Bharat Book Bureau Provides the Trending Market Research Report on “Global Drug Discovery Technologies Market, Forecast to 2022” under Life Sciences category. The report provides information on industry overview, market size, latest developments, industry trends, Major Companies, global presence, and their future prospects.
Drug Discovery Industry has witnessed growth in the past few years owing to progress in biochemical, translational and molecular studies in biomedical research. These tools are commercially employed in the development of novel and efficient drug candidates. The booming healthcare sector and increased government funding has aided significant growth in the biomedical industry. The delineation of mechanistic details and the underlying mechanisms of drug target interaction have paved the way for more efficient and accurate therapies. The biopharmaceutical industry and various research institutes are conducting exhaustive research in the field of drug discovery.
The expanding field of drug discovery and development is allowing researchers to focus on discovering important lead compounds for various forms of cancer and other diseases. Globally, biopharmaceutical companies and research institutes are exploring several molecular and biochemical aspects to develop mechanistic approaches for drug discovery. Various tools such as high-throughput screening, proteomics and genomic tools, including quantitative reverse transcription polymerase chain reaction (qRT-PCR), next generation sequencing (NGS) and many others, are being widely used for cellular analysis.
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In the last decade, the drug discovery tools market has witnessed increased usage in the biomedical industry. Applications are proteomics, next-generation sequencing and high-throughput screening tools that target cancers and other diseases, including autoimmune diseases. A rise in R&D, the growing incidences of various life-threatening diseases and the increasing global population are all market drivers. Companies are focusing on enhancing biomedical research and advancement of superior technologies in order to provide better quality of treatment and therapies. One industry source described the current drug discovery process as driven by the computational method using bioinformatic tools, followed by drug innovation in the pharmaceutical industry, plant-derived drug discoveries and, lastly, through the translation of molecules.
Collaborative efforts of researchers and the pharmaceutical industry are establishing various promising future drug candidates. Drug discovery find applications in cardiovascular, neurological, cancer and other disease areas. Some key players in this space include Thermo Fisher Scientific, Shimadzu Corp., Illumina Inc. and Bio-Rad Laboratories Ltd. Major end users of these products are research centers, academic institutions, government and private laboratories, as well as pharmaceutical, biotechnology companies and contract research organizations.
North America held the biggest share of the drug discovery tools market during the reporting period. This region is expected to continue increasing at an estimated compound annual growth rate (CAGR) of REDACTED through 2022 to be worth REDACTED. An aggressive research environment and government funding for various projects related to drug discovery is helping to boost the sector. The market in Europe is forecast to grow at a CAGR of REDACTED by 2022.
In the emerging regions, China and India, in particular, remain attractive markets for healthcare. Asian countries are attracting various pharmaceutical and biotechnological companies due to their heterogeneous patient population pool. In addition, China is now a major research center with a large number of collaborative research efforts throughout the country. Countries comprising the emerging market is expected to see the value of its drug discovery sector rise at a CAGR of REDACTED to reach REDACTED by 2022.
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