The Drug Discovery Services Market is expected to grow from USD 10.91 billion in 2019 to USD 23.55 billion by 2026 at a CAGR of 12.02% from 2020 to 2026.
Drug discovery services have suffered a drastic change with the improvements in current molecular biology methods and advanced knowledge of the human genome. It is becoming a more hypothesis-driven target-based method. Pharmaceutical companies and regulatory bodies are causative to drug discovery. These services are an effective way of guide, transport a drug discovery platform in the field of biotechnology and pharmacology. Furthermore, these services are subcontracting is a complex, lengthy, expensive process and the duration for drug discovery is very high. The process of drug discovery contains docking molecular, drug target identification, drug discovery screening, small molecule screening, library screening, ion channel screening, etc. Maximum pharmaceutical use of these services during the clinical inspection or final stages of drug discovery so as to concentrate on other competencies of drug-like marketing, product structuring, process management, and manufacturing.
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The global Drug Discovery Services market has been segmented as below:
By Type
Drug Metabolism and Pharmacokinetics
Small- molecule Drugs
Biologic Drugs
Medicinal Chemistry Services
Biology Services
By Therapeutic Area
Digestive System Diseases
Cardiovascular Diseases
Other Therapeutic Areas
Oncology
Neurology
Infectious and Immune System Diseases
By Company Type
Tier 3 Pharmaceutical Companies
Tier 2 Pharmaceutical Companies
Tier 1 Pharmaceutical Companies
By Process
Hit-To-Lead Identification
Lead Optimization
Candidate Validation
Target Selection
Target Validation
By Region
Europe
North America
Asia Pacific
Rest of The World
Competitive Rivalry
Jubilant Lifesciences, Genscript Biotech Corporation, Piramal Enterprises Limited, Selvita S.A., Aurigene Discovery Technologies, Laboratory Corporation of America Holdings, Eurofins Scientific Se, Charles River Laboratories International, Evotec SE, Thermo Fisher Scientific, and others are among the major players in the global market. The companies studied in terms of product strategy and various n several growths and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
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