Global Drug Discovery Technologies Market to Reach $80.2 Billion by 2026

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Feb 18, 2022, 12:00 ET

SAN FRANCISCO, Feb. 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Drug Discovery Technologies - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
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Drug Discovery Technologies - FEB 2022 Report

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Edition: 20; Released: February 2022
Executive Pool: 11069
Companies: 129 - Players covered include Albany Molecular Research, Inc.; AstraZeneca plc; Bayer AG; Boehringer Ingelheim GmbH; Covance, Inc.; Eli Lilly and Company; Evotec AG; GenScript USA, Inc.; GlaxoSmithKline PLC; Johnson & Johnson; Pfizer, Inc.; Viva Biotech (Shanghai) Ltd.; WuXi AppTec and Others.
Coverage: All major geographies and key segments
Segments: Type (Small Molecule Drugs, Biologics); Technology (High Throughput Screening, Biochips, Bioinformatics, Pharmacogenomics & Pharmacogenetics, Nanotechnology, Other Technologies); End-Use (Research Institutes, Pharmaceutical Companies, Biotechnology Companies, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Drug Discovery Technologies Market to Reach $80.2 Billion by 2026

Drug discovery assists in discovering new medications by using a broad range of technologies that are used for research and the introduction of new drugs. Extensive usage of therapeutics in different diseases created the requirement in drug discovery. Several techniques like RNA and nanotechnology interference are being utilized for drug discovery, in turn generating opportunities for the manufacturers of drug discovery technology in new segments. The COVID-19 pandemic caused a temporary break in drug discovery clinical trials of many diseases because the researchers, healthcare sector, and academia concentrated on stopping the spread of coronavirus. However, the pandemic's impact led to the invention and adoption of new working ways, which paved a path for future clinical trials. Clinical trial physicians and sponsors are highly flexible in administering virtual study and acquiring the study data remotely utilizing modern medical wearables. The new advancements are simplifying the complicated procedures and overcoming the lack of required onsite professionals. The drug discovery market is anticipated to gain an advantage by adopting technological advancements together with the biotechnology and pharmaceutical sectors.

Currently, scientists typically rely on animal models for analyzing the reagent's effects on humans. In contrast to in-vitro cell studies, animal models provide the benefit of the drug being tested inside a living organism. This offers scientists with vital information on how the drug would interact with the targeted cells as well as its overall systematic effect on the living body. However, it has been observed many times during the drug development process that the drug that works well in mice does not have the same effect on humans. This is because animal testing is based on non-human pathogens and cellular structure, which may not entirely replicate the pharmacological response in humans. In recent years, scientists have tried introducing human cells into animal models, but this requires the animal to have a weak immune system for preventing the human cells to get rejected. This significantly compromises the study results as they do not factor in the role of the immune cells, which are major actors in several diseases. In addition, the injected human cells interact with the animal model's cellular microenvironment, thereby not providing a clearer picture of how the drug would interact in an all-human cellular environment. In contrast to animal testing, cell studies can be performed using only human cells. While these studies help in avoiding the discrepancies arising due to extrapolation of test results from animal models to humans, they currently fall short in accurately predicting the drug's response in humans. In the past few years, 3D cell culture technology has been rapidly evolving as means for improving the predictive power of cell studies as compared to animal testing. Several advanced 3D cell culture products have already been introduced for drug discovery. Moreover, organoids, spheroids, and organs-on-chips are also being extensively used for the purpose of disease modeling in academic institutes. In recent years, 3D cell culture is also gaining traction in pharmacological settings for applications, including drug screening, drug toxicity, and pharmacokinetics testing.

Amid the COVID-19 crisis, the global market for Drug Discovery Technologies estimated at US$57.4 Billion in the year 2022, is projected to reach a revised size of US$80.2 Billion by 2026, growing at a CAGR of 8.1% over the analysis period. Small Molecule Drugs, one of the segments analyzed in the report, is projected to grow at a 7.8% CAGR to reach US$60.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Biologics segment is readjusted to a revised 8.8% CAGR for the next 7-year period. This segment currently accounts for a 23.9% share of the global Drug Discovery Technologies market.

