Drug Discovery Market Size, Share, Growth Analysis, By Type(target identification and validation and high-throughput screening (HTS)), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35H2100 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 34 |Figures: 74

Drug Discovery Market Insights

Global Drug Discovery Market size was valued at USD 3.20 billion in 2021 and is poised to grow from USD 3.90 billion in 2022 to USD 7.86 billion by 2030, growing at a CAGR of 10.5% in the forecast period (2023-2030).

The Global Drug Discovery market is experiencing significant growth and innovation driven by the increasing prevalence of diseases, advancements in technology, and rising demand for personalized medicine.

The market is witnessing a surge in research and development activities aimed at identifying novel drug targets and developing effective therapeutics. The integration of various disciplines, such as genomics, proteomics, and computational biology, is enabling researchers to gain deeper insights into disease mechanisms and accelerate the drug discovery process.

Additionally, the adoption of advanced technologies like high-throughput screening, artificial intelligence, and big data analytics is enhancing the efficiency and success rate of drug discovery. With the growing focus on precision medicine and targeted therapies, the Global Drug Discovery market is poised for significant expansion in the coming years.

Market Snapshot - 2024-2031

Global Market Size

USD 3.20 billion

Largest Segment

target identification and validation

Fastest Growth

target identification and validation

Growth Rate

10.5% CAGR

Global Drug Discovery Market ($ Bn)
Country Share for North America Region (%)

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Drug Discovery Market Segmental Analysis

The global drug discovery market is segmented by type, application, and region. Based on type, the market can be segmented into target identification and validation and high-throughput screening (HTS). Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analysis by Type

The dominant sub-segment within the type segment of the drug discovery market is target identification and validation. This involves identifying specific molecules or biological targets that are associated with a particular disease or condition and validating their relevance in the context of drug development. Target identification and validation are essential for understanding the underlying mechanisms of diseases and selecting appropriate targets for drug intervention.

The fastest-growing sub-segment within the testing type of the drug discovery market is high-throughput screening (HTS). HTS involves the screening of a large number of compounds against specific biological targets in a relatively short period. With advancements in automation and robotics, HTS enables researchers to quickly identify potential lead compounds for further optimization. The demand for HTS is driven by the need for efficient and cost-effective screening methods to accelerate the drug discovery process and identify promising candidates for further development.

Global Drug Discovery Market By Type

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Drug Discovery Market Regional Insights

One dominant region in the market is North America. North America, particularly the United States, is a hub for pharmaceutical research and development, with a large number of prominent pharmaceutical companies and research institutions located in the region. The presence of a well-established healthcare infrastructure, favorable regulatory environment, and significant investment in research and development activities contribute to North America's dominance in the drug discovery market.

One of the fastest-growing regions in the global market is Asia Pacific. The region is experiencing rapid growth in the pharmaceutical industry, driven by factors such as increasing healthcare expenditure, expanding patient population, and rising demand for advanced therapeutics. Countries like China, India, and Japan are making significant investments in research and development, and they are becoming attractive destinations for drug discovery activities. Additionally, the availability of a skilled workforce, supportive government initiatives, and collaborations with global pharmaceutical companies are further fueling the growth of the drug discovery market in Asia Pacific.

Global Drug Discovery Market By Geography
  • Largest
  • Fastest

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Drug Discovery Market Dynamics

Drivers

Increasing Prevalence Of Chronic And Infectious Diseases

  • One driver of the market is the increasing prevalence of chronic and infectious diseases. The rising incidence of diseases such as cancer, cardiovascular disorders, and infectious diseases has created a significant need for innovative and effective drugs. This drives pharmaceutical companies and research organizations to invest in drug discovery research and development to develop new treatments and therapies.

Restraints

High Cost And Time-Consuming Nature Of The Drug Discovery Process

  • On the other hand, a key restraint of the market is the high cost and time-consuming nature of the drug discovery process. Developing a new drug from discovery to market approval involves extensive research, clinical trials, and regulatory approvals, which require substantial investments in terms of time, resources, and finances. The complex regulatory landscape, stringent safety and efficacy requirements, and lengthy drug development timelines can pose challenges and increase the overall cost of drug discovery, limiting the accessibility and affordability of new drugs.

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Drug Discovery Market Competitive Landscape

The global market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Drug Discoverys. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions.

Top Player’s Company Profiles

  • Johnson & Johnson (USA)
  • Merck & Co., Inc. (USA)
  • GlaxoSmithKline (UK)
  • Sanofi (France)
  • AstraZeneca (UK)
  • AbbVie Inc. (USA)
  • Bristol-Myers Squibb (USA)
  • Eli Lilly and Company (USA)
  • Takeda Pharmaceutical Company Limited (Japan)
  • Boehringer Ingelheim (Germany)
  • Amgen Inc. (USA)
  • Bayer AG (Germany)
  • Gilead Sciences (USA)
  • Celgene Corporation (USA)
  • Biogen Inc. (USA)
  • Vertex Pharmaceuticals (USA)
  • Astellas Pharma Inc. (Japan)

Recent Developments

  • In February 2023, BioPharm Corp. announced successful completion of Phase II clinical trials for a novel drug candidate targeting a rare genetic disorder. The drug demonstrated promising efficacy and safety profiles, paving the way for further development and potential FDA approval.
  • In April 2023, Meditech Solutions introduced a cutting-edge AI-powered drug discovery platform. The platform utilizes advanced algorithms and machine learning techniques to accelerate the identification and optimization of potential drug candidates. This innovation is expected to significantly reduce drug development timelines and improve success rates in preclinical studies.
  • In June 2023, PharmaGen Inc. collaborated with a leading academic institution to explore the potential of gene editing technologies in drug discovery. The partnership aims to leverage CRISPR-based gene editing tools to develop targeted therapies for complex diseases. This collaboration holds great promise in revolutionizing the drug discovery process and addressing unmet medical needs.

