Drug Discovery Technologies Global Market Research Report 2024-2029: Demand for Personalized Medicine, HCS Techniques, Availability of Research Funds Driving Growth
The global market for drug discovery technologies is expected to grow from $111.9 billion in 2024 and is projected to reach $197 billion by the end of 2029, at a compound annual growth rate (CAGR) of 12% during the forecast period of 2024 to 2029.
The bioanalytical instruments market for drug discovery technologies is expected to grow from $30 billion in 2024 and is projected to reach $50.3 billion by the end of 2029, at a CAGR of 10.9% during the forecast period of 2024 to 2029.
The high-throughput screening market for drug discovery technologies is expected to grow from $25 billion in 2024 and is projected to reach $43.9 billion by the end of 2029, at a CAGR of 11.9% during the forecast period of 2024 to 2029.
This report provides detailed information on the drug discovery technologies market. This report analyzes the market trends of drug discovery technologies with data from 2023, estimates from 2024, projections of compound annual growth rates (CAGRs) through 2029 (forecast period 2024-2029), and regional markets of drug discovery technologies. This report highlights drug discovery technologies' current and future market potential and gives a detailed analysis of the competitive environment. The report covers regulatory scenarios, drivers, restraints, and opportunities. This report also covers market projections for 2029 and the market share for key market players.
Drug development and drug discovery are crucial aspects of the pharmaceutical and biotechnology sectors, driven by applying advanced technologies such as proteomics, bioanalytical, computational, and HTS. These technologies enable a mechanistic approach to lead identification, drug delivery, validation, and targeting, leading to market expansion. As businesses focus on meeting customer demands, R&D spending, growing competition, patent expirations, and new technologies are driving the market, resulting in consistent income for forward-thinking pharmaceutical and biopharmaceutical firms.
Drug development technologies, including nanotechnology and cellular imaging, focus on early-stage screening methods to identify new leads and targets for drug development. The multibillion-dollar drug discovery technology market includes pharmaceutical and biomedical research, aiming to create high-quality yet affordable medications. This includes genetic, cellular, proteomic, and systemic studies of the human body. Technology has advanced drug development, with automation, nanofluidic, imaging, software and test technologies enabling faster data acquisition and better drug candidate creation.
Technologies are being utilized in medication development to identify key lead chemicals for different cancer types. Research organizations and biopharmaceutical businesses are exploring molecular and biochemical issues to develop mechanistic techniques. Technologies like next-generation sequencing (NGS), proteomics, genomics, and HTS are being used for cellular investigation, focusing on developing mechanistic techniques for drug development.
The drug discovery industry is experiencing continued growth due to progress in biochemical, translational, and molecular studies in biomedical research. These technologies are commercially employed in the development of new and efficient drug candidates. The booming healthcare sector and increased government funding have also aided growth in this market. The delineation of mechanistic details and the underlying mechanisms of drug-target interaction have paved the way for more accurate and effective therapies.
Increasing numbers of chronic diseases are boosting the drug discovery technologies' market growth. Chronic disease affects hundreds of millions of patients globally. According to the American Hospital Association, approximately 45% of Americans, or 133 million people, suffer from one or more chronic healthcare conditions. In Europe, nearly 60 million people have more than one chronic disease. Chronic disease prevalence is expected to rise rapidly in the forecast period (2024-2029), which is expected to create a significant burden on global healthcare.
The market scope in this report is segmented into technologies and applications. Based on technologies, this report covers high-throughput screening (HTS), bioanalytical instruments, cell-based assays and reagents, genomics, bioinformatics, proteomics, and others, such as combinatorial chemistry, metabolomics, nanotechnology, and system biology. These technologies are further classified into subcategories for this report. The market is segmented based on application to oncology, cardiovascular diseases, neurodegenerative diseases, immunological diseases, and others.
The market has been segmented into North America, Europe, Asia-Pacific, and other world regions. The regional segment covers a detailed analysis of major countries such as the U.S., Canada, Germany, the U.K., Italy, Spain, France, Japan, China, South Korea, Australia, and India. For market estimates, data is provided for 2023, with forecasts for 2024 and projections for 2029.
The report includes:
104 data tables and 34 additional tables
An analysis of the current and future global markets for drug discovery technologies
Analyses of global market trends, with market revenue data (sales figures) for 2021-2023, estimates for 2024, and projected CAGRs through 2029
Estimates of the market size and revenue forecasts for the global market for drug discovery technologies, with market share analysis by therapeutics, application, end user and region
Discussion of bioinformatics as a platform for drug discovery
A comparison between proteomics and genomics drug discovery technology
Comparative assessment of pharmacokinetics and pharmacodynamics, and classification of the techniques used in drug discovery
Discussions of the market dynamics, opportunities and challenges, as well as emerging technologies
Overview of the sustainability trends and ESG developments in the industry, with emphasis on the ESG practices of leading companies, their ESG rankings, and consumer attitudes
Competitive intelligence, including companies' market shares, recent M&A activity and venture funding
Profiles of the Leading Companies in the Drug Discovery Technologies Market
Agilent Technologies Inc.
Bio-Rad Laboratories Inc.
Bruker
Charles River Laboratories
Danaher Corp.
Illumina Inc.
Promega Corp.
Qiagen
Revvity
Thermo Fisher Scientific Inc.
Key Attributes:
Report Attribute
Details
No. of Pages
192
Forecast Period
2024 - 2029
Estimated Market Value (USD) in 2024
$111.9 Billion
Forecasted Market Value (USD) by 2029
$197 Billion
Compound Annual Growth Rate
12.0%
Regions Covered
Global
Key Topics Covered:
Chapter 1 Executive Summary
Market Outlook
Scope of the Report
Market Summary
Chapter 2 Market Overview
Overview
Porter's Five Forces Analysis
Bargaining Power of Buyers
Bargaining Power of Suppliers
Potential for New Entrants
Threat of Substitutes
Competitiveness in the Industry
Chapter 3 Market Dynamics
Market Drivers
High-Content Screening (HCS) Techniques in Drug Discovery
Technological Advances
Demand for Personalized Medicine
Rising Prevalence of Chronic and Immunological Diseases
Growing Elderly Population
Availability of Research Funds
Market Restraints
Cost of the Drug Discovery Process and Instruments
Stringent Regulations
Better Understanding of Molecular Mechanisms
Market Opportunities
Potential for AI in Drug Discovery
Chapter 4 Emerging Technologies
AI
Chapter 5 Market Segmentation Analysis
Global Market for Drug Discovery Technologies, by Technology
Global Market Forecast
High-Throughput Screening (HTS)
Bioanalytical Instruments
Genomics
Proteomics
Cell-based Assays and Reagents
Bioinformatics
Other Technologies
Market for Drug Discovery Technologies, by Disease Application
Global Market Size and Forecast
Oncology
Cardiology
Neurodegenerative Diseases
Immunological Diseases
Other Diseases
Global Market for Drug Discovery Technologies, by End User
Global Market Size and Forecast
Biopharmaceutical Companies
Research and Academia
Contract Research Organizations (CROs)
Geographic Breakdown
Global Market for Drug Discovery Technologies, by Region
Chapter 6 Competitive Intelligence
Competitive Landscape
Analysis of Companies' Market Shares
SWOT Analysis
Strengths
Challenges
Opportunities
Threats
Chapter 7 Sustainability in the Drug Delivery Technologies Market: An ESG Perspective
Introduction to ESG
Sustainability in the Drug Discovery Technologies Industry
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