Growth in the market is majorly driven by the growing geriatric population worldwide and people above 60 years of age are highly susceptible to chronic illnesses. The efficient drug demand from increasing affluent patients is yet another factor propelling the drug discovery global market. Furthermore, the advancements in molecular biology, biotechnology, genomics, and nanotechnology paved a path for increasing investments in drug discovery. Additionally, many blockbuster drugs' patent expiries are anticipated to make a profitable market for the existent players. Healthcare organizations worldwide are seeking drug discovery opportunities, which have been previously done using active ingredient identification from conventional remedies. It is important to discover advanced, efficient, and new drugs to fight illnesses, as there is an increase in many life-threatening illnesses and the inception of various health-related problems. The drug discovery recently has evolved significantly with technologies like NMR, mass spectrometry, chemotherapy, microplate readers, RANi, proteomics, gel electrophoresis, microfluidics, nucleic acid and protein isolation, nanotechnology, and protein and DNA microarrays. Thus, drug discovery process has become highly accurate, more refined, and less time-consuming.

Pharmaceutical organizations that are new, too, have the opportunity to launch into the drug discovery global market through generics. Pharmaceutical companies are primarily focusing on the technologies of drug development because drug discovery has a critical role to play in the cycle of drug development. However, drug development and discovery require a colossal investment and are time taking, which causes low-profit margins for pharmaceuticals. Pharmaceutical manufacturers generally face an increase in expiring patents of developed drugs, intensifying the negative impact of the research cycle's long duration. HTS or high-throughput screening is an extensively utilized drug discovery technology, using which a huge quantity of possible biological modulators are analyzed against a defined target set. HTS technology allows biologically relevant compounds' rapid portfolio building and HTS technological advancements like multidetector readers, reliable automation, pattern and database recognition software, and imaging software and hardware are anticipated to lead the HTS technology usage. Drug discovery technologies have a huge role to play in the pharmaceutical sector's overall growth, as the technologies immensely contribute to the innovative and blockbuster drugs' easy initiation. Diverse illnesses like CVD, cancer, and CNS disorders like Alzheimer's and Parkinson's generated adequate opportunities in the drug discovery technologies market.

The U.S. Market is Estimated at $17.4 Billion in 2022, While China is Forecast to Reach $12.7 Billion by 2026

The Drug Discovery Technologies market in the U.S. is estimated at US$17.4 Billion in the year 2022. The country currently accounts for a 31.12% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$12.7 Billion by the year 2026 trailing a CAGR of 10.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.3% and 6.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.9% CAGR.

The rise in late-stage drug failure rates is driving the demand for drug delivery technologies. The average cost of drug development has doubled in recent years to reach over US$2.6 billion. By therapeutic area, oncology and immuno-modulatory drugs are the most expensive to develop. While oncology treatment continues to dominate the existing and future drug pipelines, R&D investments on metabolic disorders, cardiovascular diseases, and respiratory diseases is gaining strength in recent years. As oncology trials require specific trial design expertise, the likelihood of attrition rates tends to be high. As new drug development is focused on the need to target many smaller subsets of indications, clinical trials are conducted on smaller patient population. A smaller market to recover R&D costs, reimbursement issues, and pushback on high drug costs further increase the average cost of drug development. Despite the scientific, technological, and operational advances in R&D aimed at increasing the efficiency and success of drug development process, a significant number of clinical trials still fail. As the early phase of clinical trials are exploratory, failure at this stage is expected to a certain extent. Failure represents the highest cost of the overall cost of drug development. Clinical trial failures may also arise when the body of knowledge about a disease or condition is limited, particularly rare diseases. Also, the rollout of more complex and extensive clinical trials is another critical factor increasing the late-stage failure rates. The cost of failed clinical trials is high, and the burden placed on ways to reduce the continuously high failure rate provides impetus for drug discovery technologies market. More

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