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Strong growth ahead for global drug discovery
May 2017
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DUBLIN, Ireland—Research and Markets has announced the availability of one of its latest reports: “Global Drug Discovery Market Forecast 2016-2024.” The report notes that globally, the drug discovery market is expected to nearly double within the aforementioned time period, growing from $34.0 billion in 2016 to $68.7 billion by 2024, a compound annual growth rate of 91.9 percent. The key drivers within this market are the prevalence rates of major health issues such as diabetes, genetics disorders, mental health disorders, cardiovascular and other diseases. An aging population, increased healthcare expenditure and increased lifestyle-oriented diseases and fatalities are the main drivers of growth in the market, while market restraints include delayed processing of government regulations, poor access to healthcare services and the market shift from branded to generic drugs.

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