Drug Discovery Market by Drug Type, Technology, Therapeutic Area, End User

List of Tables

The Drug Discovery Market was valued at USD 62.38 billion in 2023, expected to reach USD 71.12 billion in 2024, and is projected to grow at a CAGR of 14.10%, to USD 157.13 billion by 2030.

The drug discovery market involves the identification and development of new therapeutic drugs. It's a critical phase in pharmaceutical research where potential new medications are discovered and optimized before preclinical studies. This market is essential due to the ever-increasing demand for novel medications, spurred by emerging health threats, chronic diseases, and antibiotic-resistant pathogens. The application of drug discovery spans from biotechnology and pharmaceutical companies to research facilities and academic institutions, focusing on areas like oncology, neurology, infectious diseases, and more. Key factors influencing growth include advances in AI and machine learning, which streamline the discovery process, and increased investments in R&D by pharmaceutical giants, driving innovation and efficiency. Opportunities are ripe in personalized medicine and the development of biologics, as well as expanding collaborations between academic institutions and biotech firms, which can accelerate breakthroughs and reduce time-to-market. Strategic partnerships and licensing agreements also provide pathways for companies to leverage each other's strengths. However, the market faces challenges including high costs and lengthy timelines associated with drug development, stringent regulatory requirements, and the potential for high failure rates during clinical trials. Intellectual property issues and competition from generics also pose challenges. Limitations in data access and integration further complicate research efforts. Innovations poised for growth include the utilization of CRISPR and other genomic technologies, as well as the integration of big data analytics to predict drug interactions and efficacy more efficiently. The nature of the market is highly competitive but collaborative, with a trend toward open innovation and sharing of resources and knowledge. Companies aiming for growth should focus on early-stage partnerships and harnessing technological advancements to mitigate risks and optimize resource allocation for drug discovery projects.

KEY MARKET STATISTICS
Base Year [2023]	USD 62.38 billion
Estimated Year [2024]	USD 71.12 billion
Forecast Year [2030]	USD 157.13 billion
CAGR (%)	14.10%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Drug Discovery Market

The Drug Discovery Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Rising R&D expenditure in the pharmaceutical & biopharmaceutical industry
- Increasing need to manage large data generated during preclinical studies
- Favorable government support for the development of drug discovery platforms
Market Restraints
- Requirement of extensive capital for drug discovery and development
Market Opportunities
- Emerging collaborations among companies to expand their drug discovery capabilities
- Technological advancements and innovations in drug discovery
- Use of AI cloud to create a streamlined and automated approach in drug discovery
Market Challenges
- Stringent norms for animal usage in drug discovery

Porter's Five Forces: A Strategic Tool for Navigating the Drug Discovery Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Drug Discovery Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Drug Discovery Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Drug Discovery Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Drug Discovery Market

A detailed market share analysis in the Drug Discovery Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Drug Discovery Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Drug Discovery Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Drug Discovery Market

A strategic analysis of the Drug Discovery Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Drug Discovery Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, Agilent Technologies, Inc., Alacrita Holdings Limited, Alkem Laboratories Ltd, Amgen Inc., Astex Pharmaceuticals by Otsuka Pharmaceutical Co., Ltd., Astrazeneca PLC, Atomwise, Inc., BenevolentAI, Bio-Rad Laboratories, Inc., BioSymetrics Inc., Charles River Laboratories International, Inc., Chembridge Corporation, Cloud Pharmaceuticals, Inc., Dalriada Drug Discovery, Deciphera Pharmaceuticals, Inc., Eli Lilly and Company, Evotec SE, Exscientia PLC, F. Hoffmann-La Roche Ltd., GENFIT SA, Incyte Corporation, International Business Machines Corporation, Intra-Cellular Therapies Inc., Kvantify, Lantern Pharma Inc., Merck KGaA, Microsoft Corporation, NVIDIA Corporation, PerkinElmer, Inc., Pharmacelera SL, Piramal Group, Recursion Pharmaceuticals, Inc., Sanofi S.A, Schrodinger, Inc., Shimadzu Corporation, and Thermo Fisher Scientific Inc..

Market Segmentation & Coverage

This research report categorizes the Drug Discovery Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Drug Type, market is studied across Biologic Drugs and Small Molecule Drugs.
Based on Technology, market is studied across Bioanalytical Instruments, Biochips, Bioinformatics, Combinatorial Chemistry, High Throughput Screening, Nanotechnology, and Pharmacogenomics.
Based on Therapeutic Area, market is studied across Cardiovascular Disease, Digestive System Diseases, Infectious & Immune system Diseases, Neurology, and Oncology.
Based on End User, market is studied across Academics & Research Institutes, Contract Research Organizations, and Pharmaceutical Companies.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Georgia, Illinois, Indiana, Michigan, New York, North Carolina, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-434CCDA0516F

