Drug Discovery Market Size, Share & Growth | Forecast [2031]

Segments - Drug Discovery Market by Technology (Nanotechnology, Combinatorial Chemistry, High Throughput Screening, Pharmacogenomics, and Others), Drug Types (Biologic Drugs and Small Molecule Drugs), End-users (Contract Research Organizations, Pharmaceutical Companies, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Vishal Golekar

Report Description

Drug Discovery Market Outlook

The global drug discovery market size was valued at USD 55.46 Billion in 2022 and is likely reach to USD 122.46 Billion by 2031, expanding at a CAGR of 9.2% during the forecast period, 2023–2031.

The growth of the market is attributed to the rapid expansion of drugs discovery experiments along with the emerging technology that can help proceeding to become more specific and little time consuming drug manufacturing process.

Drug discovery is the type of process of drug manufacturing, which involves applying new capable therapeutic operation using a combination of investigational, mathematical, and scientific methods. Designing drugs is an innovative method of discovering brand new medications based on the knowledge of biological target.

Current drug discovery incudes the medicinal chemistry, recognition of screening hits, and development of those hits to increase the selectivity, adequacy, metabolic strength, and oral bioavailability.

Due to COVID-19 pandemic, several health organizations across countries are promptly investing in research and development programs to develop targeted drugs that can effectively fight the virus. As the number of the COVID-19 cases increased rapidly, there was surge in demand for drugs that can curb the spread of the virus. This led to the significant development of the market.

Market Trends, Drivers, Restraints, and Opportunities

Investments in research and development, presence of skilled professional in drugs development, and great management helps are key factors driving the growth of the market.
Drive towards personalized medicine and hunt of novel treatment mechanism have created a diverse pipeline with successful launch and promising outcomes of the first allowed product. These factors are expected to boost the market expansion in the coming years.
Existing corporate problems, networking failure, solid capability of development failure, and corporate harshness in the drug discovery innovation system are key challenges that can restrict the market growth.
Designing a drug substance with a single or narrow therapeutic purpose and complex clinical trials of companies coming after the same drug target are projected to limit the market growth.
Use of big data to leverage existing information into knowledge useable for drug discovery present good opportunities for the market expansion.

Scope of Drug Discovery Market Report

The report on the global drug discovery market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Drug Discovery Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Technology (Nanotechnology, Combinatorial Chemistry, High Throughput Screening, Pharmacogenomics, and Others), Drug Types (Biologic Drugs and Small Molecule Drugs), and End-users (Contract Research Organizations, Pharmaceutical Companies, and Others)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Merck & Co. Inc.; GlaxoSmithKline PLC; Pfizer Inc.; Eli Lilly and Company; and Agilent Technologies Inc.

Drug Discovery Market Segment Insights

High throughput screening segment is expected to grow at a rapid pace

Based on technology, the global drug discovery market is divided into nanotechnology, combinatorial chemistry, high throughput screening, pharmacogenomics, and others.

The high throughput screening segment is anticipated to grow at a rapid pace during forecast period owing to the wide popularity of screening test process of possible compound from different sources such as the ZINC database, US FDA approved drugs, CHEMBL database, and molecule under clinical test.

Biologic drugs segment is projected to expand at a considerable CAGR

On the basis of drug types, the market is bifurcated into biologic drugs and small molecule drugs. The biological drugs segment is projected to expand at a considerable CAGR during the forecast period.

Biological and drugs offer benefits such as fewer side effects, high effectiveness and potential action, and ability to actually recover from the disease as compared to other drug types. The advantages of simple treatment of the symptoms, which increase the trade for these products.

Pharmaceutical companies segment is anticipated to constitute a key market share

In terms of end-users, the global drug discovery market is classified as contract research organizations (CROS), pharmaceutical companies, and others.

The pharmaceutical companies are expected to constitute a key share of the market during the projected period owing to wide investment, high adoption, and leading technological development by pharmaceutical companies in the development of drug discovery.

Due to their positive results in the treatment of a few of rare and chronic diseases, the market segment is expected to exhibit a robust growth rate.

Drug Discovery Market Regional Outlook

North America is expected to dominate the market

Based on regions, the market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market in the coming years. The growth of the regional market is attributed to availability of a huge market for finished dosage formulations and large amount of drugs.

Moreover, wide expansion in term of research and development investment for the development of pharmaceutical products acts as a major driver of the market growth in the region.

Segments

Technology

Nanotechnology
Combinatorial Chemistry
High Throughput Screening
Pharmacogenomics
Others

Drug Types

Biologic Drugs
Small Molecule Drugs

End-Users

Contract Research Organizations
Pharmaceutical Companies
Others

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Merck & Co. Inc.
GlaxoSmithKline PLC
Pfizer Inc.
Eli Lilly and Company
Agilent Technologies Inc.

Competitive Landscape

The market is very competitive in nature owing to the presence of many major players. Some of the major players competing in the global drug discovery market are Merck & Co. Inc.; GlaxoSmithKline PLC; Pfizer Inc.; Eli Lilly and Company; and Agilent Technologies Inc.

Drug Discovery Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Drug Discovery Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Drug Discovery Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Drug Discovery Market - Supply Chain
  4.5. Global Drug Discovery Market Forecast
     4.5.1. Drug Discovery Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Drug Discovery Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Drug Discovery Market Absolute $ Opportunity
5. Global Drug Discovery Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. Drug Discovery Market Size and Volume Forecast by End Users
     5.3.1. Contract Research Organizations Pharmaceutical Companies Others
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Drug Discovery Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Drug Discovery Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Drug Discovery Demand Share Forecast, 2019-2026
7. North America Drug Discovery Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Drug Discovery Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Drug Discovery Market Size and Volume Forecast by End Users
     7.4.1. Contract Research Organizations Pharmaceutical Companies Others
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Drug Discovery Demand Share Forecast, 2019-2026
8. Latin America Drug Discovery Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Drug Discovery Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Drug Discovery Market Size and Volume Forecast by End Users
     8.4.1. Contract Research Organizations Pharmaceutical Companies Others
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Drug Discovery Demand Share Forecast, 2019-2026
9. Europe Drug Discovery Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Drug Discovery Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Drug Discovery Market Size and Volume Forecast by End Users
     9.4.1. Contract Research Organizations Pharmaceutical Companies Others
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Drug Discovery Demand Share Forecast, 2019-2026
10. Asia Pacific Drug Discovery Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Drug Discovery Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Drug Discovery Market Size and Volume Forecast by End Users
     10.4.1. Contract Research Organizations Pharmaceutical Companies Others
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Drug Discovery Demand Share Forecast, 2019-2026
11. Middle East & Africa Drug Discovery Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Drug Discovery Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Drug Discovery Market Size and Volume Forecast by End Users
     11.4.1. Contract Research Organizations Pharmaceutical Companies Others
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Drug Discovery Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Drug Discovery Market: Market Share Analysis
  12.2. Drug Discovery Distributors and Customers
  12.3. Drug Discovery Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Merck & Co. Inc. GlaxoSmithKline PLC Pfizer Inc. Eli Lilly and Company Agilent Technologies Inc.