Global Drug Discovery Services Market: Trends, Applications, and Future Growth.

The Global Drug Discovery Services Market was valued at 10.2 billion in 2019 which is expected to reach USD 23.4 billion by 2027 at a CAGR 14.2%.

Qualiket Research’s latest report on ‘’Global Drug Discovery Services Market’’ contains qualitative and quantitative estimation of market elements that interests the clients. The increase in research and development investment and funding in pharmaceutical and biopharmaceutical industry thus raise demand for outsourcing analytical testing and clinical trial services.

Drug discovery is the process where new drugs are designed random screening, drug metabolites, molecular designing, drug metabolites, molecular designing, and serendipity. Drug discovery services mainly designed to reduce cost and timelines of drug discovery process. Drug discovery processes are used to development of new drugs.

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Key Players:

· Albany Molecular Research Inc., Charles River Laboratories, International Domainex, Thermo Fischer Scientific, Covance, GenScript, Selcia Limited, SRI International, WuXI App Tec, Viva Biotech, Evotec, and Pharmaceutical Product Developmemt LLC.

Top Regional scope:

· NorthAmerica

· Asia Pacific

· Europe

· Latin America

· Middle East

By Drivers, Drug Discovery Services Market:

· Increase in prevalence of chronic diseases like cancer is expected to boost the growth of global drug discovery service market. For instance, according to WHO (World Health Association) around 8.8 million people are dead due to cancer in 2015 worldwide. Furthermore, rise in demand for medicine for treatment of various diseases is expected to propel the global drug discovery services market growth. In addition to that, rise in technological advancements, new drug discovery techniques, as well as increase in demand for generic medicine expected to fuel the global drug discovery market growth.

By Restraints, Global Drug Discovery Services Market:

· Huge capital investments, and low profit margins are the major restraining factors which is expected to hamper the global drug discovery services market growth. Also, strict Food and Drug Administration (FDA) regulations and poor healthcare system will affect the growth of global drug discovery services market.

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By Type:

● DMPK

● Medicinal Chemistry

By Drug Type:

● Biologics

● Small Molecules

By Therapeutics: