The study involved four major activities in estimating the current size of the drug discovery services market. Exhaustive secondary research was done to collect information on the market and its different subsegments.
The research methodology used to estimate the market size includes the following:
# The key players in the industry and markets have been identified through extensive secondary research.
# The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
# All percentage shares split, and breakdowns have been determined using secondary sources and verified through primary sources.
The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
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Report Objectives:
# To define, describe, and forecast the drug discovery services market based on process, type, drug type, therapeutic area, company type, and region.
# To provide detailed information regarding the major factors influencing market growth (such as drivers, restraints, opportunities, and trends).
# To strategically analyze micro-markets for individual growth trends, prospects, and contributions to the overall market.
# To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders operating in the market.
# To forecast the size of the market segments in four geographical regions, namely, North America, Europe, the Asia Pacific, and Rest of the World.
# To profile the key players and comprehensively analyze their services portfolios, market positions, and core competencies.
# To track and analyze competitive developments such as service launches, partnerships, collaborations, agreements, expansions, and acquisitions in the market.
North America is expected to command the largest share of the drug discovery services market in 2020.
Based on the region, the global drug discovery services market is segmented into North America, Europe, the Asia Pacific, and Rest of the World. In 2020, North America is expected to command the largest share of the drug discovery services market. The large share of this market segment can be attributed majorly to the presence of well-established CROs, rising R&D expenditure by pharmaceutical & biopharmaceutical companies, and the availability of latest techniques, instruments, and facilities for drug discovery research.
Key Questions Addressed in the Report:
# What are the growth opportunities in the market across major regions in the future?
# Emerging countries have immense opportunities for the growth and adoption of drug discovery services. Will this scenario continue during the next five years?
# What are the various drug discovery services and their respective market shares in the overall market?
# What are the new trends and advancements in the market?
The major players operating in this market Laboratory Corporation of America Holdings (US), Albany Molecular Research, Inc. (US), Charles River Laboratories International, Inc. (US), Evotec SE (Germany), Eurofins Scientific (Luxembourg), WuXi AppTec (China), GenScript Biotech Corporation (China), Thermo Fisher Scientific, Inc. (US), Pharmaceutical Product Development, LLC (US), Syngene International Ltd. (India), and Selvita S.A. (Poland) among others.
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Drug discovery services are provided by contract research organizations (CROs) to pharmaceutical companies (pharmaceutical companies outsource these services to CROs).
The drug discovery services market is fragmented and is dominated by various players as per the segments.
Recent Developments:
# In 2019, Charles River (US) and CHDI Foundation, Inc. (US), Extended collaboration on drug discovery and development for Huntington’s Disease by five years.
# In 2019, Laboratory Corporation of America Holdings’s (US) opened the Covance Drug Development segment opened a new R&D Center in Shanghai, China—its largest facility in the Asia Pacific. This will help the company to grow its business in China and the APAC.
