DUBLIN–(BUSINESS WIRE)–March 18, 2022–

Global drug discovery technology market to reach $80.2 billion by 2026

Amid the COVID-19 crisis, the global drug discovery technology market estimated at US$53.3 billion in 2021 is expected to reach a revised size of US$80.2 billion by 2026, growing at a CAGR of 8.1% over the analysis period.

Several techniques such as RNA and nanotechnology interference are used for drug discovery, in turn generating opportunities for manufacturers of drug discovery technologies in new segments. The COVID-19 pandemic has caused a temporary hiatus in drug discovery clinical trials for many diseases as researchers, the healthcare industry and academia have focused on stopping the spread of the coronavirus.

However, the impact of the pandemic has led to the invention and adoption of new working methods, which have paved the way for future clinical trials. Physicians and clinical trial sponsors are very flexible in administering the virtual study and acquiring study data remotely using modern wearable medical devices.

The new advances simplify complicated procedures and overcome the lack of required professionals on site. The drug discovery market is expected to gain an edge by adopting technological advancements with the biotech and pharmaceutical sectors.

Small molecule drugs, one of the segments analyzed in the report, is expected to grow at a CAGR of 7.8% to reach US$60.2 billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Biologics segment is readjusted to a revised CAGR of 8.8% for the next 7-year period. This segment currently accounts for a 23.9% share of the global drug discovery technology market.

The growth of the market is mainly driven by the growing geriatric population globally and people over 60 are highly susceptible to chronic diseases. Effective demand for drugs from increasingly affluent patients is another factor propelling the global drug discovery market.

Additionally, advances in molecular biology, biotechnology, genomics, and nanotechnology have paved the way for increased investment in drug discovery. Additionally, the patent expiration of many blockbuster drugs is expected to provide a profitable market for existing players.

Healthcare organizations around the world are looking for drug discovery opportunities, which has already been done using the identification of active ingredients from conventional remedies. It is important to discover advanced, effective and new drugs to fight diseases, because there is an increase in many life-threatening diseases and occurrence of various health problems.

Drug discovery has recently evolved significantly with technologies such as NMR, mass spectrometry, chemotherapy, microplate readers, RANi, proteomics, gel electrophoresis, microfluidics, cell isolation nucleic acids and proteins, nanotechnology and protein and DNA chips. Thus, the drug discovery process has become very precise, more refined and less time-consuming.

Pharmaceutical organizations that are new also have the opportunity to enter the global drug discovery market through generics. Pharmaceutical companies mainly focus on drug development technologies because drug discovery has a critical role to play in the drug development cycle.

However, drug development and discovery requires a huge investment and is time-consuming, resulting in low profit margins for pharmaceuticals. Pharmaceutical manufacturers typically face an increase in expiring patents for developed drugs, which intensifies the negative impact of the long research cycle time. HTS or High Throughput Screening is a widely used drug discovery technology, using which a huge amount of possible biological modulators are screened against a defined target set.

HTS technology enables rapid portfolio building of biologically relevant compounds and HTS technology advancements such as multi-detector readers, reliable automation, pattern and database recognition software, and software and hardware imaging should be at the forefront of using HTS technology.

Drug discovery technologies have a huge role to play in the overall growth of the pharmaceutical sector, as the technologies contribute immensely to the easy initiation of innovative and successful drugs. Various diseases such as cardiovascular diseases, cancer, and CNS disorders such as Alzheimer’s disease and Parkinson’s disease have generated adequate opportunities in the drug discovery technology market.

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• Application-based market analysis
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• Competetion
• Recent market activity

2. FOCUS ON SELECT PLAYERS (Total 129 Featured)

• Affymetrix Inc.
• Agilent Technologies, Inc.
• Curia Global, Inc.
• Astrazeneca plc
• Bayer Healthcare AG
• Bio-Rad Laboratories Inc.
• Charles River International Laboratories Inc.
• Evotec AG
• GYROS PROTEIN TECHNOLOGIES AB
• Illumina, Inc.
• Luminex Corporation
• Merck KGaA
• Molecular Discovery Ltd.
• Novartis AG
• Thermo Fisher Scientific Inc.

3. MARKET TRENDS AND DRIVERS

• Late-Stage Therapeutic Failures Drive Demand for Drug Discovery Technologies
• Factors Leading to Drug Failure in Phase III Clinical Trials
• Cellular assays play a critical role in drug discovery
• Main Types of Cell-Based HTS Tests for Drug Screening
• High Content Screening (HCS) – An Expanding Technology in Cellular Testing
• High Content Filtering – Main Application Areas
• Technological advances in drug discovery processes
• Increase in demand for biochips in drug discovery to drive market growth
• Increased Demand for Personalized Medicine to Drive Drug Discovery Technology Market
• Proteomics and genomics generate opportunities for drug discovery technologies
• Proteomics profiling to accelerate drug discovery
• Other applications of proteomics in drug discovery
• Novel proteomics technique to facilitate drug screening and biomarker discovery
• Proteomics approaches are gaining importance in cancer drug discovery
• Proteomics technologies used in cancer drug discovery and development
• Role of proteomics in the discovery of biomarkers in oncology
• Better understand COVID-19 and drug discovery through proteomics
• Bioinformatics tools combined with proteomics accelerate the process of pathway prediction
• Using AI in Drug Discovery: The Latest Market Research
• High Throughput Screening (HTS) – A Key Drug Discovery Technology
• HTS: Using a smarter approach to hit discovery
• Emerging Technologies in Drug Discovery and Development
• Development and discovery of targeted drugs
• Importance of Advanced Clinical Sequencing for Drug Developers
• Metabolomics: an emerging trend in drug discovery
• Impact of ADME-Tox screening on the discovery of new drugs
• Failures of phase I clinical trials before and after the advent of ADME/preclinical pharmacokinetics
• The pharmaceutical industry renews its focus on cost optimization
• China and India: hotspots for R&D investment
• Omics technology to witness rapid growth
• Adoption of Omics-Based Technologies
• Growing demand for 3D cell culture in drug discovery

4. GLOBAL MARKET OUTLOOK

III. REGIONAL MARKET ANALYSIS

Laura Wood, Senior Press Officer

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INDUSTRY KEYWORD: HEALTH PHARMACEUTICALS

SOURCE: Research and Markets

Copyright BusinessWire 2022.

PUBLISHED: 03/18/2022 08:45 / DISK: 03/18/2022 08:47