Global Drug Discovery Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The integration of artificial intelligence and machine learning techniques is revolutionizing drug discovery

• Drug discovery is a process to treat illnesses and enhance human health, it is a complex one that involves many different disciplines. It includes discovering potential drug targets, creating molecules that interact with them, and putting them through rigorous testing to ensure their efficacy and safety. The process of finding new targets and validating them usually comes first. Researchers identify particular molecules, proteins, or genetic sequences that are important in developing a disease and might be targeted for treatment. This phase frequently involves intensive study and applying a range of tools, including genomics, proteomics, and computational modeling.
• The global drug discovery market is a vibrant, quickly developing industry essential to creating new medications and treatments. It includes a broad range of activities to discover, design, and create novel medications to treat a variety of diseases and enhance patient outcomes. This report's executive summary highlights key trends, obstacles, and opportunities in the global drug discovery market. Target identification and validation, lead generation and optimization, preclinical testing, and clinical trials are some of the stages in the drug discovery process. Pharmaceutical companies, biotechnology companies, contract research organizations (CROs), academic institutions, and governmental organizations are just a few of the stakeholders in the market.
• Several factors drive the global market for drug discovery. First off, there is a significant need for novel and potent therapeutic approaches due to the rising prevalence of chronic and infectious diseases like cancer, cardiovascular disorders, and neurological conditions. Additionally, the need for new drugs is fueled by an growing aging population and rising healthcare costs. Scientific and technological developments also aid in market expansion. The drug discovery process has been completely transformed by advancements in high-throughput screening, combinatorial chemistry, bioinformatics, and genomics, which have made it possible for scientists to quickly identify potential drug targets and create molecules with higher success rates.
• The landscape of drug discovery has also seen a rise in partnerships and collaborations between pharmaceutical companies, academic institutions, and CROs. These partnerships make sharing knowledge, materials, and technological advancements easier, which quickens and lowers the cost of the drug discovery process. The drug discovery market does, however, also face several challenges. One of the biggest challenges is the high attrition rate in clinical trials, where a sizeable portion of potential drug candidates fail due to efficacy or safety concerns. This adds to the lengthy process and high overall cost of bringing a drug to market.
• The global market for drug discovery has bright prospects. Artificial intelligence (AI), machine learning, and big data analytics are just a few of the technological innovations that have the potential to streamline and improve the drug discovery process greatly. These technologies make enhanced target identification, lead optimization, and drug safety and efficacy prediction possible. The increased emphasis on personalized and precision medicine also opens up new avenues for drug discovery. Optimizing therapeutic outcomes and reducing side effects may be possible by customizing treatments to each patient's genetic profile and unique disease characteristics.
• Drug discovery is a time-consuming and expensive process that frequently requires several years and substantial financial outlays. The rate of success is comparatively low, with many drug candidates failing to advance due to ineffectiveness, safety issues, or other issues. However, by introducing novel treatment options and enhancing patient outcomes, the successful development of new medications can significantly influence healthcare.

Market Segmentations

• The Global Drug Discovery Market is segmented based on Drug Type, Technology, End User, and Geography.
• By Drug Type, the market is classified into Biologic Drugs and Small Molecule Drugs.
• The small molecule drugs are projected to expand over the forecast period and dominate the market segment. Small-molecule drugs are more likely than other molecules to be labeled as first-in-class or breakthrough drugs by the FDA. Therefore, it has been established that small-molecule drugs are essential for treating illnesses. It is anticipated that the market for small-molecule drug discovery will expand significantly over the coming years as a result of the rising number of small-molecule drugs that are getting approved, the rising demand for R&D from in-contract organizations, and the expanding use of small molecules in the treatment of chronic diseases.
• By Technology, the market is classified into Combinatorial Chemistry, High Throughput Screening, Nanotechnology, and Pharmacogenomics.
• The High Throughput Screening is anticipated to be the market's largest segment to expand over the next five years. In the pharmaceutical industry, high-throughput screening techniques are frequently used to quickly assess many compounds' biological or biochemical activity, frequently pharmaceuticals. Automation and robots are employed in these methods. Due to the quick and inexpensive screening of large compound libraries, they facilitate target analysis. The rapid increase in funding for research and development as well as the emergence of major market players have sparked the need for high-throughput screening technology. Biochips, bioinformatics, genomics, and various additional technologies are examples of other technologies.
• By End User, the market is classified into Contract Research Organizations (CROs), and Pharmaceutical Companies.
• The Pharmaceutical Companies, are anticipated to dominate the market segment and to expand during the forecast period. The increasing demand for novel therapies for the treatment of various chronic illnesses, which is anticipated to support the expansion of the studied market, has motivated pharmaceutical companies to use a variety of cutting-edge technologies in drug discovery. Since pharmacogenomics enables pharmaceutical companies to develop medications against specific targets, the majority of pharma players have been gravitating towards this drug development methodology. The involvement of pharmaceutical companies in research and development activities to find novel compounds and improve existing medications is expected to increase the drug discovery market.
• By Geography, the market is classified into the Americas, Europe, Middle-East & Africa, and Asia-Pacific.
• The largest market share belongs to Americas, which is anticipated to expand over the period of the forecast. The US's continued existence is the main cause of this enormous growth. The United States is the world leader in terms of the amount spent on pharmaceutical R&D. Additionally, it is the largest market for bulk medications and formulations with complete doses. The principles of a free economy, which are meant to implement open trade policies and forbid anti-competitive behavior, govern how the US market operates. For more than 30 years, the US pharmaceutical industry has led the world in developing new medicines, and PhRMA member companies continue to lead the way. Europe holds the second-largest market share.

Recent Development

• New findings from the unblinded phase of the HPTN 084 research in women in sub-Saharan Africa showed greater efficacy of injectable cabotegravir long-acting for PrEP over daily, oral TDF/FTC pills, according to ViiV Healthcare, the worldwide specialized HIV firm majority-owned by GSK. - July 2022
• ODM-208, an investigational steroid synthesis inhibitor for the treatment of metastatic castration-resistant prostate cancer, will be developed and commercialized as part of a global collaboration announced by Merck and Orion. - July 2022
• Agilent increased analysis speeds of Genomics Bioinformatics Pipelines using NVIDIA and AWS Technology. - June 2022
• The US FDA has approved MYFEMBREE®, a once-daily treatment for managing moderate to severe pain associated with endometriosis, which Myovant Sciences and Pfizer developed. - May 2022

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle-East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Drug Discovery Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development, and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Drug Discovery Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Drug Discovery Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market