The global drug discovery services market size was US$ 9,112 million in 2021. The global drug discovery services market is forecast to grow to US$ 19,512 million by 2030 by registering a compound annual growth rate (CAGR) of 9.1% during the forecast period from 2022 to 2030.

Factors Influencing the Market

The rising demand for novel drugs will drive the growth of the drug discovery services market in the coming years. In addition, changing market dynamics and increasing demand for accurate and robust analytical testing will drive the market forward during the forecast period.

Growing investments in research and development and the rising trend of big data, artificial intelligence will offer ample growth opportunities for the market. Pfizer invested nearly US$ 7,690 million in R&D in 2016 and approximately US$ 8,650 million in 2019. Such investments are likely to propel the drug discovery services market forward.

The growing prevalence of chronic diseases will fuel the growth of the drug discovery services market. On the contrary, stringent regulatory requirements may limit the growth of the global drug discovery services market.

The rising individual spending on healthcare is forecast to benefit the market in the coming years.

COVID-19 Impact Analysis

The COVID-19 pandemic positively influenced the global drug discovery services market. Due to the wake of the pandemic, governments started focusing on the healthcare sector. The demand for novel drugs increased. Pharmaceutical companies also increased R&D activities in order to curb the spread of the virus. As a result, the drug discovery services market witnessed ample growth opportunities due to the COVID-19 pandemic.

Regional Analysis

Of all the regions, the Asia-Pacific drug discovery services market is forecast to emerge as the largest market. The growth of the market will be mainly due to the contribution of emerging economies like China, India, and Japan. In addition, China held the largest share of this market in 2020, owing to the favorable government policies to boost healthcare expenditure. In addition, the presence of leading pharmaceutical companies in the region will benefit the market. Growing research and manufacturing base, together with the rising prevalence of diseases, will contribute to the growth of the market.

Market Segmentation

The global drug discovery services market segmentation focuses on Process, Type, Drug, Therapeutic Area, Company Type, and Region.

By Process

Target Selection
Target Validation
Hit-To-Lead Identification
Lead Optimization
Candidate Validation
By Type

Medicinal Chemistry Services
Biology Services
Drug Metabolism and Pharmacokinetics
By Drug Type

Small Molecule Drugs
Biologic Drugs
By Therapeutic Area

Oncology
Central Nervous Systems
Cardiovascular
Infectious Disease
Metabolic Disorders
Others
By Company Type

Tier 1 Pharmaceutical Companies
Tier 2 Pharmaceutical Companies
Tier 3 Pharmaceutical Companies
By Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America


Competitors in the Market

Thermo Fisher Schientific
Merck KGaA
Charles River Laboratories International
GE Healthcare
Evotec
Jubilant Biosys
Covance
Genscript Biotech Corporation
Aurigene Discovery Technologies
Wuxi Apptec
Syngene
Eurofins Scientific
Laboratory Corporation of America Holdings
GVK Biosciences Private Limited
Lonza Group AG
Piramal Enterprises Ltd.
Dalton Pharma Services
Viva Biotech
Selvita
Other Prominent Players