Ongoing advancements in
technology has led to a significant transformation in the
pharmaceutical industry. With the growing prevalence of various diseases,
scientists in pharmaceutical companies are focusing on developing effective
treatment solutions. In order to offer better patient care, scientists are
developing medications that shorten the
treatment process. In addition, leading manufacturers are focusing on utilizing
molecular biomarkers, which helps the scientists in understanding the
preclinical and clinical information better. On the account of this, scientists
in various pharmaceutical companies can develop effective drugs and therapies.
In order to attain a
competitive edge in the global market, leading companies are focusing on incorporating
innovative and advanced technological solutions. Scientists in major companies
are adopting technological solutions such as fluorescence polarization,
combinatorial chemistry technology, pharmacogenomics, and label-free
techniques. Through development of
innovative medications and therapies, pharmaceutical companies are focusing on
expanding the customer base.
Over
US$ 16,000 Mn Opportunity in Global Drug Discovery Services Market
According to Fact.MR, the global
drug services discovery market is expected to reach a value of over US$
16,000 Mn by 2026-end. Growing prevalence of various diseases such as
cardiovascular, gastrointestinal, and chronic diseases has led to a surge in demand for effective treatment and
medications. Major pharmaceutical companies are focusing on incorporating
advanced technological solutions that offers accuracy while developing effective
medications for various diseases. As treatment of cancer among individuals
continue to remain a significant challenge in the healthcare industry, major
manufacturers are concentrating on developing medications with small molecules.
In addition, scientists are utilizing cutting-edge
drug development technologies such as pharmacogenomics and combinatorial
chemistry technology for accuracy during drug development process. With the
adoption of these drug development technologies, scientists can develop drugs
central to the growing health conditions and requirements of patients. To
remain in the forefront of the global market, major pharmaceutical companies
are focusing on developing innovative medications and therapies.
As the need for developing
effective medications and therapies persist, scientists in major pharmaceutical
companies are focusing on opting for the hit-to-lead
identification process. In terms of revenue, the hit-to-lead identification
process is expected to witness the highest growth in the global market by 2026-end.
Demand for drug discovery services will continue to remain high for medicinal
chemistry. By 2026-end, medicinal chemistry is expected to generate significant
revenue growth in the global market. Also, with the surge in outsourcing of
these services by pharmaceutical companies will also continue to contribute
towards demand for medicinal chemistry drug discovery services.
With the growing demand for
effective medicines for diseases such as cancer, scientists are focusing on
developing small molecule medicines. In terms of revenue, small molecule drug
type is expected to witness significant revenue growth in the global market by
2026-end. As these medicines are well-defined and simple, demand for small
molecule medicines will continue to remain high in the global market. Demand
for effective medications will be high for therapeutic areas such as oncology.
By 2026-end, oncology will witness a robust revenue growth in the global
market.
Leading players in the
global market are Merck Millipore, Thermo Fisher Scientific, Inc., GE
Healthcare, Charles River Laboratories International, Albany Molecular
Research, Inc. (AMRI), Evotec, Jubilant Biosys, Pharmaceutical Product
Development, LLC. (Ppd), Covance, Aurigene Discovery Technologies, Genscript
Biotech Corporation, Syngene, and Wuxi Apptec.
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