PUBLISHER: The Business Research Company | PRODUCT CODE: 1409801
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409801
“Small Molecule Drug Discovery Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on small molecule drug discovery market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for small molecule drug discovery? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The small molecule drug discovery market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Small molecule drug discovery involves the identification of medicines characterized by their low molecular weight, allowing them to easily penetrate cells and either cure or prevent diseases.
The primary categories within small molecule drug discovery are small molecule drugs and biologic drugs. Small molecule drugs are organic chemicals with relatively low molecular weights (less than 900 daltons) that affect biological processes. Various technologies employed in this field include high throughput screening, pharmacogenomics, combinatorial chemistry, nanotechnology, and others. These technologies find application in therapeutic areas such as oncology, central nervous system disorders, cardiovascular diseases, respiratory conditions, metabolic disorders, gastrointestinal ailments, among others. The drug discovery process involves phases such as target identification or validation, hit generation and selection, lead identification, and lead optimization, utilized by pharmaceutical companies, contract research organizations, and other entities in the industry.
The small molecule drug discovery market research report is one of a series of new reports from The Business Research Company that provides small molecule drug discovery market statistics, including small molecule drug discovery industry global market size, regional shares, competitors with a small molecule drug discovery market share, detailed small molecule drug discovery market segments, market trends and opportunities, and any further data you may need to thrive in the small molecule drug discovery industry. This small molecule drug discovery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The small molecule drug discovery market size has grown strongly in recent years. It will grow from $57.41 billion in 2023 to $63.15 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The historical growth in the field of small molecule drug discovery can be attributed to several key factors. These include initiatives focused on drug repurposing, leveraging existing drugs for new therapeutic uses, the integration of automation in the drug discovery process, augmented investment in research and development (R&D) within the pharmaceutical industry, regulatory support and facilitation for drug development, and significant advancements in high-throughput screening technologies. These factors collectively contributed to advancements and progress in the small molecule drug discovery landscape.
The small molecule drug discovery market size is expected to see rapid growth in the next few years. It will grow to $95.63 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The anticipated growth in the upcoming period is driven by several factors. These include the identification of new and innovative therapeutic targets, a shift towards patient-focused drug discovery approaches, the development of drug-device combination products, the utilization of real-world evidence in drug research, the integration of pharmacogenomics into drug development, and the ongoing challenges posed by global health issues. Key trends expected in this forecast period involve the adoption of fragment-based drug discovery methods, the incorporation of artificial intelligence into drug research, advancements in RNA-targeted therapeutics, fostering collaborations and partnerships within the industry, innovations in drug delivery techniques, and the increased utilization of organoids and 3D cell culture models.
The anticipated rise in chronic diseases is set to propel the growth of the small molecule drug discovery market. Chronic diseases, characterized by lasting a year or longer and requiring continuous medical care, include conditions such as HIV, cancer, infections, heart disease, and renal disease. Small-molecule medications prove to be effective in treating these chronic conditions and are generally more cost-effective for patients. According to a report from the National Institutes of Health (NIH) in 2023, the United States is expected to witness a 99.5% increase in the number of people aged 50 and older with at least one chronic illness, rising from 71.522 million in 2020 to 142.66 million in 2050. Additionally, the number of people with multimorbidity is projected to rise by 91.16%, reaching 14.968 million in 2050 from 7.8304 million in 2020. Consequently, the growing incidence of chronic diseases is a driving force behind the expansion of the small molecule drug discovery market.
Government initiatives aimed at promoting research and development in healthcare are anticipated to drive the growth of the small molecule drug discovery market. These initiatives involve specific actions, programs, or policies undertaken by government authorities at various levels to address healthcare challenges and foster positive changes in society. In 2022, the UK government, as reported by the Department of Health and Social Care, committed £260 million (US $270.65 million) in funding to enhance healthcare research and manufacturing. This funding, provided by BEIS and DHSC, supports NHS-led health research in diagnostics and treatment through innovative privacy-preserving platforms and clinical research services. An additional £60 million (US $63.60 million) was allocated to support the expansion of life sciences manufacturing in the UK. Consequently, government initiatives focused on research and development in healthcare play a pivotal role in propelling the small molecule drug discovery market.
Technological innovations emerge as a prominent trend in the small molecule drug discovery market, with major companies concentrating on the development of new products. For instance, in January 2023, Dotmatics, a US-based provider of a digital science platform, introduced the Small Molecule Drug Discovery Solution. Uniquely designed with an integrated scientific R&D platform featuring pre-configured workflows and expanded data management capabilities, this solution aims to reduce operational inefficiencies and expedite the process of transforming data into actionable insights. The focus on technological advancements underscores the commitment of industry leaders to drive advancements in the small molecule drug discovery field.
Prominent companies within the small molecule drug discovery sector are actively engaging in strategic partnerships as a key strategy to drive revenues. These collaborations often serve as catalysts for innovation by harnessing the combined expertise of different entities. In a noteworthy example, in November 2023, Evommune, a non-profit organization based in the United States, joined forces with Accutar Biotechnology, a US-based biotechnology company, in a strategic partnership focused on AI-based drug discovery, specifically targeting chronic inflammatory diseases. This collaborative effort aims to capitalize on Accutar's proprietary AI platform and Evommune's specialized expertise to identify novel small molecule drug candidates.
A significant partnership occurred in July 2022 when GSK Plc., a prominent pharmaceutical and biotechnology company based in the UK, acquired Sierra Oncology Inc. for a substantial deal valued at 1.9 billion dollars. This strategic acquisition plays a crucial role in expanding GSK's advanced cancer portfolio, underscoring its commitment to improving patient outcomes and maximizing shareholder value. Sierra Oncology, a US-based clinical-stage drug development company, specializes in advancing targeted therapeutics for the treatment of cancer patients. The collaboration is expected to enable GSK to establish a sustainable process for innovative therapeutics, utilizing modalities such as small molecules, antibodies, antibody-drug conjugates, and cell therapy. This strategic move reinforces GSK's position in the small molecule drug discovery landscape while broadening its capabilities in addressing critical healthcare challenges.
Major companies operating in the small molecule drug discovery market report are Pfizer Inc., GlaxoSmithKline plc, AstraZeneca, Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Company, Johnson & Johnson, Gilead Sciences Inc., Merck KGaA, Novartis AG, 21st Century Therapeutics Inc., 4SC AG, Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Immunocure Inc., Labcorp Drug Development, ICON Public Limited Company, Charles River Laboratories, Aluda Pharmaceuticals, CelerisTx, Clinuvel Pharmaceuticals, Corcept Therapeutics, Doloromics, Edison Oncology, Escend Pharmaceuticals, Terray Therapeutics, Apollomics, Astex Pharmaceuticals, Surface Ophthalmics, Pardes Biosciences, Xynomic Pharmaceuticals, AfaSci, Zevra Therapeutics, Saniona, UNION therapeutics, Tetra Pharm Technologies, Pharmacosmos, Allarity Therapeutics, Xellia Pharmaceuticals, Cyteir Therapeutics, BigHat Biosciences .
North America was the largest region in the small molecule drug discovery market in 2023. Europe is expected to be the fastest-growing region in the small molecule drug discovery market report during the forecast period. The regions covered in the small molecule drug discovery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the small molecule drug discovery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The small molecule drug discovery market consists of sales of diphenhydramine, aspirin, and other "medicine cabinet" drugs. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.