The global market for drug discovery technologies is expected to reach $79.5 billion in 2019
(PRWEB) April 02, 2015
Wellesley, Mass., April 2, 2015 – BCC Research (http://www.bccresearch.com) reveals in its new report on drug discovery technologies that notable advances in technology have been influencing all aspects of drug discovery and development in the past three decades. These include identification of areas for research through increasing the value of new commercial drugs. The requirement to collect and scientifically analyze data of growing intricacy is also on the rise at each step of the drug discovery process.
In 2013, North America had sales of around $15 billion in the global market for drug discovery technologies, which is projected to grow to $32 billion in 2019, rising at a 12.6% compound annual growth rate (CAGR) from 2014 through 2019. Europe could reach about $23.9 billion in 2019 from about $12.4 billion in 2013. Emerging markets generated nearly $12.2 billion in 2013, which can reach $23.6 billion in 2019, growing at a CAGR of 10.5% from 2014 through 2019.
Technologies such as metabolomics, combinatorial chemistry, systems biology and nanotechnology are increasingly being utilized in drug discovery for better and superior results. These technologies – in combination with genomics, proteomics, cell-based assays and so forth – are expected to transform the drug discovery process, which is the most time- and cost-consuming step in the entire drug development lifecycle.
“Drug discovery technologies have a broad range, but these are incomplete without reference to the bioanalytical instruments that are used in many of the drug discovery techniques,” says BCC Research analyst Shalini S Dewan. “Major advancements in chromatographs, mass spectrometers, electrophoresis systems, microscopes, image recognition and particle characterization and other tools and instruments have directly and indirectly influenced the progress in the drug discovery technologies.”
Today, the pharmaceutical and biopharmaceutical industries rely on technologies such as high-throughput screening (HTS), proteomics, genomics, assays and so forth for the discovery of targets for drug discovery. These technologies and related products help speed up the discovery process along with providing easier means to identify correct targets/hits among numerous false hits, simpler validation and, eventually, high-end development processes.
Drug Discovery Technologies summarizes the market movement and innovations in the drug discovery technologies industry and emphasizes the requirement for integrated technological innovations for correct target identification. Forecasting is carried out for 2014 through 2019, analyzing for the regions of North America (the U.S. and Canada), Europe and emerging markets.
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