Drug Discovery Services Market Size Worth USD 75.13 Billion by 2034 | CAGR: 14.6%

The drug discovery services market size is expected to reach USD 75.13 billion by 2034, according to a new study by Polaris Market Research. The report “Drug Discovery Services Market Size, Share, Trends, Industry Analysis Report: By Process (Target Selection, Target Validation, Hit-To-Lead Identification, Lead Optimization, and Candidate Validation), Type, End User, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Drug discovery services refers to the range of research and development services provided to pharmaceutical, biotechnology, and life sciences companies to assist in the process of discovering new drug candidates. These services support various stages of drug development, including target identification, lead discovery, hit-to-lead optimization, preclinical testing, and candidate validation. Drug discovery services aim to identify potential therapeutic compounds, assess their effectiveness, and optimize their properties before moving into clinical trials.

The drug discovery services market is experiencing significant growth driven by factors such as the increasing complexity of drug development, the rising prevalence of chronic diseases, and the growing demand for innovative therapeutics. Outsourcing research activities to Contract Research Organizations (CROs) has become a key trend, as it allows pharmaceutical and biotechnology companies to reduce costs and accelerate drug development.

Advancements in technologies such as artificial intelligence, machine learning, and CRISPR gene editing are revolutionizing drug discovery processes, enabling faster and more efficient identification of potential drug candidates. Opportunities lie in the expanding fields of personalized medicine, biologics, and gene therapies, which are opening new avenues for drug discovery services. The drug discovery services market is further supported by strategic collaborations, increased focus on emerging therapeutic areas, and the demand for high-quality, tailored solutions in the drug development process.

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Drug Discovery Services Market Report Highlights

• Lead optimization is the fastest growing segment in the drug discovery services market, driven by the increasing focus on refining drug candidates for improved efficacy and safety before clinical trials. Also, target selection segment continues to dominate, as it is crucial for identifying the most promising therapeutic targets in the early stages of drug discovery.
• Chemistry services holds the largest market share, providing essential support in drug synthesis, optimization, and early-stage testing. Biology services is also the fastest growing segment due to the rising demand for biologics and personalized medicine, where biological insights are critical.
• Pharmaceutical & biotechnology companies dominate the market, as they invest heavily in drug discovery to develop new treatments. Moreover, academic institutes segment are registering the fastest growth due to increased collaboration with industry players and growing research funding.
• North America holds the largest drug discovery services market share, driven by its well-established pharmaceutical sector and technological advancements. Asia Pacific is the fastest growing region, fueled by rising investments in healthcare infrastructure and the increasing trend of outsourcing drug discovery services to cost-effective countries.
• Key players in the drug discovery services market include companies such as Charles River Laboratories International, Inc.; Covance Inc. (now part of Labcorp); ICON plc; Syngene International Ltd.; WuXi AppTec Co., Ltd.; Pharmaceutical Product Development, LLC (PPD, now part of Thermo Fisher Scientific); Eurofins Scientific; GVK Biosciences; Jubilant Biosys, Evotec SE; Medpace Holdings, Inc.; TCG Lifesciences; Pharmaron Beijing Co., Ltd.; Frontage Laboratories, Inc.; and Selvita S.A.

Polaris Market Research has segmented drug discovery services market report on basis of process, type, end user, and region:

By Process Outlook (Revenue-USD Billion, 2020–2034)

• Target Selection
• Target Validation
• Hit-To-Lead Identification
• Lead Optimization
• Candidate Validation

By Type Outlook (Revenue-USD Billion, 2020–2034)

• Chemistry Services
• Biology Services

By End User Outlook (Revenue-USD Billion, 2020–2034)

• Pharmaceutical & Biotechnology Companies
• Academic Institutes
• Others

By Regional Outlook (Revenue-USD Billion, 2020–2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America

Drug Discovery Services Market Report Scope