Global Drug Discovery Services Market

Drug Discovery Services Market Size, Share, Growth Analysis, By Type(Small molecules and Large molecules), By End-User(Pharmaceutical & Biotechnology companies and Academic Institutes), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35J2059 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 59 |Figures: 75

Drug Discovery Services Market Insights

Drug Discovery Services Market size was valued at USD 3.26 billion in 2021 and is poised to grow from USD 3.5 billion in 2022 to USD 6.6 billion by 2030, growing at a CAGR of 7.3% during the forecast period (2023-2030).

The Global Drug Discovery Services Market is a dynamic and rapidly evolving sector within the pharmaceutical and biotechnology industries. It encompasses a wide range of services and solutions aimed at discovering and developing new drugs to address various diseases and medical conditions. Drug discovery is a complex and resource-intensive process that involves the identification and validation of potential drug targets, the development of drug candidates, and rigorous testing for safety and efficacy. This process typically takes several years and requires significant investment in research and development (R&D). To streamline and expedite this process, pharmaceutical and biotechnology companies often seek the assistance of specialized drug discovery service providers. These service providers offer a diverse range of services to support the drug discovery process. They utilize advanced technologies, expertise, and infrastructure to accelerate the identification and optimization of potential drug candidates. These services may include target identification and validation, hit identification and lead optimization, medicinal chemistry, in vitro and in vivo testing, preclinical development, and early-phase clinical trials. In conclusion, the Global market plays a vital role in the drug development process, providing essential support and expertise to pharmaceutical and biotechnology companies. With the increasing demand for innovative therapies and the need for accelerated drug development, this market is expected to experience substantial growth in the coming years.

US Drug Discovery Services Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 3.26 billion

Largest Segment

Pharmaceutical & Biotechnology companies

Fastest Growth

Pharmaceutical & Biotechnology companies

Growth Rate

7.3% CAGR

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

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Drug Discovery Services Market Segmental Analysis

Global Drug Discovery Services Market is segmented by type, end-user, and region. Based on type, the market can be segmented into small molecules and large molecules. Based on end-user, the market is segmented into pharmaceutical & biotechnology companies and academic institutes. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drug Discovery Services Market Analysis by Type

By type, the market can be segmented into small molecules and large molecules. Small molecules segment dominated the market. Small molecules refer to low molecular weight compounds that can easily penetrate cell membranes, making them suitable for targeting intracellular pathways. It holds the largest share of over 77.7%. There are several reasons for the dominance of small molecules in the market. The small molecules segment has been widely utilized in drug discovery for many years. The pharmaceutical industry has extensive experience and expertise in developing small molecule drugs, and they have proven to be effective in treating a wide range of diseases. This familiarity and success have led to the continued dominance of small molecules in the market.

While large molecules segment is experiencing significant growth and is the fastest-growing segment. Large molecules, also known as biologics, are complex molecules derived from living organisms. They include proteins, antibodies, peptides, nucleic acids, and other macromolecules. The growth of large molecules can be attributed to several factors. Firstly, advances in biotechnology and genetic engineering have facilitated the development and production of large molecules. Techniques such as recombinant DNA technology and monoclonal antibody production have revolutionized the field of biologics, leading to the development of novel and highly targeted therapies.

Drug Discovery Services Market Analysis by End-User

By end-user, the market can be segmented into pharmaceutical and biotechnology companies and academic institutes. Pharmaceutical and biotechnology companies segment represent the dominating segment in the Drug Discovery Services market. This segment holds the largest revenue of 79.8%. This is due to many factors. Firstly, these companies have substantial research and development budgets, enabling them to invest in drug discovery services to develop new therapeutic treatments. They have a strong focus on innovation and the development of novel drug candidates, driving the demand for drug discovery services. In addition, pharmaceutical and biotechnology companies possess extensive expertise in drug development and have established partnerships with contract research organizations (CROs) and service providers. These collaborations allow them to leverage the specialized capabilities and resources of drug discovery service providers, resulting in efficient and streamlined drug discovery processes.

Academic institutes are the fastest growing segment in the Global Drug Discovery Services Market. Academic institutions play a crucial role in drug discovery research due to their focus on scientific exploration, innovation, and collaboration. These institutes have highly skilled researchers and scientists who contribute to advancements in drug discovery and development. Academic institutes often collaborate with pharmaceutical companies, government organizations, and other stakeholders to conduct research and development activities. They have access to state-of-the-art facilities, advanced technologies, and government funding, which fuel their research capabilities. This, in turn, drives the growth of drug discovery services in the academic institutes segment.

Global Drug Discovery Services Market By End User, 2023 (%)

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Drug Discovery Services Market Regional Insights

North America dominates the global Drug Discovery Services market. The region holds the largest global revenue share of more than 35.5%. This can be attributed to several factors. Firstly, North America has a strong presence of key pharmaceutical companies and biotechnology firms that drive the demand for drug discovery services. These companies have significant R&D budgets and a focus on innovation, contributing to the market's dominance in this region. Moreover, North America has a well-established and robust research infrastructure, including top-tier academic institutions, research centers, and government support for scientific advancements. The availability of skilled researchers and scientists, coupled with advanced technological capabilities, further strengthens the market's dominance in this region.

