Dublin, Jan. 02, 2019 (GLOBE NEWSWIRE) -- The "Global Drug Discovery Market-Technologies, Market share and Industry Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
Global drug discovery market was valued at $38,356 million in 2017 and is estimated to generate net revenue of approximately $70,097 million by 2024 growing at a CAGR of 9.0% during forecast period (2017-2024).
Rising prevalence of cancer was estimated at 19 million in 1990 and reached to in 2016, 42 million individuals suffered from different types of cancer (including breast cancer, prostate, colon & rectum, lung cancer and others), as per Our World in Data.
Moreover, as per IDF (U.K.), diabetes prevalence across the globe is expected to reach 629 million by 2045, increasing from 425 million in 2017.
Thus, the prevalence of chronic diseases is expected to drive the global drug discovery market over the forecast period. Further, research and development activities is experiencing high investment from national and international organizations, government of different countries and operating companies.
For instance, as per pharma Association of the British Pharmaceutical Industry (ABPI), global pharmaceutical research and development spending estimated to be $148 billion in 2015 and is further expected to reach to $181 billion by 2022.
Increasing healthcare expenditure to fuel market growth
The rising healthcare expenditure due to rising prevalence diseases is another factor primarily driving the global drug discovery market over the forecasted years. With rising disease prevalence rates and aging population healthcare expenditure across the globe is set to intensify in coming 25 years according to International Health Metrics and Evaluation (IHME).
By 2040, global healthcare expenditure is anticipated to increase from 10.8 trillion in 2018 to $ 20.4 trillion. According to IHME, by 2040 over 9% of global GDP will be spending on healthcare sector.
High income countries are anticipated to spend over $9,019 per person on health by 2040 as compared to upper-middle income ($1,935), lower-middle income ($507) and low-income ($164) countries. Government and public healthcare services would account for over 61% of total healthcare spending across the globe by 2040. Below figure shows, rising trend in healthcare spending by institutions for period 2015-2040.
According to U.S. Centre for Disease Control and Prevention, the annual healthcare expenditure of United States was $3.3 trillion in 2017. However, Canada's expenditure for healthcare would reach to $253.2 billion in 2018 that accounts for 11.3% of Canada's gross domestic product (GDP) as per Canadian Institute of Health Information.
Moreover, healthcare expenditure in United Kingdom increased by 3.6% in 2016 as $217.47 billion from $209.9 billion in 2015 as per UK Health Accounts, 2016. Government-financed expenditure on healthcare accounted for 79.4% of total spending in the country.
Technological advancements and innovations: Growth promoter
Technological innovations and various ongoing research activities in drug discovery is promoting the market growth in forecast years. The ongoing clinical trials and research activities for developing drugs and consequently improving their quality with effective translation in clinics are leading the technological advancements in this sector.
In past years, various methodological approaches particularly in drug discovery for improving the delivery of drug candidates and their quality were adopted. Stem cell research is one of the prime examples emerging as new frontier in drug discovery techniques.
In addition, genome editing technologies such as CRISPR/Cas9 for enabling accuracy and precision in alteration of DNA chains is another technological advancement driving the market.
Adoption of AI based technologies and machine learning for mapping cellular pathways, lead optimization chemistry programs and automating histology is enhancing the effectiveness of drug discovery techniques as they have direct impact on target validation and drug discovery.
Latest innovations in drug discovery includes development of biosimulation tools found effective in predicting interaction between proteins and small molecules further revealing the drug binding ability with its target in real-life conditions. Another innovation as per the European Laboratory Research and Innovation Group (2017), is concept of organ-on-a-chip platform that harnesses the advancements in cell biology methods and microfluidic platforms to provide 3-D human tissue systems configured for replicating the physiology of organs.
This would enable researchers to analyze the drug action on organ-like tissues in microfluidic assay systems. Thus, the innovations and technological advancements promoting the drug discovery methods would be driving the market in forecasted years
Geographically, global drug discovery market has been segmented into North America, Europe, Asia Pacific and Rest of World (ROW). North America accounts the largest share in the market owing to high investment in research and development activities from federal government and operating companies. For instance, in 2015, National Science Foundation (NSF) stated that federal agencies have contributed approx. $86 billion to promote basic research on drug development across the country.
In addition, private investments on basic research reached to $24.5 billion in 2015. As per Federal Government, 45% of total population of the country is suffering from at least one chronic disease (including cancer, diabetes and others).Thus, high prevalence of chronic diseases and high investment on research and development activities is expected to drive drug discovery market in the country.
