Global drug discovery services market expected to generate around USD 20.29 billion by 2025, at a CAGR of around 11.9% between 2019 and 2025. The rising expenditure on research and development, growing inclination of pharmaceutical companies toward outsourcing to evade hurdles driving the market growth globally.

Sarasota, FL -- (SBWire) -- 02/28/2019 --Zion Market Research has published a new report titled "Drug Discovery Services Market by Type (Pharmacokinetics and Drug Metabolism, Biology Services, and Medicinal Chemistry), by Process (Target Validation, Target Selection, Hit-To-Lead Identification, Candidate Validation, and Lead Optimization), by Drug Type (Biologics and Small Molecules), and by Therapeutic Area (Neurology, Diabetes, Oncology, Respiratory Diseases, Cardiovascular Diseases, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025". According to the report, the global drug discovery services market was valued at approximately USD 9.3 billion in 2018 and is expected to generate around USD 20.29 billion by 2025, at a CAGR of around 11.9% between 2019 and 2025.

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In pharmacology, biotechnology, and medicine, the method of drug discovery is used to design and/or discover new medications. The drug discovery process comprises the identification of aspirants, production, depiction, selection, and assays for therapeutic usefulness. Once a compound has presented its value in these assessments, it will initiate the course of drug development leading to clinical trials. The drug target recognition, drug discovery selection, and drug design based on the fragment, lead compound recognition, and lead optimization form the core of drug discovery services.

The rising expenditure on research and development, growing inclination of pharmaceutical companies toward outsourcing to evade hurdles, increasing incidences of cancer and other life-threatening diseases, growing awareness regarding the use of new drugs, and increasing geriatric population worldwide are likely to be major driving the growth of the global drug discovery services market in the future. Patent expiry of current products and technological improvements in drug discovery services due to an increased focus on research and development is anticipated to create new market opportunities in the drug discovery services market over the estimated timeframe. Nonetheless, high costs associated with drug discovery, strict guidelines in some regions, and the drug testing on animals may restrict the global drug discovery services market.

The global drug discovery services market has been split into type, process, drug type, and therapeutic area. By type, the drug discovery services market is segmented into pharmacokinetics and drug metabolism, biology services, and medicinal chemistry. The medicinal chemistry segment is anticipated to hold the largest market share. The process includes target validation, target selection, hit-to-lead identification, candidate validation, and lead optimization. The hit-to-lead identification segment is anticipated to hold the largest market share in the future. The drug type segment includes biologics and small molecules. The therapeutic area segment includes neurology, diabetes, oncology, respiratory diseases, cardiovascular diseases, and others. The oncology segment is expected to hold a major market share in the future, owing to the increasing cases of cancer, growing tobacco usage, and unhealthy diets of people.

By region, North America is likely to lead the global drug discovery services market over the forecast time period. This can be attributed to the growing prevalence of chronic and auto-immune disorders, the presence of leading market players, availability of advanced healthcare infrastructure, and quick implementation of the latest technologies. Europe is anticipated be the second largest regional market in the years ahead, due to the increasing number of cancer and diabetes cases, growing geriatric population base, advantageous reimbursement scenario, and the presence of state-of-the-art healthcare infrastructure. The Asia Pacific market is projected to grow considerably over the estimated timeframe, due to the growing cases of cancer owing to high tobacco usage, and increasing demand for small molecules and biologics.

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Some key players of the global drug discovery services market are Albany Molecular Research Inc. (AMRI), Thermo Fisher Scientific, Evotec, Charles River Laboratories International, Domainex, Covance, GenScript, Selcia Limited, WuXiAppTec, Viva Biotech, Pharmaceutical Product Development, LLC, and SRI International, among others.

This report segments the global drug discovery services market into:

Global Drug Discovery Services Market: By Type

Pharmacokinetics and Drug Metabolism
Biology Services
Medicinal Chemistry

Global Drug Discovery Services Market: By Process

Target Validation
Target Selection
Hit-To-Lead Identification
Candidate Validation
Lead Optimization

Global Drug Discovery Services Market: By Drug Type

Biologics
Small Molecules

Global Drug Discovery Services Market: By Therapeutic Area

Neurology
Diabetes
Oncology
Respiratory Diseases
Cardiovascular Diseases
Others

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Global Drug Discovery Services Market: By Region

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa