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