Drug Discovery Market 2020 – Size, Comprehensive Analysis, Business Development, Drug Discovery Product, Industry Demand, Key Trends, Consumables, Services, Biotechnology And Global High Growth Market Forecast To 2026
SEATTLE, March 29, 2021, (PHARMIWEB) — Drug Discovery Market – Insights
Drug discovery includes screening of chemical libraries and identification of active ingredients for a natural remedy or by serendipitous discovery. The approach focuses on analyzing the success rate of investigational drugs in stages, pre-clinical studies, investigational new drug application-Phase I, Phase II, Phase III studies, new drug application, and phase IV studies.
Get Sample PDF Brochure with Impact of COVID19: https://www.coherentmarketinsights.com/insight/request-pdf/1631
Drug Discovery Market – Drivers
Some of the factors the boost growth of the global drug discovery market include, high prevalence of several diseases, emergence of new diseases, increasing development in biotechnology and pharmaceuticals sectors, and R&D of new active ingredients for use in drug development. Increasing number of current drugs are expected to lose patents, which offers lucrative growth opportunities for market players. For instance, in 2017, manufacturers such as Eli Lilly, Bristol-Myers Squibb, Pfizer, Takeda, and Gilead lost patents for some of their major revenue generating therapies used for the treatment of multiple sclerosis, HIV, erectile dysfunction, and cancer. Loss of patents promotes market players to focus on R&D of new therapies. Moreover, patent loss also offers lucrative opportunities for generic manufacturers. Therefore, key players in the market are focused on developing new and effective drugs to remain competitive in the market.
Tailored Information as per niche requirement:
LIMITED TIME OFFER – Hurry Up!
Get Discount For Buyers UPTO 30% OFF On Any Research Report
Apply Promo Code “CMIFIRST1000” And Get an Instant Discount Of USD 1000
Buy Now This Premium Report to Grow your Business @ https://bit.ly/3srRzj3
High number of people suffering from diseases such as cancer, cardiovascular, and CNS-related disorders is also expected to boost growth of the drug discovery market. For instance, according to the World Cancer Research Fund International, 2015, an estimated 124,000 new cases of myeloma were diagnosed globally in 2015, which accounted for 0.8% of the total cancer cases. The mortality rate of the disease is around 0.9% of all cancer deaths, accounting for 87,000 deaths, annually. Such scenario has led major market players to focus on R&D of immunotherapies targeting B-cell maturation antigen (BCMA) such as chimeric antigen receptor T-cells (CAR-T cells), bispecific antibodies, and antibody drug conjugates (ADCs). For instance, in 2012, the University of Pennsylvania and Novartis entered into an exclusive global research and licensing agreement to study and commercialize novel cellular immunotherapies using chimeric antigen receptor (CAR) technologies. In 2016, Juno Therapeutics entered into a licensing agreement with Memorial Sloan Kettering Cancer Center (MSKCC) and Eureka Therapeutics for developing CAR T cell immunotherapy against multiple novel targets.
Drug Discovery Market – Restraints
However, drug discovery and development is a complex, time-consuming, and risky process. Moreover, it also involves high investment and often offers low success rates. These factors are expected to hinder growth of the global drug discovery market. For instance, according to data published by Journal Research & Review 2016, the success during drug discovery process is very low and among 5,000-10,000 drug discovery screening, only 250 enter the preclinical testing and 5 enter the clinical testing and only 1 drug is approved by the regulatory body. Moreover, according to the same source, drug discovery process takes around 5-10 years for the complete drug discovery, development, and introduction in the market, which costs around US$ 1.7 Bn for complete process to undergo successfully.
To understand Research Methodology, please click https://www.coherentmarketinsights.com/ongoing-insight/drug-discovery-market-1631
Drug Discovery Market – Regional Insights
On the basis of region, the global drug discovery market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The market in North America held dominant position in 2016, followed by Europe. The market growth in North America is driven by high presence of major market players such as Pfizer, Inc., Merck, GlaxoSmithKline, and Novartis. Moreover, increasing support of regulatory bodies and favorable regulatory policies for investors in R&D of drugs is also contributing to growth of the market in North America. For instance, the US Regulatory Framework offers for three distinct regulatory approval pathways outlined in the Food, Drug, and Cosmetics Act (FD&C Act), which allows the registration of novel compounds, new drugs containing similar ingredients to previously approved products and generic copies of previously approved products in systematic way helping the pharmaceutical companies to gain approval over the new drugs.
The market in Asia Pacific is driven by increasing focus of market players to expand their presence in the region and high R&D activities. Increasing government initiatives to support R&D of drugs is also contributing to growth of the market in Asia Pacific. For instance, in March 2011, the government of Korea participated in the Korean National Enterprise for Clinical Trials, to advance the country’s infrastructure for conducting clinical trials, which could fasten the process of clinical trials.
Drug Discovery Market – Competitive Analysis
Key players in the market are focused on adopting collaboration and merger strategies to expand their product portfolio. For instance, in January 2018, AstraZeneca and Imperial College London collaborated to investigate biological drivers for respiratory diseases such as asthma and chronic obstructive pulmonary disease. Furthermore, in January 2018, BioCryst Pharmaceuticals Inc. and Idera Pharmaceuticals Inc. announced plans for a definitive merger agreement to develop drugs for patients with rare diseases.
Major players operating in the global drug discovery market include, F Hoffmann-La Roche Ltd., Bayer AG, Abbott Laboratories Inc., Pfizer Inc., GlaxoSmithKline LLC, Eli Lilly and Company, AstraZeneca PLC, Shimadzu Corp. Merck & Co. Inc., and Agilent Technologies Inc.
Got any Query? Feel free to ask us at : https://www.coherentmarketinsights.com/insight/talk-to-analyst/1631
Drug Discovery Market Taxonomy:
By Drug Type:
- Small Molecule Drug
- Biologics Drug
- High Throughput Screening
- Pharmacogenomics and Pharmacogenetics
- Combinatorial Chemistry
- Other Technologies
- Drug Metabolism and Pharmacokinetics (DMPK) Services
- Pharmaceutical Services
- Chemical Services
- Biological Services
By End User
- Research Institutes
- Pharmaceutical Companies
- Biotechnology Companies
- Other End Users
- North America
- Latin America
- Asia Pacific
- Middle East
Table of Content
Global Drug Discovery Market Research Report
Section 1: Global Drug Discovery Industry Overview
Section 2: Global Economic Impact on Drug Discovery Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Drug Discovery Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Drug Discovery Market Forecast
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.
To know more about us, please visit our website – www.coherentmarketinsights.com
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
- CDN Newswire