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Drug discovery forecasts
January 2020
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Research and Markets released two reports as 2019 drew to a close: “Drug Discovery Services Market By Type, By Drug Type, By Therapeutic Area, By Regions - Global Forecast up to 2025” and “Small Molecule Drug Discovery Market - Growth, Trends, & Forecast (2019 – 2024).” The first predicts that the global drug discovery services market will see a compund annual growth rate of 11.7 percent from 2019 to 2025, driven by externalization of R&D activities and patent expiration, among other factors. North America will likely continue to claim the largest market share throughout that period, though Asia Pacific’s share is expected to grow at the fastest rate. The second report noted that the small-molecule discovery market was valued at $29.3 billion in 2018, a number that is expected to grow at a rate of 8.11 percent to reach $46.8 billion by 2024. Increased utility and preference for small-molecule drugs in chronic diseases will drive that growth.

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