Drug discovery services are widely used in forensics, paternity testing, disaster victim identification, and anthropology with DNA analysis/profiling being a key tool in this sector.

The major factors driving the growth of this market are increasing research and development expenditure, inclination of major pharmaceutical companies towards outsourcing to avoid hurdles, and increasing demand for outsourcing of analytical testing and clinical trial services.

On the basis of process, the global market is segmented into target selection, target validation, hit-to-lead identification, lead optimization, and candidate validation. The hit-to-lead identification segment is expected to account for the largest share of the market in 2017. The growth in this segment is primarily attributed to emerging advanced technologies for high-throughput screening (HTS).

Based on type, the drug discovery services market is segmented into medicinal chemistry, biology services, and drug metabolism and pharmacokinetics (DMPK). In 2017, the medicinal chemistry segment is expected to account for the largest share of the market. Increasing R&D expenditure, growing number of drug discovery and developmental activities, and increasing inclination of pharmaceutical companies towards outsourcing are among the major factors driving the growth of the medicinal chemistry segment.

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By therapeutic area, the drug discovery services market is segmented into oncology, neurology, cardiovascular diseases, respiratory diseases, diabetes, and other therapeutic areas. The oncology segment is estimated to account for the largest share of the market in 2017. The market is mainly driven by the increasing number of patients suffering from cancer, which leads to a high demand for cancer therapies.

The drug discovery services market is classified by type into medicinal chemistry, biology services, and drug metabolism and pharmacokinetics (DMPK). In 2017, the medicinal chemistry segment is expected to command the largest share and is estimated to grow at the fastest rate as compared to other segments. The market is mainly driven by the increasing inclination of pharmaceutical companies towards outsourcing.

By region, the global drug discovery services market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2017, North America is expected to account for the largest share of the market. On the other hand, Asia Pacific is expected to grow at the highest CAGR during the forecast period. The high growth rate of this market is attributed to less stringent regulations and economical manufacturing costs in APAC.

The drug discovery services market is fragmented in nature due to the presence of a large number of players. The key players are Thermo Fisher Scientific (US), Albany Molecular Research Inc. (AMRI) (US), Charles River Laboratories International, Inc. (US), Evotec (Germany), Domainex (UK), GenScript (US), Covance (US), Selcia (UK), Viva Biotech (China), WuXi AppTec (China), SRI International (US), Pharmaceutical Product Development, LLC (PPD) (US), GVK Biosciences (India), Jubilant Biosys (India), GE Healthcare (US), Merck (Germany), Lonza (Switzerland), Piramal Enterprises (India), Advinus Therapeutics (India), Promega Corporation (US), Syngene International (India), Aurigene (India), Agilent Technologies (US), Ubiquigent (UK), and ChemBridge Corporation (US).

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Expansions, partnerships, agreements, and collaborations were the key strategies followed by players in the drug discovery services market. Some of the leading players that adopted this strategy include Charles River Laboratory (US), Evotec (Germany), Domainex (UK), GenScript (US), and Covance (US).

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