Following are the Major Driving Factors for Drug Discovery Services Industry:
Increasing research and development investments made by pharmaceutical and biopharmaceutical companies, growing R&D pipeline for pharmaceutical drugs influencing the growth in demand for outsourcing the analytical testing services, global initiatives made for research on rare disease and orphan drugs, and maximized cost of in-house development of drugs are driving the growth for market.
Also, technological advancements, the introduction of new drug discovery techniques, the expiry of patents, and rising demand for specialized testing services among end users are expected to offer growth opportunities to players in this market. However stringent regulation concerning animal use for drug discovery and the shortage of skilled professionals prove to be an restraint and challenge for drug discovery service providers.
Emerging Tech Advances:
Next-generation Proteomics: Proteomics technologies such as mass spectrometry are being considered powerful tools to deliver significant insights across every stage of the oncology drug discovery pipeline—for instance, helping uncover and validate novel drug targets, helping to understand drug mechanisms of action, and helping identify novel diagnostic, prognostic, or predictive biomarkers, etc.
3D Bioprinting to create Advanced Drug Models: 3D-bioprinting technology is considered a powerful tool for building tissue and organ structures for drug discovery. In general, bioprinting uses a 3D printer to accurately deposit cells and biomaterials into precise geometries to create anatomically correct biological structures. While traditional 3D printing uses metals, plastics, and polymers, bioprinting deals with living cells and biological matrices. Hence, there are significant challenges to transitioning from traditional 3D printing to bioprinting and ultimately achieving functional outcomes in bioprinted tissues.
Lab Robotization and Automation: Several companies are investigating lab automation and robotization with the help of AI for drug discovery. These include Strateos (US), Emerald Cloud Lab (US), and Arctoris Pte Ltd (Singapore), which are focused on AI-driven automated and robotized labs for drug discovery.
Quantum Theory and Quantum Computing: The traditional computational method for modeling in synthetic and organic chemistry, medicinal chemistry, and drug design is molecular mechanics (MM). However, molecular mechanics has some limitations when studying electron-based properties within the drug-receptor microenvironment.
Cell-free DNA for Drug Discovery & Development: Cell-free DNA (cfDNA) will be central in identifying protein targets in the oncology area, assessing the efficacy of drugs targeting them in clinical trials, and identifying optimal combination therapies.
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Geographical Growth Scenario:
The Asia Pacific region is the fastest-growing region of the drug discovery services market in 2022.
It’s important to note that these geographical growth scenarios are influenced by various factors, including economic conditions, regulatory frameworks, government policies, research infrastructure, and collaborations between industry and academia. The exact growth trajectory may vary over time as these factors evolve, and new regions or countries may emerge as significant players in the global drug discovery services industry.
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About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
