This report describes and explains the drug discovery technologies market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global drug discovery technologies market reached a value of nearly $66.07 billion in 2023, having grown at a compound annual growth rate (CAGR) of 9.8% since 2018. The market is expected to grow from $66.07 billion in 2023 to $113.01 billion in 2028 at a rate of 11.3%. The market is then expected to grow at a CAGR of 10.8% from 2028 and reach $188.64 billion in 2033.
Growth in the historic period resulted from the increased pharmaceutical research and development (R&D) expenditure, increase in demand for personalized medicine and favorable government initiatives to accelerate drug discovery research. Factors that negatively affected growth in the historic period include complex and time-consuming regulatory approval processes.
Going forward, the increasing aging population worldwide, rising healthcare expenditure globally, growing incidence of chronic diseases and strong economic growth in emerging markets will drive the market. Factors that could hinder the growth of the drug discovery technologies market in the future include high cost of drug discovery.
The drug discovery technologies market is segmented by technology into high throughput screening, genomics, bioinformatics, combinational chemistry, biochips, bioanalytical instruments and other technologies. The high throughput screening market was the largest segment of the drug discovery technologies market segmented by technology, accounting for 25.1% or $16.58 billion of the total in 2023. Going forward, the genomics segment is expected to be the fastest growing segment in the drug discovery technologies market segmented by technology, at a CAGR of 133% during 2023-2028.
The drug discovery technologies market is segmented by drug type into small molecule drugs and biologic drugs. The small molecule drugs market was the largest segment of the drug discovery technologies market segmented by drug type, accounting for 70.8% or $46.8 billion of the total in 2023. Going forward, the biologic drugs segment is expected to be the fastest growing segment in the drug discovery technologies market segmented by drug type, at a CAGR of 12.5% during 2023-2028.
The drug discovery technologies market is segmented by end-user into pharmaceutical companies, biopharmaceutical companies, biotechnology companies, research institutes and other end-users. The pharmaceutical companies market was the largest segment of the drug discovery technologies market segmented by end-user, accounting for 36.3% or $24.01 billion of the total in 2023. Going forward, the biopharmaceutical companies segment is expected to be the fastest growing segment in the drug discovery technologies market segmented by end-user, at a CAGR of 13.2% during 2023-2028.
The drug discovery technologies market is segmented by disease application into cancer diseases, immunological diseases, neurological diseases, cardiovascular diseases and other disease applications. The cancer diseases market was the largest segment of the drug discovery technologies market segmented by disease application, accounting for 33.8% or $22.35 billion of the total in 2023. Going forward, the cancer diseases segment is expected to be the fastest growing segment in the drug discovery technologies market segmented by disease application, at a CAGR of 12.5% during 2023-2028.
North America was the largest region in the drug discovery technologies market, accounting for 40.5% or $26.75 billion of the total in 2023. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the drug discovery technologies market will be Asia-Pacific and North America, where growth will be at CAGRs of 12.2% and 11.6% respectively. These will be followed by Western Europe and South America, where the markets are expected to grow at CAGRs of 11.2% and 9.6% respectively.
The global drug discovery technologies market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 26.61% of the total market in 2022. AstraZeneca plc. was the largest competitor with a 5.73% share of the market, followed by Merck KGaA with 3.79%, GlaxoSmithKline Plc with 2.98%, Pfizer Inc. with 2.92%, Thermo Fisher Scientific with 2.18%, Waters Corporation with 2.16%, Bio-Rad Laboratories with 2.04%, GE Healthcare Ltd. with 1.95%, Novartis AG with 1.79% and Bruker Corporation with 1.07%.
The top opportunities in the drug discovery technologies market segmented by technology will arise in the high throughput screening segment, which will gain $13.1 billion of global annual sales by 2028. The top opportunities in the drug discovery technologies market segmented by drug type will arise in the small molecule drugs segment, which will gain $31.56 billion of global annual sales by 2028. The top opportunities in the drug discovery technologies market segmented by end-user will arise in the pharmaceutical companies segment, which will gain $15.25 billion of global annual sales by 2028. The top opportunities in the drug discovery technologies market segmented by disease application will arise in the cancer diseases segment, which will gain $17.96 billion of global annual sales by 2028. The drug discovery technologies market size will gain the most in the USA at $16.58 billion.
Market-trend-based strategies for the drug discovery technologies market include focus on advanced technologies to accelerate drug development, introduction of intelligent robotics labs to expand AI-driven drug discovery efforts, introduction of intelligent robotics labs to expand ai-driven drug discovery efforts and strategic partnerships and collaborations among major players.
Player-adopted strategies in the drug discovery technologies market include focus on advancing healthcare innovation by leveraging digital technology, leveraging advanced AI technologies through strategic collaborations to accelerate and enhance the discovery and development of drugs, leveraging strategic collaborations to enhance drug discovery and accelerate the development of novel therapeutics across multiple disease areas, accelerating innovation in cancer drug discovery and development through strategic collaborations and expanding access to advanced diagnostic technologies in underserved regions through strategic partnerships.
