About Drug Discovery Technologies
Drug Discovery refers to identification of new drug for specific diseases. In the recent past, drug discovery was enhanced with emerging technology such as NMR, chemotherapy, mass spectrometry, micro plate readers. Pharmaceuticals and biotech industry collaboration will help to boost global drug discovery technology market. Drug discovery technologies are used for the research as well as launch of new drugs. Rising use of therapeutics in various diseases has created the requirement for drug discovery.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 9.96% |
“The FDA’s Center for Drug Evaluation and Research, or CDER, is the specific body within the FDA that is involved with reviewing the new drug development process. The CDER has in-depth understanding of the science used to create new products, testing processes and manufacturing procedures, and the diseases and conditions that are sought to be treated by new products. The CDER provides the scientific and regulatory advice needed to bring new products to market. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Drug Discovery Technologies market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Agilent Technologies, Inc. (United States), Abbott Laboratories, Inc. (United States), GE Healthcare Ltd. (United States), Albany Molecular Research Inc. (United States), Affymetrix Inc. (United States), Arqule Inc. (United States), Luminex Corporation (United States), Bayer Healthcare AG (Germany), Novartis AG (Switzerland), Astrazeneca plc (United Kingdom) and Caliper Life Sciences (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Celera Corp (United States), Charles River Laboratories International (United States), Evotec Ag (Germany) and Thermo Fisher Scientific Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Drug Discovery Technologies market by and Region.
On the basis of geography, the market of Drug Discovery Technologies has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Technology, the sub-segment i.e. Biochips will boost the Drug Discovery Technologies market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Pharmaceutical Companies will boost the Drug Discovery Technologies market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancement Using Artificial Intelligence and Pharmaceuticals Enhancement in Various Diseases
Market Growth Drivers:
Rising Number of Chronical Diseases and Technological Enhancement in Molecular Biology, Biotechnology, Genomics and Nanotechnology
Challenges:
Growing Risk of Drug Failure and Lack of Advanced Healthcare Facilities in the Low and Middle Income Group Countries
Restraints:
High Investment in Drug Discovery Technology and Needed Long Time
Opportunities:
Increase Technological Innovation in Drug Discovery Technology and Rising Demand of Small Molecule Drugs for Treating Chronic Diseases
Market Leaders and their expansionary development strategies
In August 2018, Agilent Technologies Inc. has acquired Young In Scientific Co. Ltd. a leading Provider of analytical and scientific instruments in South Korea.
In January 2018, Merck has launched Zinplava (bezlotoxumab) in the United Kingdom. It is new treatment for the deterrence of Clostridium difficile infection (CDI) in adults at high risk for recurrence of CDI.
In United States, According to the FDA, “Accelerated approval is given to some new drugs for serious and life-threatening illnesses that lack satisfactory treatments. This allows an NDA (new drug application) to be approved before measures of effectiveness that would usually be required for approval are available.”
Key Target Audience
Drug Discovery Service Provider, Pharmaceuticals Industries, Medical Research Centre, Medical Institutes, Private Research Agencies, Government Research Agencies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.