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Drug Discovery Services Market Size
- Report ID: GMI6004
- Published Date: Jun 2023
- Report Format: PDF
Drug Discovery Services Market Size
Drug Discovery Services Market size accounted for USD 16.3 billion in 2022 and is estimated to grow at 14.1% CAGR between 2023 and 2032. Increasing R&D investments by government as well as by private players for novel drug discovery and development coupled with growing demand for novel therapies. For instance, in 2021, according to the Congressional Budget Office report, in 2019, the pharmaceutical sector spent USD 83 billion in R&D activities for development of novel therapies.
Drug discovery services refer to specialized services encompass a range of activities and expertise required to identify, optimize, and develop potential drug candidates for evaluation and clinical testing. These drug discovery services help pharmaceutical and biotechnology companies augment their internal capabilities, access specialized expertise, accelerate the drug discovery process, and mitigate risks associated with developing new therapies.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Drug Discovery Services Market Size in 2022: | USD 16.3 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 14.1% |
| 2032 Value Projection: | USD 61.6 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 180 |
| Tables, Charts & Figures: | 332 |
| Segments covered: | Process, Type, Drug Type, Therapeutic Area, End-user, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Drug Discovery Services Market Scope
