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Strategic Analysis of World Combinatorial Chemistry Markets
Frost & Sullivan, Dec 2003
Slowed Growth of Pharmaceuticals Market Significantly Affects R&D Spending
Reduced growth in virtually all segments that contribute to the purchase of chemistry services is one of the most persistent and critical challenges facing the global combinatorial chemistry market today. Of the $39.3 billion allocated to R&D spending in 2002 by the top 20 pharmaceutical companies, expenditure on pre-clinical development accounted for approximately 32 percent. With pharmaceutical top-line growth increasing relatively slowly at 5 to 6 percent, R&D expenditure is expected to grow at roughly the same rates.
This research closely examines the competitive factors in the dynamic combinatorial chemistry market, and segments the market into contract agreements, catalog business, and shared-risk research. The study focuses on trends shaping the market and discusses ways in which competitors can best position themselves for future success. Key challenges, strategies, and market opportunities are also described in detail.
Identification of Increasing Numbers of Validated Targets Benefits Combinatorial Chemistry
Combinatorial chemistry has become an integral part of drug discovery, and will benefit from the growing number of validated targets resulting from genomic and proteomic research, says the analyst. Identifying a drug target, however, forms only one part of the drug discovery process. Subsequently, the isolated target needs to be characterized before a therapeutic can be developed. In a growing number of cases, this therapeutic is a small molecule derived from combinatorial chemistry screening.
Future Market Growth Likely to Be Impacted by Cap on Pharmaceutical and Biotech R&D Spending
Estimated at $535 million in 2002, the global market for drug discovery combinatorial chemistry is forecast to expand at a compound annual growth rate of 6.9 percent to reach $852 million by 2009. Future market growth is anticipated to be strongly influenced by the slowing of pharmaceutical R&D spending, as well as a significant decrease in biotech R&D expenditure as a percentage of sales, says the analyst.
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