Asia Pacific is expected to be the fastest growing region in the global Drug Discovery Services market. The region is witnessing significant growth due to several factors. Firstly, countries like India and China have emerged as major players in the global pharmaceutical and biotechnology industries. These countries offer cost-effective research and development solutions, which attract pharmaceutical companies to outsource their drug discovery activities to the region. Furthermore, Asia Pacific has a large pool of skilled scientists and researchers. The availability of talent, coupled with advancements in technology and infrastructure, has boosted the region's capabilities in drug discovery services. Additionally, government initiatives promoting research and development, favorable regulations, and tax incentives have further accelerated the growth of the market in this region.

Global Drug Discovery Services Market By Geography, 2024-2031
  • Largest
  • Fastest

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Drug Discovery Services Market Dynamics

Drug Discovery Services Market Drivers

Rising demand for novel therapies for various therapeutic purposes

  • Drug-finding services rising demand for novel treatments for chronic diseases and advancements in the global healthcare industry are predicted to be the main drivers of market expansion. Pharmaceutical and biopharmaceutical businesses still contract out their research and development (R&D) activities to CROs, which offer R&D services and create engagement models to maximise R&D efficiency. Governments and pharmaceutical corporations are being forced to look for solutions and boost their investment in clinical trials as a result of the increased burden of chronic diseases. As a result, there will be a greater need for drug discovery services.

Drug Discovery Services Market Restraints

High cost of drug molecules and lack of skilled labour

  • The two biggest challenges facing the market will be a scarcity of trained labour and a high failure rate for target medication molecules. Millions of dollars are spent on preclinical research to find a molecule or create a medicine, which drives up the price of drug development.

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Drug Discovery Services Market Competitive Landscape

The market is highly competitive, and companies strive to differentiate themselves by offering innovative solutions, maintaining high-quality standards, and providing customized services to meet the specific needs of their clients.The competitive landscape is dynamic, with companies continuously investing in research and development, expanding their service portfolios, and seeking strategic partnerships and collaborations to enhance their capabilities. Additionally, there are also niche players and contract research organizations (CROs) that specialize in specific areas of drug discovery or provide focused services, such as computational chemistry, fragment-based drug discovery, high-throughput screening, or specialized animal models.

Drug Discovery Services Market Top Player’s Company Profiles

  • PPD Inc. (U.S.)
  • Wuxi AppTec (China)
  • Frontage Labs (U.S.)
  • Galapagos NV (Belgium)
  • Aurigene Discovery Technologies (India)
  • Genscript (U.S.)
  • Domainex (U.K.)
  • WIL Research Laboratories LLC (U.S.)
  • Shanghai Medicilon, Inc. (China)
  • Labcorp Drug Development (U.S.)
  • Jubilant Biosys Ltd. (India)
  • Evotec (Germany)
  • Shanghai ChemPartner (China)
  • Charles River Laboratories (U.S.)
  • Merck & Co. Inc. (U.S.)
  • Thermo Fisher Scientific Inc. (U.S.)
  • TCG Lifesciences Pvt Ltd. (India)

Drug Discovery Services Market Recent Developments

  • In October 2022, Exemplify Bio-Pharma, a US based company provided integrated drug development services in process and analytical chemistry as well as formulation technologies.
  • In January 2022, A target and medication development partnership between Evotec and Boehringer Ingelheim is centered on iPSC-based disease modelling for ophthalmologic disorders.

Drug Discovery Services Key Market Trends

  • Global Drug Discovery Services Market is experiencing several key market trends that are shaping its landscape. Firstly, there is a noticeable increase in outsourcing as pharmaceutical and biotech companies seek specialized service providers to handle their drug discovery activities. By doing so, companies can access expertise, advanced technologies, and cost-effective solutions while focusing on their core competencies. Another significant trend is the shift towards collaborative partnerships between pharmaceutical companies and contract research organizations (CROs). These partnerships allow for shared resources, expertise, and risk-sharing, fostering innovation and accelerating the drug discovery process. Technological advancements play a vital role in the drug discovery services market. Technologies such as high-throughput screening, artificial intelligence, and genomics are revolutionizing the process, enabling faster and more efficient identification and optimization of drug candidates.

Drug Discovery Services 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.

According to our Global Drug Discovery Services Market analysis, the market is a dynamic and rapidly evolving sector within the pharmaceutical and biotechnology industries, encompassing a wide range of services aimed at discovering and developing new drugs for various diseases and medical conditions. It involves the identification and validation of potential drug targets, development of drug candidates, and rigorous testing for safety and efficacy. To streamline this process, pharmaceutical and biotech companies rely on specialized service providers. These providers offer services such as target identification and validation, hit identification, medicinal chemistry, and preclinical development. Factors driving the market include the increasing prevalence of chronic and infectious diseases, demand for personalized medicine, and pressure to reduce drug development timelines and costs. The market is highly competitive, with large multinational contract research organizations (CROs) and smaller niche players vying for market share. North America currently dominates the market, but emerging economies in Asia Pacific show significant growth potential.

