Drug discovery services have undergone a drastic change with the advancements in modern molecular biology methods and advanced knowledge of human genome. Drug discovery is becoming more hypothesis-driven target-based approach. Pharmaceutical companies and regulatory bodies are contributing to the drug discovery. Major pharmaceutical companies are also focusing on developing the team of excellent scientists working in many therapeutic fields and technologies.
Read Report Summary: https://www.factmr.com/report/375/drug-discovery-services-market
In the recent years, there has been an increase in a number of approvals for first-in-class drugs, this reflects the impact of advanced drug discovery technologies, and approaches. Drug discovery service providers are also focusing on sequencing of the human genome in order to open the way to genomics-based methods in drug discovery. Innovation currently seen in the drug discovery methods is based on more information about targets, disease phenotypes, and compounds.
The report compiled by Fact.MR expects the global drug discovery services market is to witness robust growth, registering CAGR of 8.9% during 2017-2026. By the end of 2026, the global drug discovery services market is projected to reach US$ 16,800.1 million revenue. Increasing prevalence of chronic diseases and new diseases is driving the drug discovery services. Also, new technologies supporting drug discovery methods and techniques are evolving at a significant phase. Following are insight on how the global drug discovery services market will perform in the near future.
Request for Report Methodology: https://www.factmr.com/connectus/sample?flag=RM&rep_id=375
North America is likely to remain dominant in the global drug discovery services market throughout the forecast period 2017-2026. Presence of leading pharmaceutical companies in the region is one of the factors driving the growth of drug discovery services in North America. Asia Pacific Excluding Japan (APEJ) is also anticipated to witness significant growth during 2017-2026. India and China are slowly becoming preferred locations for drug discovery outsourcing due to the technological capabilities developed. Fewer regulations and low manufacturing costs are also fueling the growth in APEJ region.
Small molecules are anticipated to be the largest drug type in the global drug discovery service market. Small molecules are projected to create an incremental opportunity of more than US$ 5,800 million between 2017 and 2026. On the basis of therapeutic area, highest growth is expected to be seen in oncology. Oncology is projected to reach nearly US$ 7,000 million revenue towards the end of 2026.
For a broader and insightful view of the competition landscape, request for the Sample report: https://www.factmr.com/connectus/sample?flag=S&rep_id=375
Fact.MR’s methodology is robust and comprehensive. We employ a range of tools and assets to develop an all-encompassing coverage of a range of industries. We compile data points at local, country, regional, and global level – our approach to capturing the finest nuances, without losing sight of the bigger picture helps us in developing accurate and reliable forecasts and estimates.
Fact.MR has a standard set of guidelines and standards that help maintain a level of consistency across all of our research offerings. The standardization includes step-by-step documentation of the methodologies and guidelines on the sources that are to be used for incorporation of objective and accurate data.
The standardization also involves use of industry-wide analytical tools, and rigorous quality checks to validate market forecasts and sizes. Our unwavering focus on standardization ensures that clients receive the same quality of research and analysis that Fact.MR is known for.
11140 Rockville Pike
Rockville, MD 20852