To take advantage of the opportunities, the analyst recommends the drug discovery technologies companies to focus on innovative solutions to drive market differentiation, focus of embracing AI-driven robotics labs for accelerated drug discovery, focus on high throughput screening segment, expand in emerging markets, expand in emerging markets, focus on strategic investment in innovative drug discovery technologies, focus on strategic partnerships for enhanced drug discovery, focus on expanding distribution channels for drug discovery technologies, provide competitively priced offerings, focus on developing pricing strategies for drug discovery technologies, participate in trade shows and events, continue to use B2B promotions, prioritize thought leadership and educational content, focus on targeting disease-specific expertise in people strategies and focus on targeting disease-specific expertise across end-user segments.
The global drug discovery technologies market reached a value of nearly $66.07 billion in 2023, having grown at a compound annual growth rate (CAGR) of 9.8% since 2018. The market is expected to grow from $66.07 billion in 2023 to $113.01 billion in 2028 at a rate of 11.3%. The market is then expected to grow at a CAGR of 10.8% from 2028 and reach $188.64 billion in 2033.
Growth in the historic period resulted from the increased pharmaceutical research and development (R&D) expenditure, increase in demand for personalized medicine and favorable government initiatives to accelerate drug discovery research. Factors that negatively affected growth in the historic period include complex and time-consuming regulatory approval processes.
Going forward, the increasing aging population worldwide, rising healthcare expenditure globally, growing incidence of chronic diseases and strong economic growth in emerging markets will drive the market. Factors that could hinder the growth of the drug discovery technologies market in the future include high cost of drug discovery.
The drug discovery technologies market is segmented by technology into high throughput screening, genomics, bioinformatics, combinational chemistry, biochips, bioanalytical instruments and other technologies. The high throughput screening market was the largest segment of the drug discovery technologies market segmented by technology, accounting for 25.1% or $16.58 billion of the total in 2023. Going forward, the genomics segment is expected to be the fastest growing segment in the drug discovery technologies market segmented by technology, at a CAGR of 133% during 2023-2028.
The drug discovery technologies market is segmented by drug type into small molecule drugs and biologic drugs. The small molecule drugs market was the largest segment of the drug discovery technologies market segmented by drug type, accounting for 70.8% or $46.8 billion of the total in 2023. Going forward, the biologic drugs segment is expected to be the fastest growing segment in the drug discovery technologies market segmented by drug type, at a CAGR of 12.5% during 2023-2028.
The drug discovery technologies market is segmented by end-user into pharmaceutical companies, biopharmaceutical companies, biotechnology companies, research institutes and other end-users. The pharmaceutical companies market was the largest segment of the drug discovery technologies market segmented by end-user, accounting for 36.3% or $24.01 billion of the total in 2023. Going forward, the biopharmaceutical companies segment is expected to be the fastest growing segment in the drug discovery technologies market segmented by end-user, at a CAGR of 13.2% during 2023-2028.
The drug discovery technologies market is segmented by disease application into cancer diseases, immunological diseases, neurological diseases, cardiovascular diseases and other disease applications. The cancer diseases market was the largest segment of the drug discovery technologies market segmented by disease application, accounting for 33.8% or $22.35 billion of the total in 2023. Going forward, the cancer diseases segment is expected to be the fastest growing segment in the drug discovery technologies market segmented by disease application, at a CAGR of 12.5% during 2023-2028.
North America was the largest region in the drug discovery technologies market, accounting for 40.5% or $26.75 billion of the total in 2023. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the drug discovery technologies market will be Asia-Pacific and North America, where growth will be at CAGRs of 12.2% and 11.6% respectively. These will be followed by Western Europe and South America, where the markets are expected to grow at CAGRs of 11.2% and 9.6% respectively.
The global drug discovery technologies market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 26.61% of the total market in 2022. AstraZeneca plc. was the largest competitor with a 5.73% share of the market, followed by Merck KGaA with 3.79%, GlaxoSmithKline Plc with 2.98%, Pfizer Inc. with 2.92%, Thermo Fisher Scientific with 2.18%, Waters Corporation with 2.16%, Bio-Rad Laboratories with 2.04%, GE Healthcare Ltd. with 1.95%, Novartis AG with 1.79% and Bruker Corporation with 1.07%.
The top opportunities in the drug discovery technologies market segmented by technology will arise in the high throughput screening segment, which will gain $13.1 billion of global annual sales by 2028. The top opportunities in the drug discovery technologies market segmented by drug type will arise in the small molecule drugs segment, which will gain $31.56 billion of global annual sales by 2028. The top opportunities in the drug discovery technologies market segmented by end-user will arise in the pharmaceutical companies segment, which will gain $15.25 billion of global annual sales by 2028. The top opportunities in the drug discovery technologies market segmented by disease application will arise in the cancer diseases segment, which will gain $17.96 billion of global annual sales by 2028. The drug discovery technologies market size will gain the most in the USA at $16.58 billion.
Market-trend-based strategies for the drug discovery technologies market include focus on advanced technologies to accelerate drug development, introduction of intelligent robotics labs to expand AI-driven drug discovery efforts, introduction of intelligent robotics labs to expand ai-driven drug discovery efforts and strategic partnerships and collaborations among major players.
