Drug Discovery Services Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Opportunity Analysis
The drug discovery services market is expected to grow from US$ 19,539.00 million in 2022 to US$ 56,783.29 million by 2030; it is anticipated to record a CAGR of 14.3% from 2022 to 2030.
The drug discovery services market is divided on the basis of process, type, molecule type, therapeutic area, and end user. Based on the process, the drug discovery services market is segmented into target selection and validation, hit to lead identification, and others – assay development and screening, etc. By type, the drug discovery services market is segmented into biology services, medicinal chemistry drug metabolism, and pharmacokinetics. In terms of molecule type, the drug discovery services market is classified as biologics and small molecules. On the basis of therapeutic areas, the drug discovery services market is differentiated into cardiovascular diseases, oncology, neurology, diabetes, respiratory diseases, and others. Furthermore, the end-user segment is classified into Pharmaceutical and Biotechnology Companies, Academic Institutes, and Others.
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Based on geography, the drug discovery services market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. North America is the most significant contributor to the growth of the drug discovery services market. This region’s growth has been attributed to a number of factors, including an increase in the investments made by drug development companies, large grants from the US government, a strong presence of major drug development companies, a well-developed healthcare infrastructure, and an increase in chronic diseases.
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