Analysis of Drug Discovery Technologies market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
As of 2022, the global drug discovery technologies market accounts for a revenue of US$ 59 billion, which is expected to increase to US$ 81.5 billion by the end of 2026. This is because worldwide demand for drug discovery technologies is anticipated to surge at a CAGR of 8.4% from 2022 to 2026.
The China drug discovery technologies market is projected to reach US$ 12 billion by 2026, expanding at a stellar CAGR of around 10% over the forecast period.
Drug Discovery Technologies Market Size (2022)
US$ 59 Billion
Projected Market Value (2026F)
US$ 81.5 Billion
Global Market Growth Rate (2022-2026)
China Market Value (2026F)
US$ 12 Billion
United States Market Value (2022)
US$ 17 Billion
Germany Market Growth Rate (2022-2026)
Key Companies Profiled
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Rising focus on healthcare has resulted in increased consumption of pharmaceutical drugs and has created high demand for these medications across the world. This demand is supplemented by the prevalence of chronic diseases and subsequently propels the drug discovery technologies market potential.
Increasing investments in R&D activities, supportive government initiatives to promote drug development, growing incidence of chronic illnesses, and rapid technological advancements are expected to be major factors that positively influence the drug discovery technologies market growth throughout the forecast period.
The aforementioned factors are also expected to supplement the demand for drug discovery services through 2026. However, high costs and the presence of strict regulatory laws for drug development are expected to have a hampering effect on the overall demand for drug discovery technologies over the next four years.
The drug discovery technologies market, from 2022 to 2026, is slated to exhibit evolution at a high CAGR of 8.4%.
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“Rising Incidence of Chronic Illnesses across the World”
Over the past few years, the world has witnessed a notable increase in the incidence of chronic diseases and this has led to heightened demand for drugs and subsequently uplifted the drug discovery technologies market potential.
The prevalence of chronic diseases is projected to increase across the forecast period as well and is expected to prominently favor drug discovery technologies market growth.
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“Technological Advancements Resulting in Better Drug Discovery Opportunities”
Drug development is a crucial and time-consuming process that is being revolutionized by the use of advanced technologies.
Advancements in technologies are now creating more efficient drug discovery platforms that fast-track the drug development cycle and enable drug manufacturers to create effective drugs in a shorter period than conventional methods.
“High Costs & Long Duration of Drug Discovery Process”
The drug discovery process involves a lot of time and capital investment which makes it an expensive process to carry out and this is anticipated to be the major factor that hinders overall drug discovery technologies market growth over the coming years.
Moreover, stringent regulatory mandates regarding drug development in various regions are also projected to have a restraining effect on the overall drug discovery technologies market potential through 2026.
“Start-ups Can Focus on Expanding their Research Scope through New Funding”
Aspiring market players can focus on innovations in drug discovery technology to create a market presence for themselves. Blockchain in drug discovery is expected to be a popular trend that start-ups could focus on as digitization picks up pace across the world.
The AI drug discovery industry is expected to provide lucrative opportunities for new drug discovery technology providers over the years as the use of artificial intelligence in drug development becomes mainstream.
“Drug Discovery Technologies Market Majorly Driven by North America”
The market for drug discovery technologies in North America is anticipated to be the most lucrative one in the global landscape owing to high research and development activity in this region.
High spending on pharmaceuticals in this region is expected to further bolster the drug discovery technologies market potential in this region across the forecast period. The United States is expected to head drug discovery technologies market growth for this region through 2026. Automation in drug discovery is anticipated to emerge as a popular trend over the coming years in North America.
Increasing collaborations and mergers by drug discovery platform providers in the region of Europe are anticipated to favor drug discovery technologies market growth in the region throughout the forecast period. Germany drug discovery technologies market is projected to witness expansion at a CAGR of around 7% over the years to come. Other notable markets in Europe are expected to be France, Italy, and the United Kingdom.
Asia Pacific region is anticipated to exhibit highly lucrative opportunities for drug manufacturers and drug manufacturers owing to less stringent mandates for drug development and supportive initiatives to boost research and development activities in this region. The region is also expected to be lucrative for the drug discovery outsourcing market through 2026.
Increasing focus on healthcare and the rising prevalence of chronic diseases in this region is expected to further propel drug discovery technologies market growth through 2026. China and India are anticipated to be the leading markets to watch out for in this region throughout the forecast period.
This new drug discovery technologies market research report by analysts at Fact.MR, a market research and competitive intelligence provider has a detailed account of all trends impacting drug development on a regional as well as global level through 2026.
“Rising Investments in R&D of Novel Drugs”
The market for drug discovery technologies in the United States is projected to be a highly opportunistic one for drug discovery companies owing to the rising demand for novel drugs and supportive government initiatives to boost research and development activities.
Fast drug approval and the presence of key drug development organizations in the country are also expected to favor drug discovery technologies market potential over the coming years. DNA technology in drug development is expected to increase in popularity in the country over the coming years.
At present, the United States drug discovery technologies market accounts for a revenue total of US$ 17 billion.
“Biologic Drugs Projected to Lead Overall Market Growth”
The global drug discovery technologies market based on drug type is segmented into small molecule drugs and biologic drugs.
The biologic drugs segment is anticipated to account for a major market share going forward owing to the increasing adoption of biologics in drug development. Target specificity of biologics is a major factor that is predicted to drive the growth of the biologic drugs segment over the coming years.
Other benefits such as fewer side effects, potential to cure diseases, and potent action are also expected to favor demand for biologic drugs across the forecast period. Small molecule drugs are projected to witness a steady rise in demand as advancements for their development pick up pace through 2026.
Companies in the drug discovery technologies market are expected to focus on launching new solutions to enhance drug discovery and drug development.
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Currently, the global drug discovery technologies market is valued at US$ 59 billion.
The drug discovery technologies market is projected to reach US$ 81.5 billion by 2026.
Demand for drug discovery technologies is slated to rise at 8.4% CAGR.
Thermo Fisher Scientific Inc., Merck KGaA, Albany Molecular Research, Celera Corp, Charles River Laboratories International, Molecular Discovery Ltd., Bio-Rad Laboratories, Caliper Life Sciences, Evotec Ag, and Gyros AbIncyte Corp are key market players.
The U.S. drug discovery technologies market is valued at US$ 17 billion.
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