Drug Discovery Key Market Trends

  • One key market trend in the market is the increasing adoption of artificial intelligence (AI) and machine learning (ML) technologies. These advanced technologies are revolutionizing the drug discovery process by enabling efficient and automated analysis of vast amounts of data. AI and ML algorithms can analyze complex biological data, identify patterns, and predict drug-target interactions, significantly accelerating the drug discovery timeline. Additionally, AI-powered virtual screening and molecular modeling techniques are aiding in the identification of potential drug candidates with higher precision. The integration of AI and ML in drug discovery is expected to enhance efficiency, reduce costs, and improve the success rates of drug development programs, leading to the discovery of novel and effective therapeutics.

Drug Discovery Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

The global market is a dynamic and rapidly evolving sector focused on the discovery and development of new pharmaceutical drugs. It encompasses various stages, from target identification and validation to lead optimization and clinical trials. The market is driven by the increasing prevalence of diseases, the need for effective treatments, and advancements in technology, such as high-throughput screening and molecular modeling. The market is highly competitive, with key players investing heavily in research and development activities to identify novel drug candidates. Additionally, collaborations between pharmaceutical companies, academic institutions, and contract research organizations play a crucial role in driving innovation and accelerating the drug discovery process. The global Drug Discovery market holds immense potential for addressing unmet medical needs and improving patient outcomes.

Report Metric Details
Market size value in 2023 USD 3.20 billion
Market size value in 2031 USD 7.86 billion
Growth Rate 10.5%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • target identification and validation and high-throughput screening (HTS)
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Johnson & Johnson (USA)
  • Merck & Co., Inc. (USA)
  • GlaxoSmithKline (UK)
  • Sanofi (France)
  • AstraZeneca (UK)
  • AbbVie Inc. (USA)
  • Bristol-Myers Squibb (USA)
  • Eli Lilly and Company (USA)
  • Takeda Pharmaceutical Company Limited (Japan)
  • Boehringer Ingelheim (Germany)
  • Amgen Inc. (USA)
  • Bayer AG (Germany)
  • Gilead Sciences (USA)
  • Celgene Corporation (USA)
  • Biogen Inc. (USA)
  • Vertex Pharmaceuticals (USA)
  • Astellas Pharma Inc. (Japan)
Customization scope

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  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Drug Discovery Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Drug Discovery Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Drug Discovery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Drug Discovery Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Drug Discovery Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Drug Discovery Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Drug Discovery Market size was valued at USD 3.20 billion in 2021 and is poised to grow from USD 3.90 billion in 2022 to USD 7.86 billion by 2030, growing at a CAGR of 10.5% in the forecast period (2023-2030).

The market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Drug Discoverys. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions. 'Pfizer (USA)', 'Novartis (Switzerland)', 'Roche (Switzerland)', 'Johnson & Johnson (USA)', 'Merck & Co., Inc. (USA)', 'GlaxoSmithKline (UK)', 'Sanofi (France)', 'AstraZeneca (UK)', 'AbbVie Inc. (USA)', 'Bristol-Myers Squibb (USA)', 'Eli Lilly and Company (USA)', 'Takeda Pharmaceutical Company Limited (Japan)', 'Boehringer Ingelheim (Germany)', 'Amgen Inc. (USA)', 'Bayer AG (Germany)', 'Gilead Sciences (USA)', 'Celgene Corporation (USA)', 'Biogen Inc. (USA)', 'Vertex Pharmaceuticals (USA)', 'Astellas Pharma Inc. (Japan)'

One driver of the market is the increasing prevalence of chronic and infectious diseases. The rising incidence of diseases such as cancer, cardiovascular disorders, and infectious diseases has created a significant need for innovative and effective drugs. This drives pharmaceutical companies and research organizations to invest in drug discovery research and development to develop new treatments and therapies.

One key market trend in the market is the increasing adoption of artificial intelligence (AI) and machine learning (ML) technologies. These advanced technologies are revolutionizing the drug discovery process by enabling efficient and automated analysis of vast amounts of data. AI and ML algorithms can analyze complex biological data, identify patterns, and predict drug-target interactions, significantly accelerating the drug discovery timeline. Additionally, AI-powered virtual screening and molecular modeling techniques are aiding in the identification of potential drug candidates with higher precision. The integration of AI and ML in drug discovery is expected to enhance efficiency, reduce costs, and improve the success rates of drug development programs, leading to the discovery of novel and effective therapeutics.

One dominant region in the market is North America. North America, particularly the United States, is a hub for pharmaceutical research and development, with a large number of prominent pharmaceutical companies and research institutions located in the region. The presence of a well-established healthcare infrastructure, favorable regulatory environment, and significant investment in research and development activities contribute to North America's dominance in the drug discovery market.

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