Drug Discovery Technologies Global Market Report 2024

The drug discovery technologies market size has grown rapidly in recent years. It will grow from $66.08 billion in 2023 to $72.87 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth observed in the historical period can be attributed to the expansion of genomic and proteomic research, heightened comprehension of molecular biology, the growth of combinatorial chemistry, the adoption of bioinformatics and computational approaches, and the emergence of targeted therapies.

The drug discovery technologies market size is expected to see rapid growth in the next few years. It will grow to $108.31 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The anticipated growth in the forecast period can be attributed to the adoption of CRISPR for gene editing, the expansion of precision medicine approaches, the application of omics technologies in drug development, the utilization of quantum computing in drug discovery, and the rise of patient-derived xenograft (PDX) models. Key trends in the forecast period include advancements in high-throughput screening, the development of automated laboratory equipment, collaboration between academic and industry research, technological advances in imaging and microscopy, the integration of artificial intelligence in drug discovery, 3D cell culture technologies, the adoption of machine learning in drug design, collaboration between pharmaceutical companies and tech startups, and the integration of blockchain for data security.

The anticipated increase in the prevalence of acute and chronic diseases is poised to drive the drug discovery technologies market in the future. Chronic diseases, which persist for a year or more and necessitate ongoing medical attention, have witnessed numerous innovative treatments through advancements in drug discovery technologies and drug development. The incorporation of emerging technologies such as digital health tools, artificial intelligence (AI), and machine learning in the drug research and development (R&D) process presents opportunities to overcome critical barriers and streamline clinical trials for prevalent chronic diseases. As of May 2023, according to The United Nations (UN), chronic diseases accounted for seven out of 10 deaths in the US, resulting in over 1.7 million annual fatalities. Hence, the escalating prevalence of acute and chronic diseases is expected to be a driving force for the drug discovery technologies market.

The increase in healthcare expenditures is anticipated to propel the growth of the drug discovery technologies market. Healthcare expenditures encompass all costs associated with providing health services, family planning activities, nutrition programs, and emergency assistance with a focus on health. A surge in healthcare spending supports research and development, fostering the expansion of drug discovery technologies through the funding of advanced technologies and infrastructure. For instance, in December 2023, as reported by the Centers for Medicare & Medicaid Services, US healthcare spending witnessed a 4.1% increase in 2022, reaching $4.5 trillion, or $13,493 per person, constituting 17.3% of the country's gross domestic product. Consequently, the rise in healthcare expenditures is a significant driver for the growth of the drug discovery technologies market.

The emergence of advanced technologies stands out as a prominent trend in the drug discovery technologies market. Major companies in this sector are actively introducing sophisticated technologies to maintain their market positions. In May 2023, Google LLC, a US-based technology company, unveiled the Target and Lead Identification Suite - an AI-based tool designed to expedite drug discovery. This tool aids businesses in anticipating and understanding protein structure, a critical element in drug research, by assisting researchers in ingesting, storing, analyzing, and sharing vast volumes of genetic data. The Suite is anticipated to save considerable time and money in the drug development process, addressing a longstanding challenge in the biopharmaceutical sector.

Major companies operating in the drug discovery technologies market are concentrating on advanced solutions, such as drug research and development platforms, to enhance precision in high-throughput analysis. A drug research and development platform serve as a systematic framework for discovering, designing, testing, and bringing pharmaceutical compounds to market. For example, in July 2023, Dotmatics Inc., a US-based scientific software company focused on research and development, launched the Small Molecule Drug Discovery Solution. This comprehensive platform, equipped with pre-configured workflows and enhanced data management features, aims to foster collaboration, boost productivity, streamline operations, and expedite the transformation of data into actionable insights. This advancement accelerates the development of life-enhancing drug therapies by providing researchers with targeted capabilities and templates for a cohesive workspace spanning hit discovery to lead optimization research.

In August 2021, Bayer AG, a Germany-based pharmaceutical company, completed the acquisition of Vividion Therapeutics for approximately $1.5 billion. This strategic move is intended to provide Bayer with novel approaches for small-molecule drug discovery and access to advanced drug discovery programs focused on inhibitors and activators. Vividion Therapeutics, a US-based biotechnology company, is dedicated to discovering and developing selective small molecule medicines targeting traditionally inaccessible disease targets.

Major companies operating in the drug discovery technologies market report are F. Hoffmann-La Roche AG, Novartis AG, Thermo Fisher Scientific Inc., AstraZeneca plc., Merck KGaA, GE HealthCare Technologies Inc., Agilent Technologies Inc., Dassault Systemes SA, Charles River Laboratories International Inc., Bio-Rad Laboratories Inc., Evotec SE, Curia Global Inc., Aragen Life Sciences Private Limited, Luminex Corporation, BioXcel Therapeutics Inc., Certara Inc., Schrödinger Inc., Sygnature Discovery Ltd., Recursion Pharmaceuticals Inc., InSilico Medicine Inc., ChemAxon Ltd., Enamine Ltd., BenevolentAI Limited, OpenEye Scientific Software Inc., Collaborative Drug Discovery Inc., Pharmacelera S.L., Gyros Protein Technologies AB, Optibrium Ltd., Cresset Group, Relay Therapeutics Inc.

North America was the largest region in the drug discovery technologies market in 2023. The regions covered in the drug discovery technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the drug discovery technologies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary categories of drug discovery technologies include high-throughput screening, genomics, nanotechnology, bioinformatics, combinational chemistry, pharmacogenomics, biochips, bioanalytical instruments, and ribonucleic acid interface (RNAI). High-throughput screening is a method designed to rapidly assess the biological activity of numerous samples, expediting the drug discovery process. These technologies find application in the discovery of drug types such as small molecule drugs and biologic drugs, addressing conditions such as cancer, immunological disorders, neurological ailments, cardiovascular diseases, and others. Pharmaceutical companies, biopharmaceutical companies, biotechnology firms, research institutes, and other entities utilize these technologies for drug discovery purposes.

The drug discovery technologies research report is one of a series of new reports that provides drug discovery technologies market statistics, including the drug discovery technologies global market size, regional shares, competitors with a drug discovery technologies market share, detailed drug discovery technologies market segments, market trends and opportunities, and any further data you may need to thrive in the drug discovery technologies. This drug discovery technologies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The drug discovery technologies market consists of revenues earned by entities by drug screening, predictive analytics, modeling, simulation, and computational capabilities. The market value includes the value of related goods sold by the service provider or included within the service offering. The drug discovery technologies market also includes sales of automation tools, computational chemistry software, imaging software, and mass spectrometers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.