Player-adopted strategies in the drug discovery technologies market include focus on advancing healthcare innovation by leveraging digital technology, leveraging advanced AI technologies through strategic collaborations to accelerate and enhance the discovery and development of drugs, leveraging strategic collaborations to enhance drug discovery and accelerate the development of novel therapeutics across multiple disease areas, accelerating innovation in cancer drug discovery and development through strategic collaborations and expanding access to advanced diagnostic technologies in underserved regions through strategic partnerships.
To take advantage of the opportunities, the analyst recommends the drug discovery technologies companies to focus on innovative solutions to drive market differentiation, focus of embracing AI-driven robotics labs for accelerated drug discovery, focus on high throughput screening segment, expand in emerging markets, expand in emerging markets, focus on strategic investment in innovative drug discovery technologies, focus on strategic partnerships for enhanced drug discovery, focus on expanding distribution channels for drug discovery technologies, provide competitively priced offerings, focus on developing pricing strategies for drug discovery technologies, participate in trade shows and events, continue to use B2B promotions, prioritize thought leadership and educational content, focus on targeting disease-specific expertise in people strategies and focus on targeting disease-specific expertise across end-user segments.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Drug Discovery Technologies Market - Macro Economic Scenario
9 Global Market Size and Growth
10 Global Drug Discovery Technologies Market Segmentation
11 Drug Discovery Technologies Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
20 Other Major and Innovative Companies
23 Key Mergers and Acquisitions
24 Opportunities and Strategies
25 Drug Discovery Technologies Market, Conclusions and Recommendations
26 Appendix
Executive Summary
Drug Discovery Technologies Global Market Opportunities and Strategies to 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global drug discovery technologies market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for drug discovery technologies? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The drug discovery technologies market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider drug discovery technologies market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by technology, by drug type, by disease application and by end-user.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario - The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the drug discovery technologies market.
- Global Market Size and Growth - Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis - Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by technology, by drug type, by disease application and by end-user in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth - Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities and Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations - This section includes recommendations for drug discovery technologies providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) by Technology: High Throughput Screening; Genomics; Bioinformatics; Combinational Chemistry; Biochips; Bioanalytical Instruments; Other Technologies2) by Drug Type: Small Molecule Drugs; Biologic Drugs
3) by End-User: Pharmaceutical Companies; Biopharmaceutical Companies; Biotechnology Companies; Research Institutes; Other End-Users
4) by Disease Application: Cancer Diseases; Immunological Diseases; Neurological Diseases; Cardiovascular Diseases; Other Disease Applications
Key Companies Mentioned: AstraZeneca plc.; Merck KGaA; GlaxoSmithKline Plc; Pfizer Inc.; Thermo Fisher Scientific
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; drug discovery technologies indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- AstraZeneca plc.
- Merck KGaA
- GlaxoSmithKline Plc
- Pfizer Inc.
- Thermo Fisher Scientific
- Waters Corporation
- Bio-Rad Laboratories
- GE Healthcare Ltd.
- Novartis AG
- Bruker Corporation
- HitGen Inc.
- Ascentage Pharma
- WuXi AppTec
- XtalPi Inc.
- Jiangsu Hengrui Pharmaceuticals Co., Ltd.
- Insilico Medicine
- Adagene
- BioDuro-Sundia
- X-Chem
- Aurigene Pharmaceutical Services
- Fujitsu Limited
- Aragen Life Sciences Private Limited
- Novo Nordisk A/S
- Merck Group
- F. Hoffmann-La Roche AG
- Dassault Systemes SA
- Evotec SE
- Sygnature Discovery Ltd.
- ChemAxon Ltd.
- BenevolentAI
- Gedeon Richter Plc
- Nuritas, Ltd
- EXSCIENTIA AI LIMITED
- Axon Neuroscience
- Selvita S.A
- Dotmatics inc.
- Bayer AG
- CytoReason
- GE HealthCare Technologies Inc.
- Agilent Technologies Inc.
- Charles River Laboratories International Inc.
- Curia Global Inc.
- Luminex Corporation
- BioXcel Therapeutics Inc.
- Biominas Brasil
- Aché Laboratórios Farmacêuticos S.A.
- BIOGENESIS BAGO S.A.
- INDEAR
- Merck Peruana S.A.
- Meton AI
- NUVISAN
- Danio Biotechnologies
- InsilicAll
- Quasar Bio
- Sanofi
- Eli Lilly
- AbbVie
- Eurofins Scientific
- bioMérieux SA
- Smiths Medical
- Johnson & Johnson
- Aspen Pharmacare Eisai Co., Ltd.
- Cape Bio Pharms
- iThemba Pharmaceuticals
- Adcock Ingram Holdings Ltd
- Medisell Co. Ltd
- Ranbaxy Laboratories Ltd
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 339 |
Published | July 2024 |
Forecast Period | 2021 - 2031 |
Estimated Market Value ( USD | $ 66.07 Billion |
Forecasted Market Value ( USD | $ 188.64 Billion |
Compound Annual Growth Rate | 11.1% |
Regions Covered | Global |
No. of Companies Mentioned | 67 |