The pharmaceutical industry is set to reap dividend from novel technologies in order to enlarge their repertoire of therapies, lessen costs and adhere to ever-changing regulatory requirements. As such, though uncertainties linger around artificial intelligence in health care, drug discovery is the field where it is garnering attention.
Recently, a partnership accord between US chip maker Intel and Swiss drug-maker Novartis empowered researchers to use ‘deep neural networks’ to cut short the time drastically for assessing microscopic images to 31 minutes from 11 hours. Novartis is not the lone company foraying into AI for drug discovery; British startup Exscientia collaborated with GlaxoSmithKline and followed the suit. The deal will witness discovery of apparently small molecule drugs for up to ten diseases.
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The British drug giant GSK further inked a research and development pact with Syngene to accelerate the discovery of new drug candidates using the discovery service platforms of the latter.
The stimulus for having machine learning and artificial intelligence in drug discovery is inevitable, as it often cost billions of dollars and takes years to bring a new drug into the market. Besides, Mount Everest-sized pile of drugs succumb to preclinical and clinical testing. Artificial Intelligence and Machine Learning, hence, offer plethora of advantages vis-à-vis traditional methods. Meanwhile, regulatory initiatives towards combinatorial chemistry technology and pharmacogenomics are few of the forthcoming trends in drug discovery services market.
Drug Discovery Services Market: Overview
The report offers a coherent analysis on the market for drug discovery services for the assessment period 2018-2026. The report also includes the dynamics surrounding the drug discovery services which have considerable impact in the growth of the market.
Furthermore, the report limns the segregation of the market which is anticipated to provide readers with an actionable insights which will aid them in taking proper decision based on segments historical and future growth estimates.
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The report focuses on cost structure and supply chain to provide a comprehensive view of the drug discovery services market. The report also includes disease epidemiology and technology roadmap along with product lifecycle. Further, PESTLE analysis gives overall picture of the drug discovery services market. The report provides a coherent assessment through average pricing analysis. The report also includes regional and country-wise assessment. The report also includes product life cycle analysis and delves into the evolution of R & D drug discovery outsourcing.
Hit-To-Lead Identification to Gain Maximum Traction
Compared to the various processes in the drug discovery services, Hit-To-Lead identification is anticipated to gain maximum traction. Hit-To-Lead identification is likely to exceed US$ 6,900 million revenue towards 2026 end. Increasing research based on the High-Throughput Screening (HTS) is the main factor driving the use of hit-to-lead identification process.
Medicinal Chemistry to be the Largest Type of Drug Discovery Services
Medicinal chemistry is projected to emerge as the largest type in the drug discovery services market. Medicinal chemistry is estimated to bring in close to US$ 6,100 million revenue. There has been an increase in the outsourcing by pharmaceutical companies, this is emerging as the driving factor. Many drug discovery services providers based in Asia are increasing their foothold in North America and Europe.
A qualitative and quantitative information has been obtained for the forecast and assessment on the drug discovery services market. The research sources include primary and secondary sources which have been further examined by in-house panel of experts. The growth of end use industries in the historical and forecast period have been estimated to aid the readers with their business investment decisions. The market size of the drug discovery services is the result of revenue comparison, market share comparison and Y-o-Y growth comparison on the geography.
Drug Discovery Services Market: Competitive Landscape
Major market players being instrumental for the growth of the drug discovery services market are profiled and assessed on the basis of company overview, financial overview, product offering, recent development, key differentiators and strategies. The report also includes SWOT analysis to provide a holistic picture of the competitive scenario of the drug discovery services market. A deep dive analysis of the major market players becomes indispensable as it will succor readers to make proper decision to enlarge their business and can comprehend strategic moves made by prominent players in the drug discovery services market. Profiles companies that are expected to remain active in the expansion of global drug discovery services market through 2026, which include Syngene, Wuxi Apptec, Aurigene Discovery Technologies, Genscript Biotech Corporation, Covance, Jubilant Biosys, Pharmaceutical Product Development, LLC. (Ppd), Evotec, Charles River Laboratories International, Albany Molecular Research, Inc. (AMRI), GE Healthcare, Merck Millipore, and Thermo Fisher Scientific, Inc.
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Drug Discovery Services Market: Small Molecules to Witness Highest Growth in Terms of Revenue
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