The drug discovery services market size is expected to reach US$ 109.61 Billion by 2032.
The drug discovery services market is expected grow at a CAGR of 15.6% between 2023 to 2032.
Patients and healthcare providers are seeking novel therapies with improved efficacy and safety profiles, driving the drug discovery services market.
The drug discovery services market size was estimated to be US$ 25.72 Billion in 2022.
The largest service type in the global drug discovery services market is Biology Services. Biology services are critical in the early stages of drug discovery, as they play a crucial role in identifying and validating potential drug targets and evaluating the biological activity of drug candidates.
The United States dominates the global drug discovery services market. North America has a well-established pharmaceutical and biotechnology industry, with major players headquartered in the U.S. There is a high level of investment in research and development (R&D) in drug discovery, driven by robust funding, technological advancements, and a favorable regulatory environment.
The global drug discovery services market segmented on the basis of Service Type, Drug Type, End User, Therapeutic Area and Region.
Albany Molecular Research Inc., Charles River Laboratories International Inc., Covance Inc., Domainex Ltd., Evotec SE, GenScript Biotech Corporation, GVK Biosciences Pvt. Ltd., IQVIA Holdings Inc., Jubilant Biosys Ltd., Lonza Group Ltd., Merck KGaA ,PerkinElmer Inc., Pharmaron Inc., Syngene International Ltd., WuXi AppTec Co. Ltd. among others, are the major players in this market.
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