Key Topics Covered:
1.Introduction
1.1. Executive Summary
1.2. Estimation Methodology
2. Market Overview
2.1. Global Drug Discovery Market: Evolution & Transition
2.2. Market Definition & Scope
2.3. Industry Structure
2.4. Regulatory Framework
2.5. Total Market Analysis
2.5.1. Top 5 Findings
2.5.2. Top 5 Opportunity Markets
2.5.3. Top 5 Companies
2.5.4. Top 3 Competitive Strategies
2.6. Estimation Analysis
2.7. Strategic Analysis
2.7.1. Investment Vs. Adoption Model
2.7.2. 360-Degree Industry Analysis
2.7.3. Porter's 5 Force Model
2.7.4. See-Saw Analysis
2.7.5. Consumer Analysis And Key Buying Criteria
2.8. Competitive Analysis
2.8.1. Market Share Analysis & Top Company Analysis
2.9. Strategic Recommendations & Key Conclusions
2.9.1. Investment Opportunities By Regions
2.9.2. Opportunities In Emerging Applications
2.9.3. Investment Opportunity In Fastest Growing Segment
3. Market Determinants
3.1. Market Drivers
3.1.1. Prevalence Of Chronic Diseases
3.1.2. Technological Advancements And Innovations
3.1.3. Increasing Healthcare Expenditure
3.1.4. Increasing Drug Approvals By Government Organization
3.2. Market Restraints
3.2.1. Stringent Government Regulations
3.2.2. Huge Capital Investment With Low Profit Margins
3.3. Market Opportunities
3.3.1. Enhancement In Population Of Affluent Patients
3.3.2. Rise In Drug Discovery Outsourcing
3.4. Market Challenges
3.4.1. High Amount Of Investment
3.4.2. Requires A Long Time Span
4. Global Drug Discovery Market By Drug Type
4.1. Market Definition And Scope
4.2. Decision Support Database & Estimation Methodology
4.3. Comparative Analysis Across Market Segments
4.4. Opportunity Matrix
4.5. Market Segmentation
4.5.1. Global Small Molecule Drug Market
4.5.2. Global Biologics Drug Market
5. Global Drug Discovery Market By Technology
5.1. Market Definition And Scope
5.2. Decision Support Database & Estimation Methodology
5.3. Comparative Analysis Across Market Segments
5.4. Opportunity Matrix
5.5. Market Segmentation
5.5.1. Global High Throughput Screening Market
5.5.2. Global Biochips Market
5.5.3. Global Bioinformatics Market
5.5.4. Global Pharmacogenomics And Pharmacogenetics Market
5.5.5. Global Combinatorial Chemistry Market
5.5.6. Global Nanotechnology Market
5.5.7. Global Spectroscopy Market
5.5.8. Global Metabolomics Market
5.5.9. Global Other Technologies Market
6. Global Drug Discovery Market By Service
6.1. Market Definition And Scope
6.2. Decision Support Database & Estimation Methodology
6.3. Comparative Analysis Across Market Segments
6.4. Opportunity Matrix
6.5. Market Segmentation
6.5.1. Global Drug Metabolism And Pharmacokinetics (Dmpk) Services Market
6.5.2. Global Pharmaceutical Services Market
6.5.3. Global Chemical Services Market
6.5.4. Global Biological Services Market
7. Global Drug Discovery Market By End User
7.1. Market Definition And Scope
7.2. Decision Support Database & Estimation Methodology
7.3. Comparative Analysis Across Market Segments
7.4. Opportunity Matrix
7.5. Market Segmentation
7.5.1. Global Research Institutes Market
7.5.2. Global Pharmaceutical Companies Market
7.5.3. Global Biotechnology Companies Market
7.5.4. Global Other End Users Market
8. Competitive Landscape
8.1. Key Strategies
8.1.1. List Of Merger & Acquisition
8.1.2. List Of Joint Venture
8.1.3. List Of Product Launches
8.1.4. List Of Partnership
9. Geographic Analysis
9.1. Decision Support Database & Estimation Methodology
9.2. Comparative Analysis Across Market Segments
9.3. Opportunity Matrix
9.4. Global Drug Discovery Market By Region 2015-2024 ($ Million)
10. Company Profiles
- Albany Moleculer Research (U.S.)
- Astrazeneca (U.K)
- Bayer (Germany)
- Boehringer Ingelheim (Germany)
- Covance. (U.S.)
- Cyprotex. (U.K.)
- Eli Lily (U.S)
- Genscript (U.S)
- Glaxosmithkline Plc (UK)
- Johnson And Johnson (U.S)
- Pfizer, Inc. (U.S.)
- Quintiles (U.S)
- Viva Biotech (China)
- WIL Research Laboratories (U.S.)
- WuXi Apptech (China)
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