Worldwide Latest Market Research Report on “Global Small Molecule Drug Discovery Market – Segmented by Therapeutic Area, by Process Phase, and Geography – Growth, Trends, and Forecast (2019 – 2023) 2019-2023”
The Global Small Molecule Drug Discovery market with CAGR of 6.8% 2019-2023. The report begins from overview of Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Small Molecule Drug Discovery by product, region, and application, in addition, this report introduces market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.
Competitor Analysis: by product types, market share, applications, sales, and revenue.
- Pfizer Inc.
- Bristol- Myers Squibb
- Merck & Co.
- Boehringer Ingelheim GmbH
- Johnson & Johnson
- Gilead Sciences Inc.
- Teva Pharmaceuticals
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Overview of Small Molecule Drug Discovery Market:
The global small molecule drug discovery market is expected to witness a CAGR of 6.8% during the forecast period (2019-2023). North America dominates the market due to a rise of chronic disease in that region.
Rise in Demand for Small Molecule Drugs
Small molecule drugs accounted for 84% of the total pharmaceutical industry revenue in 2014. In 2015, a total of 45 new molecular entities were approved in the United States, out of which 33 were small molecules. The versatility of small molecule drugs, which can range from global blockbusters to targeted therapies to orphan drugs, and their ability to be formulated into pills and tablets are driving the demand for these drugs. There has been an increase in the number of Contract Development and Manufacturing Organizations (CDMO) entering the pharmaceutical industry. CDMOs that focus on the development of small molecules are experiencing a significant growth in the industry. In 2015, the revenues of Contract Research Organizations (CROs) and CDMOs, focusing on the development of small molecules, increased by 15-20%. CROs and CDMOs play a critical role in the drug discovery process as most of the key development activities are achieved by outsourcing them to contract organizations. The resultant rise in demand for small molecule drug will drive the market in forecast years.
Additionally, the dominance of small molecules in the market, small molecules in the treatment of chronic diseases, and the high R&D expenditure on small molecule drugs are fuelling the growth of global small molecule drug discovery market.
High Drug Development Cost
On an average, the cost of drug development scales between USD 1.5-3 billion and averages around USD 2.6 billion. This high cost of drug development is a result of the high failure rate of experiments and a relatively lower efficiency figures involved in the initial phases of drug discovery. As per data reported by Centers for Medicare & Medicaid Services in December 2015, drug development cost for Medicares Sovaldi was around USD 3.1 billion, and for Nexium, the figure was close to USD 2.6 billion. Most of the small molecule drug discovery cost lies in the same bracket. Thus, developing such drugs always involves high costs, which cannot be borne by new entrants or small-scale laboratories, this is limiting the market scope.
Additionally, strict regulations are also restraining the growth of global small molecule drug discovery market.
North America is dominating the market
The North America market occupies the largest share of the global market owing to its high investments in drug discovery activities. Some estimates indicate that 64% of all research on new drugs approved in the last ten years was done in the United States. This shows that the United States is focusing on R&D activities to meet the increasing demands of its citizens, ultimately leading the market of North America.
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Reasons to Purchase this Report
The Global demand for Small Molecule Drug Discovery Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2019 and 2025 compared to a few years ago, signifying the rapid pace of change.
Global Small Molecule Drug Discovery Market highlights the following key factors:
- A complete informative analysis of Small Molecule Drug Discovery industry, which includes a valuation of the parental market.
- Emerging trends by sections and regional markets.
- Major developments in market dynamics & market overview.
- Small Molecule Drug Discovery Market shares and methods of key players in the Small Molecule Drug Discovery market.
- Current and predictable size of Small Molecule Drug Discovery market from the outlook of both value and volume.
- Reporting and estimation of recent industry developments.
- References to companies for establishment their position in the Small Molecule Drug Discovery market.
Small Molecule Drug Discovery Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Small Molecule Drug Discovery Market players in detail. Small Molecule Drug Discovery Market report gives key bits of Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.
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The growth of this market worldwide is subjected to various factors; including consumer world-class Small Molecule Drug Discovery Market of many Small Molecule Drug Discovery Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
In conclusion, Small Molecule Drug Discovery Market report presents the descriptive analysis of the parent market based on elite players, present, past and futuristic data that will serve as a profitable guide for all the Small Molecule Drug Discovery Market competitors.
Mr. Ajay More
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