The Drug Discovery Services Global Market Report 2023 by The Business Research Company, provides drug discovery services market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Drug Discovery Services Global Market Report 2023, the global drug discovery services market size is expected to grow from $14.22 billion in 2022 to $16.15 billion in 2023 at a compound annual growth rate (CAGR) of 13.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the drug discovery services market is expected to grow to $26.06 billion in 2027 at a CAGR of 12.7%.

The growing focus on drug discovery trials is expected to propel the drug discovery services market. The drug development life cycle is critical for ensuring safe and effective drug delivery. Due to this, clinical trials are gaining prominence as an essential component of drug development. With the increasing importance of drug development and innovation in healthcare, the demand for drug discovery trials worldwide has increased.

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The drug discovery services market is segmented:

1) Drug Discovery Services Market By Type: Chemistry Services, Biology Services

2) Drug Discovery Services Market By Process: Target Selection, Target Validation, Hit-to-Lead Identification, Lead Optimization, Candidate Validation

3) Drug Discovery Services Market By Drug Type: Biologics Drug , Small Molecule Drug

4) Drug Discovery Services Market By End user: Pharmaceuticals and Biotechnology Companies, Academic Institutes, Other End Users

The prevailing trend in the drug discovery services market revolves around transformative technological advancements. Major players in the drug development services sector are increasingly recognizing the market's appetite for the integration of robotics and automated screening to augment the pace of drug discovery comprehensively. This technological leap not only meets market demands but positions key companies to wield a competitive advantage. A compelling illustration of this is evident in the actions of Arctoris Ltd., a prominent UK-based tech-enabled platform company steeped in biotechnology, robotics, and data science for accelerated drug discovery. In February 2021, they introduced Ulysses, a fully automated robotic platform designed to furnish high-quality data, thereby expediting the drug discovery process. Ulysses, with its automated prowess, swiftly generates dependable, measurable, and meticulously auditable datasets, empowering informed decision-making at the early stages of drug discovery. This integration of advanced technology not only addresses market needs but showcases how automated platforms can revolutionize and expedite drug discovery efforts significantly.

The drug discovery services market report table of contents includes:

1. Executive Summary

2. Drug Discovery Services Market Characteristics

3. Drug Discovery Services Market Trends And Strategies

4. Drug Discovery Services Market - Macro Economic Scenario

5. Drug Discovery Services Market Size And Growth

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26. Africa Drug Discovery Services Market

27. Drug Discovery Services Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Drug Discovery Services Market

29. Drug Discovery Services Market Future Outlook and Potential Analysis

30. Appendix

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