Drug Discovery Market Scope
Drug discovery refers to the clinical process of new drug development. Drug discovery market has high growth prospects owing to growth in the clinical research industry. Further, the increasing number of patients with chronic diseases such as cardiovascular disease, cancer, diabetics, and others driving the demand for novel drugs. In addition, growing healthcare infrastructure and technological advancement in the drug discovery technologies expected to drive the demand for the drug discovery market over the forecasted period.
According to AMA, the Global Drug Discovery market is expected to see growth rate of 9.81%Market players are focusing on partnership, collaborations, and new product launch in order to increase their offerings in the drug discovery market. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Drug Discovery market throughout the predicted period.
Pfizer Inc. (United States), GlaxoSmithKline PLC (United Kingdom), Abbott Laboratories (United States), Merck & Co. Inc. (United States), Agilent Technologies Inc. (United States), Eli Lilly and Company (United States), Roche Holding AG (Switzerland), Bayer AG (Germany), Caliper Life Sciences (United States), AstraZeneca PLC (United Kingdom), Shimadzu Corp. (Japan), Evotec (Germany), Thermo Fisher Scientific Inc. (United States), Biogen (United States), Bristol-Myers Squibb Company (United States), IQVIA Inc (United States), Piramal Pharma Solutions (India), Domainex (united Kingdom), Takeda Pharmaceutical Company Limited (Japan), Jubilant Pharmova Limited (India) and Viva Biotech (China) are some of the key players that are part of study coverage.
Segmentation Overview
The study have segmented the market of Global Drug Discovery market by Type (Small Molecule Drug and Biologics Drug) and Region with country level break-up.
On the basis of geography, the market of Drug Discovery 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).
Influencing Trend:
Growing Clinical Research Industry and Technological Advancement in the Drug Discovery Techniques
Market Growth Drivers:
Rising Demand for the Biological Drugs and Increasing Prevalence of Chronic Diseases
Challenges:
Lack of Skilled Professionals to Adopt New Drug Discovery Technologies and Lack of Advanced Healthcare Facilities in the Low and Middle Income Group Countries
Restraints:
Stringent Government Regulations Regarding Medicine and Drugs and High Capital Investment for the Drug Discovery Settings
Opportunities:
Rising Demand of Small Molecule Drugs for Treating Chronic Diseases and Increasing Healthcare Expenditure in the Developing Economies
“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.”
Key Target Audience
Healthcare Institutes, Potential Investors, Associations, Organizations, Forums, and Alliances, Government Bodies and Departments, Research Institutes, Business Consulting Firms and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.