Drug Discovery Services - Global Market Trajectory & Analytics

Global Drug Discovery Services Market to Reach $22 Billion by 2027

Amid the COVID-19 crisis, the global market for Drug Discovery Services estimated at US$9.5 Billion in the year 2020, is projected to reach a revised size of US$22 Billion by 2027, growing at a CAGR of 12.7% over the analysis period 2020-2027. Medicinal Chemistry Services, one of the segments analyzed in the report, is projected to record a 13.7% CAGR and reach US$11.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Biology Services segment is readjusted to a revised 12.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $2.6 Billion, While China is Forecast to Grow at 16.7% CAGR

The Drug Discovery Services market in the U.S. is estimated at US$2.6 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.9 Billion by the year 2027 trailing a CAGR of 16.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.9% and 11.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 10% CAGR.

Drug Metabolism & Pharmacokinetics Segment to Record 11.3% CAGR

In the global Drug Metabolism & Pharmacokinetics segment, USA, Canada, Japan, China and Europe will drive the 10.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.4 Billion in the year 2020 will reach a projected size of US$2.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3.3 Billion by the year 2027, while Latin America will expand at a 12.8% CAGR through the analysis period.

Select Competitors (Total 35 Featured):

• Albany Molecular Research Inc.
• Charles River Laboratories International Inc.
• Domainex
• Eurofins Scientific SE
• Evotec A.G.
• GenScript Biotech Corporation
• Jubilant Biosys Ltd.
• Laboratory Corporation of America Holdings
• Pharmaceutical Product Development LLC
• Piramal Enterprises Ltd.
• Selvita S.A.
• Thermo Fisher Scientific Inc.
• WuXi AppTec