Global Drug Discovery Market Size, Share, Growth, Trends, and Forecast (2024 - 2031)
Global Drug Discovery Market Scope: Historical Data (2021 – 2022), Base Year (2023), Forecast Period (2024 – 2031)
Market Segmentation: By Drug Type (Small Molecule Drugs, and Biologic Drugs), Technology (High Throughput Screening, Pharmacogenomics, Combinatorial Chemistry, Nanotechnology, and Other Technologies), End User (Pharmaceutical Companies, Contract Research Organizations (CROs), and Other End Users), and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
Market Overview
The Global Drug Discovery Market was valued at USD 94,786.3 million in 2023 and is expected to reach USD 157,934.6 million by 2031 while growing at a CAGR of 6.6% during the forecast period (2024-2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Market Dynamics
This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global drug discovery market growth. Drug discovery is a multifaceted process encompassing the identification and development of new medications or therapeutic agents. Its objective is to uncover compounds targeting specific biological mechanisms for treating or preventing diseases. The process spans various stages, from identifying potential drug targets to the eventual development and marketing of a new pharmaceutical product.
The increasing prevalence of chronic diseases and advancements in biotechnology and genomics are poised to drive the drug discovery market. However, challenges such as high development costs, stringent regulatory requirements, and a complex regulatory landscape may impede market expansion.
Furthermore, the global drug discovery industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.
Segmentation – By Drug Type Analysis
The Global Drug Discovery Market is segmented among Small Molecule Drugs, and Biologic Drugs, based on Drug Type. In 2023, Biologic Drugs accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Segmentation – By Technology Analysis
The Global Drug Discovery Market is segmented among High Throughput Screening, Pharmacogenomics, Combinatorial Chemistry, Nanotechnology, and Other Technologies, based on Technology. In 2023, High Throughput Screening accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Global Drug Discovery Market: Regional Analysis
Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, North America dominated the market with the highest market share, while Asia Pacific is expected to grow with the highest CAGR during the forecast period (2024 – 2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Competitive Landscape
Some of the key players operating in the market are AbbVie Inc., Bristol-Myers Squibb Company, AstraZeneca PLC, Bayer AG, Eli Lilly and Company, F. Hoffmann-La Roche Ltd, GlaxoSmithKline PLC, Merck & Co. Inc., Novartis, and Pfizer Inc.
Table of Contents:
1. Research Methodology and Market Scope
Research Methodology
Market Scope
2. Executive Summary
3. Global Drug Discovery Market Dynamics
Drivers
Restraints
Opportunity
4. Global Drug Discovery Industry Analysis
PEST Analysis
Porter's Five Force Analysis
Recent Deals Analysis
5. Global Drug Discovery Market Segmentation, By Drug Type
Global Drug Discovery Market Share Analysis, By Drug Type
Global Drug Discovery Market Growth Analysis, By Drug Type
Global Drug Discovery Market Trends, By Drug Type
o Small Molecule Drugs
o Biologic Drugs
6. Global Drug Discovery Market Segmentation, By Technology
Global Drug Discovery Market Share Analysis, By Technology
Global Drug Discovery Market Growth Analysis, By Technology
Global Drug Discovery Market Trends, By Technology
o High Throughput Screening
o Pharmacogenomics
o Combinatorial Chemistry
o Nanotechnology
o Other Technologies
7. Global Drug Discovery Market Segmentation, By End User
Global Drug Discovery Market Share Analysis, By End User
Global Drug Discovery Market Growth Analysis, By End User
Global Drug Discovery Market Trends, By End User
o Pharmaceutical Companies
o Contract Research Organizations (CROs)
o Other End Users
8. Global Drug Discovery Market Segmentation, By Region
Global Drug Discovery Market Share Analysis, By Region
Global Drug Discovery Market Growth Analysis, By Region
Global Drug Discovery Market Trends, By Region
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East
o Africa
9. Competitive Landscape
AbbVie Inc.*
o Company Overview
o Financial Performance
o Key Development/Strategies
o SWOT Analysis
Bristol-Myers Squibb Company
AstraZeneca PLC
Bayer AG
Eli Lilly and Company
F. Hoffmann-La Roche Ltd
GlaxoSmithKline PLC
Merck & Co. Inc.
Novartis
Pfizer Inc.
*Similar analysis will be provided for each company listed above.
