Global Drug Discovery Technologies Market Data 2024, Forecast To 2033
8 Mar, 2024
Drug discovery technologies market, valued at $66.08 billion in 2023, is projected to reach $72.87 billion in 2024, growing at a 10.3% CAGR due to genomic research. Expected to hit $108.31 billion by 2028, driven by precision medicine adoption and AI integration, with trends including high-throughput screening advances.
Global Drug Discovery Technologies Market Key Driver
The drug discovery technologies market is poised for growth due to the rising prevalence of acute and chronic diseases. Chronic diseases, responsible for a significant portion of deaths in the US, underscore the need for innovative drug discovery solutions. Integration of advanced technologies such as AI and machine learning offers opportunities to address critical barriers in drug development. This market trend is driven by the urgent demand to develop effective treatments for prevalent diseases, as highlighted by The United Nations' statistics on chronic disease-related deaths in the US.
Get A Free Sample Of The Global Drug Discovery Technologies Market ReportGlobal Drug Discovery Technologies Market Segments
The drug discovery technologies market covered in this report is segmented –
1) Technology:High Throughput Screening, Genomics, Nanotechnology, Bioinformatics, Combinational Chemistry, Pharmacogenomics, Biochips, Bioanalytical Instruments, Ribonucleic Acid Interface (RNAI)
2) Drug Type:Small Molecule Drugs, Biologic Drugs
3) Disease Application:Cancer Diseases, Immunological Diseases, Neurological Diseases, Cardiovascular Diseases, Other Disease Applications
4) End-User:Pharmaceutical Companies, Biopharmaceutical Companies, Biotechnology Companies, Research Institutes, Other End-Users
By Geography: The countries covered in the drug discovery technologies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the drug discovery technologies market in 2023. The regions covered in the drug discovery technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Drug Discovery Technologies Industry Players
F. Hoffmann-La Roche AG; Novartis AG; Thermo Fisher Scientific Inc.; AstraZeneca plc.; Merck KGaA; GE HealthCare Technologies Inc.; Agilent Technologies Inc.; Dassault Systemes SA; Charles River Laboratories International Inc.; Bio-Rad Laboratories Inc.; Evotec SE; Curia Global Inc.; Aragen Life Sciences Private Limited; Luminex Corporation; BioXcel Therapeutics Inc.; Certara Inc.; Schrödinger Inc.; Sygnature Discovery Ltd.; Recursion Pharmaceuticals Inc.; InSilico Medicine Inc.; ChemAxon Ltd.; Enamine Ltd.; BenevolentAI Limited; OpenEye Scientific Software Inc.; Collaborative Drug Discovery Inc.; Pharmacelera S.L.; Gyros Protein Technologies AB; Optibrium Ltd.; Cresset Group; Relay Therapeutics Inc.
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Drug Discovery Technologies Market Overview
Drug discovery technology refers to the various techniques and strategies used in discovering new drugs and identifying chemical entities with the potential to be medicines and therapeutic agents. These technologies aim to identify and develop potential drug candidates that can be used to treat diseases.