Global Drug Discovery Service Market Size is Expected to Reach $25.29 Billion by 2028

Drug discovery services refer to the process of searching and developing new drugs in the field of pharmaceutical research through a series of scientific research and technological means. This process covers the entire process from basic biological research, exploration of disease mechanisms, design, synthesis, screening, and optimization of new drug molecules, to preclinical and clinical trials. The goal of drug discovery services is to discover and develop safe, effective, and quality-controlled new drugs to meet medical needs and improve human health.

Introduction to the Classification of Drug Discovery Services

Target-based drug discovery

This method typically starts from known disease-related genes or proteins, designing and developing drugs that can bind to them and regulate their function. This requires a deep understanding of the molecular mechanisms of diseases.

Phenotypic-based drug discovery

This method focuses on observing and analyzing the external characteristics (i.e. phenotypes) exhibited by diseases in organisms and then searching for drugs that can improve these phenotypes. This method relies more on high-throughput screening techniques.

Structure-based drug discovery

This method utilizes computer simulation and molecular modeling techniques to predict the interaction between drug molecules and target proteins, thereby designing and optimizing drug structures. This method typically requires advanced computing techniques and specialized software tools.

Drug discovery based on high-throughput screening

This method utilizes automated equipment and technology to quickly screen the activity of a large number of compounds to find potential therapeutic drug candidates.

Drug discovery based on artificial intelligence

In recent years, with the rapid development of artificial intelligence technology, its application in drug discovery has become increasingly widespread. Algorithms based on machine learning and deep learning can help researchers analyze and predict the biological activity of compounds more effectively, accelerating the process of drug discovery.

Overview of Market Development and Analysis of Competitive Landscape
With the continuous progress of technology and the increasing demand for medical care, the drug discovery service market is showing a booming trend. More and more enterprises and research institutions are investing in this field, driving rapid market expansion. According to our research data, the global market size of drug discovery services reached $14.40 billion in 2023. In the coming years, with the continuous expansion of the global healthcare market and the intensification of the aging population trend, the demand for drug discovery services will continue to grow. It is expected that by 2028, the global market size for drug discovery services will increase to $25.29 billion.
From the perspective of market competition, the concentration of the global drug discovery service market is low. Data shows that in 2023, the top 3 companies in the industry achieved a total revenue of $2101 million in the drug discovery service market, with a total revenue share of only 14.59%. The top three companies were Charles River Laboratories, Wuxi Apptec, and Covance. In 2023, these three companies accounted for 8.53%, 4.27%, and 1.79% of the global market revenue in drug discovery services, respectively.
Global Drug Discovery Service Market Size Forecast and Competitive Landscape Analysis 

Global Drug Discovery Service Market Size Forecast and Competitive Landscape Analysis
Source: www.globalmarketmonitor.com

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