheim International GmbH.
Charles River Laboratories
EVOTEC
F. Hoffmann-La Roche Ltd.
GlaxoSmithKline plc.
Incyte
Johnson& Johnson Services, Inc.
Lilly
Mesa Labs, Inc.
Merck & Co.
Myriad Genetics, Inc.
Pfizer Inc.
PPD Inc.
PerkinElmer Inc.
Sanofi
Thermo Fisher Scientific Inc.
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