Report Metric Details
Market size value in 2023 USD 3.26 billion
Market size value in 2031 USD 6.6 billion
Growth Rate 7.3%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Small molecules and Large molecules
  • End-User
    • Pharmaceutical & Biotechnology companies and Academic Institutes
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
  • PPD Inc. (U.S.)
  • Wuxi AppTec (China)
  • Frontage Labs (U.S.)
  • Galapagos NV (Belgium)
  • Aurigene Discovery Technologies (India)
  • Genscript (U.S.)
  • Domainex (U.K.)
  • WIL Research Laboratories LLC (U.S.)
  • Shanghai Medicilon, Inc. (China)
  • Labcorp Drug Development (U.S.)
  • Jubilant Biosys Ltd. (India)
  • Evotec (Germany)
  • Shanghai ChemPartner (China)
  • Charles River Laboratories (U.S.)
  • Merck & Co. Inc. (U.S.)
  • Thermo Fisher Scientific Inc. (U.S.)
  • TCG Lifesciences Pvt Ltd. (India)
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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 Services 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 Services 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 Services 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 Services 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 Services Market:

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

Regional Analysis: Further analysis of the Drug Discovery Services 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 Services Market size was valued at USD 3.26 billion in 2021 and is poised to grow from USD 3.5 billion in 2022 to USD 6.6 billion by 2030, growing at a CAGR of 7.3% during the forecast period (2023-2030).

The market is highly competitive, and companies strive to differentiate themselves by offering innovative solutions, maintaining high-quality standards, and providing customized services to meet the specific needs of their clients.The competitive landscape is dynamic, with companies continuously investing in research and development, expanding their service portfolios, and seeking strategic partnerships and collaborations to enhance their capabilities. Additionally, there are also niche players and contract research organizations (CROs) that specialize in specific areas of drug discovery or provide focused services, such as computational chemistry, fragment-based drug discovery, high-throughput screening, or specialized animal models. 'General Electric (U.S.)', 'Eurofins Scientific (U.S.)', 'PPD Inc. (U.S.)', 'Syngene International Limited (India)', 'Wuxi AppTec (China)', 'Frontage Labs (U.S.)', 'Galapagos NV (Belgium)', 'Aurigene Discovery Technologies (India)', 'Genscript (U.S.)', 'Domainex (U.K.)', 'WIL Research Laboratories LLC (U.S.)', 'Shanghai Medicilon, Inc. (China)', 'Labcorp Drug Development (U.S.)', 'Jubilant Biosys Ltd. (India)', 'Evotec (Germany)', 'Shanghai ChemPartner (China)', 'Charles River Laboratories (U.S.)', 'Merck & Co. Inc. (U.S.)', 'Thermo Fisher Scientific Inc. (U.S.)', 'TCG Lifesciences Pvt Ltd. (India)'

Drug-finding services rising demand for novel treatments for chronic diseases and advancements in the healthcare industry are predicted to be the main drivers of market expansion. Pharmaceutical and biopharmaceutical businesses still contract out their research and development (R&D) activities to CROs, which offer R&D services and create engagement models to maximise R&D efficiency. Governments and pharmaceutical corporations are being forced to look for solutions and boost their investment in clinical trials as a result of the increased burden of chronic diseases. As a result, there will be a greater need for drug discovery services.

Drug Discovery Services Market is experiencing several key market trends that are shaping its landscape. Firstly, there is a noticeable increase in outsourcing as pharmaceutical and biotech companies seek specialized service providers to handle their drug discovery activities. By doing so, companies can access expertise, advanced technologies, and cost-effective solutions while focusing on their core competencies. Another significant trend is the shift towards collaborative partnerships between pharmaceutical companies and contract research organizations (CROs). These partnerships allow for shared resources, expertise, and risk-sharing, fostering innovation and accelerating the drug discovery process. Technological advancements play a vital role in the drug discovery services market. Technologies such as high-throughput screening, artificial intelligence, and genomics are revolutionizing the process, enabling faster and more efficient identification and optimization of drug candidates.

North America dominates the Drug Discovery Services market. The region holds the largest revenue share of more than 35.5%. This can be attributed to several factors. Firstly, North America has a strong presence of key pharmaceutical companies and biotechnology firms that drive the demand for drug discovery services. These companies have significant R&D budgets and a focus on innovation, contributing to the market's dominance in this region. Moreover, North America has a well-established and robust research infrastructure, including top-tier academic institutions, research centers, and government support for scientific advancements. The availability of skilled researchers and scientists, coupled with advanced technological capabilities, further strengthens the market's dominance in this region.

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