(EMAILWIRE.COM, July 12, 2018 ) Browse 92 Market Data Tables and 39 Figures spread through 168 Pages and in-depth TOC on "Drug Discovery Services Market"
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Drug discovery is the early phase in which target identification, target validation, hit-to-lead identification, hit-to-lead optimization, and candidate validation is taken place to deliver suitable molecule or candidate for drug development.

The drug discovery services are provided by contract research organization (CROs) to pharmaceutical companies. The global drug discovery services market is expected to reach USD 14.40 Billion by 2022 from USD 8.32 billion in 2017, at a CAGR of 11.6%.

Globally, the drug discovery services market is witnessing a growth due to factors such rising R&D expenditure, increasing demand for outsourcing analytical testing & clinical trial services, initiatives for research on rare diseases, and focus on drug discovery.

Albany Molecular Research Inc. (AMRI) (US), Charles River Laboratories International (US), Evotec (Germany), Domainex (UK), GenScript (US), Covance (US), WuXi AppTec (China), Pharmaceutical Product Development, LLC (PPD) (US), Jubilant Biosys (India), GE Healthcare (US), Merck (Germany), Piramal Enterprises (India), and Advinus Therapeutics (India) are some of the leading players in this market.

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Based on process, the drug discovery services market is segmented into target selection, target validation, hit-to-lead identification, lead optimization, and candidate validation. In 2017, the hit-to-lead identification process segment is expected to account for the largest share of the drug discovery services market. The large share of this segment can be attributed to the emerging advanced technologies for high-throughput screening (HTS).

By type, the drug discovery services market is segmented into medicinal chemistry, biology services, and drug metabolism and pharmacokinetics (DMPK). The medicinal chemistry segment is expected to register the highest growth rate during the forecast period. 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.

On the basis of drug type, the market is categorized into small molecules and biologics. The biologics segment is estimated to grow at the highest CAGR during the forecast period. Increasing demand of biologics due to the high demand for cancer drugs and monoclonal antibodies (mAbs) are propelling the biologics market towards growth.

The drug discovery services market has been segmented based on therapeutic areas into oncology, neurology, cardiovascular diseases, respiratory diseases, diabetes, and other therapeutic areas. The oncology segment is estimated to grow at the fastest growth rate during the forecast period. The market is mainly driven by the increasing number of patients suffering from cancer, which leads to a high demand for cancer therapies.

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The drug discovery services market is classified based on regions into North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). APAC is expected to grow at the highest CAGR during the forecast period. Less stringent regulations and economical manufacturing costs are the major factors driving the drug discovery services market in this region.

Some of the major players operating in the drug discovery services market are Albany Molecular Research Inc. (AMRI) (US), Charles River Laboratories International (US), Evotec (Germany), GenScript (US), Covance (US), WuXi AppTec (China), Pharmaceutical Product Development, LLC (PPD) (US), Jubilant Biosys (India), GE Healthcare (US), Merck (Germany), Piramal Enterprises (India), and Advinus Therapeutics (India).

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