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising R&D expenditure in the pharmaceutical & biopharmaceutical industry
  - 5.1.1.2. Increasing need to manage large data generated during preclinical studies
  - 5.1.1.3. Favorable government support for the development of drug discovery platforms
- 5.1.2. Restraints
  - 5.1.2.1. Requirement of extensive capital for drug discovery and development
- 5.1.3. Opportunities
  - 5.1.3.1. Emerging collaborations among companies to expand their drug discovery capabilities
  - 5.1.3.2. Technological advancements and innovations in drug discovery
  - 5.1.3.3. Use of AI cloud to create a streamlined and automated approach in drug discovery
- 5.1.4. Challenges
  - 5.1.4.1. Stringent norms for animal usage in drug discovery
5.2. Market Segmentation Analysis
- 5.2.1. Drug Type: Growing need for small molecule drugs with branded and generic products
- 5.2.2. Technology: Growing utilization of bioanalytical instruments and high throughput screening for initial drug discovery phases
- 5.2.3. Therapeutic Area: Increasing need of drug discovery for the development of oncology drugs
- 5.2.4. End User: Growing drug discovery use across pharmaceutical and biotechnology companies for developing new and improved drugs
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Drug Discovery Market, by Drug Type

6.1. Introduction
6.2. Biologic Drugs
6.3. Small Molecule Drugs

7. Drug Discovery Market, by Technology

7.1. Introduction
7.2. Bioanalytical Instruments
7.3. Biochips
7.4. Bioinformatics
7.5. Combinatorial Chemistry
7.6. High Throughput Screening
7.7. Nanotechnology
7.8. Pharmacogenomics

8. Drug Discovery Market, by Therapeutic Area

8.1. Introduction
8.2. Cardiovascular Disease
8.3. Digestive System Diseases
8.4. Infectious & Immune system Diseases
8.5. Neurology
8.6. Oncology

9. Drug Discovery Market, by End User

9.1. Introduction
9.2. Academics & Research Institutes
9.3. Contract Research Organizations
9.4. Pharmaceutical Companies

10. Americas Drug Discovery Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Drug Discovery Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Drug Discovery Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Exscientia PLC partners with AWS to harness AI and cloud technology for accelerating drug discovery and reducing costs
- 13.3.2. Enzene Biosciences launches new drug discovery division offering integrated services
- 13.3.3. Emory University's Center for New Medicines accelerates drug discovery with advanced technology for improved patient outcomes and collaborative research.
- 13.3.4. Oregon Therapeutics partners with Lantern Pharma to advance XCE853 development using RADR AI platform, targeting drug-resistant cancers
- 13.3.5. Xaira Therapeutics launches with over USD 1 billion funding to revolutionize AI-driven drug discovery with innovative machine learning models
- 13.3.6. bioXcelerate launches PleioGraph AI tool to revolutionize drug discovery, cutting costs and accelerating treatments by 100x
- 13.3.7. UC Berkeley's Molecular Therapeutics Initiative (MTI) aims to accelerate breakthrough treatments for neurological, metabolic diseases, and cancer through interdisciplinary collaboration
- 13.3.8. Danish quantum computing firm Kvantify unveils Kvantify Koffee to revolutionize drug discovery with expedited screening, cost reduction, and future-proof technology integration
- 13.3.9. Washington University and Deerfield Management partner to launch VeritaScience, committing USD 130 million to advance drug discovery and development
- 13.3.10. Arena BioWorks opens in Kendall Square with USD 500 million to accelerate drug discovery and market innovative medicines.
- 13.3.11. Evommune and Accutar Biotechnology announce AI drug discovery collaboration
- 13.3.12. IGC Pharma signs agreement to adopt AI solutions into drug discovery
- 13.3.13. University of Tsukuba and Astellas Pharma Inc. confirm a strategic partnership
- 13.3.14. Sosei and PharmEnable collaborate on another neurological drug
- 13.3.15. Novo Nordisk and Evotec launch translational drug discovery accelerator
- 13.3.16. Genesis raises USD 200 million for AI drug discovery research
13.4. Strategy Analysis & Recommendation
- 13.4.1. NVIDIA Corporation
- 13.4.2. F. Hoffmann-La Roche Ltd.
- 13.4.3. Exscientia PLC
- 13.4.4. Alkem Laboratories Ltd

Companies Mentioned

1. Abbott Laboratories
2. Agilent Technologies, Inc.
3. Alacrita Holdings Limited
4. Alkem Laboratories Ltd
5. Amgen Inc.
6. Astex Pharmaceuticals by Otsuka Pharmaceutical Co., Ltd.
7. Astrazeneca PLC
8. Atomwise, Inc.
9. BenevolentAI
10. Bio-Rad Laboratories, Inc.
11. BioSymetrics Inc.
12. Charles River Laboratories International, Inc.
13. Chembridge Corporation
14. Cloud Pharmaceuticals, Inc.
15. Dalriada Drug Discovery
16. Deciphera Pharmaceuticals, Inc.
17. Eli Lilly and Company
18. Evotec SE
19. Exscientia PLC
20. F. Hoffmann-La Roche Ltd.
21. GENFIT SA
22. Incyte Corporation
23. International Business Machines Corporation
24. Intra-Cellular Therapies Inc.
25. Kvantify
26. Lantern Pharma Inc.
27. Merck KGaA
28. Microsoft Corporation
29. NVIDIA Corporation
30. PerkinElmer, Inc.
31. Pharmacelera SL
32. Piramal Group
33. Recursion Pharmaceuticals, Inc.
34. Sanofi S.A
35. Schrodinger, Inc.
36. Shimadzu Corporation
37. Thermo Fisher Scientific Inc.