Market Analysis - Drug Discovery Congress 2020
Drug research and development is a long-term and complicated process with the involvement of multidisciplinary, multi-sector cooperation and regulations of the Food and Drug Administration (FDA). It is of high risk, high cost, high benefit and time-consuming. Therefore, the drug administration and management is extremely necessary and useful. We discussed the whole process including laboratory study, target determination, drug discovery and screening, leading compound and optimization, preclinical and clinical trials, FDA approval and marketing.
According to an international research company, in 2012 the size of the global pharmaceutical market reached $940 billion. In monetary terms it grew by 6%. In the future the sector is expected to grow at no less than 3% to 4% a year and if this happens the market will reach $1.2 trillion in 2016 and up to $1.5 trillion by 2020. Another research company, Business Monitor International, has made a forecast for the size and geographical composition of the global pharmaceutical market in 2020. However by 2020, the Asian pharmaceutical market has a share of 33% in global pharmaceutical market.
The Asia Pacific is the fastest-growing region, due to the presence of skilled labor at an affordable cost, the rise in disposable income, and favorable government policies that are contributing to the market growth. There has also been phenomenal growth in the outsourcing companies in the Chinese region, over the last decade, which has complemented the restructuring of the R&D that has taken place. Thus, owing to the large deals of pharmaceutical companies and more number of research being done, the market for drug discovery is expected to grow.
Global “Drug Discovery Market” 2019 Industry Research Report is a professional and in-depth study on the current state of the Global Drug Discovery industry. This report focuses on the global Drug Discovery status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Drug Discovery development in United States, Europe and China.
In 2018, the global Drug Discovery market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.