June 15, 2012
Wellesley, Mass. – According to a new technical market research report, DRUG DISCOVERY TECHNOLOGIES (BIO020D) from BCC Research (www.bccresearch.com), the global market for drug discovery technologies and products was worth $38.4 billion in 2011. This figure is projected to reach $41.4 billion in 2012 and $79 billion in 2017, a five-year compound annual growth rate (CAGR) of 13.8%.
The drug discovery market can be broken down into seven segments: high-throughput screening, bioanalytical instruments for drug discovery, cell-based assays for drug discovery, proteomics drug discovery, genomics drug discovery, bioinformatics as a platform for drug discovery, and other (metabolomics-based technologies, combinatorial chemistry, systems biology, and nanotechnology products).
High-throughput screening is projected to account for $11.5 billion in 2012 and should reach $20 billion in 2017, a CAGR of 11.7%.
The bioanalytical instruments for drug discovery segment is projected to total $10 billion in 2012 and should reach $15 billion in 2017, a CAGR of 8.4%.
Cell-based assays for drug discovery are projected to be worth $7.5 billion in 2012 and should reach $15 billion in 2017, a CAGR of 14.9%.
Proteomics drug discovery is expected to total $5 billion in 2012 and $10 billion in 2017, also a CAGR of 14.9%.
While having smaller projected total values, the remaining three segments (genomics drug discovery, bioinformatics as a platform for drug discovery, and other) should have relatively high compound annual growth rates of 23.4%, 22.2%, and 16.5%, respectively.
Drug discovery is a complex process and represents a main component of the pharmaceutical industry. Today, development of new drugs takes up to 15 years with average spending of more than $1 billion. Most drug discovery today is based on target identification and further screening for drug candidates. However, the efficiency of this approach is very low; in general, from thousands of compounds, only a number of candidates are identified and further developed as commercial drugs. Obviously, technology development plays an essential and vital part in accelerating this process and lowering its costs.
In spite of many research and development (R&D) efforts, the pharmaceutical market today has shown low productivity in the context of new therapeutics on the market. Many marketed drugs today are going off patent, yet the number of novel breakthrough medicines is not rising. Most of the industry insiders blame economic downturn, rigid big pharmaceutical structures, and the latter’s present business models as the main reasons for the current situation, but it is clear that innovative technologies are essential for market development and are the driving force of this industry.
This report is intended for business development professionals, entrepreneurs and other investment groups in order to fully understand and properly evaluate each segment in the drug discovery technology market. The report provides a company’s corporate development department with new insight into competitors’ positions and reveals new opportunities otherwise overlooked or less known to the public.
Drug Discovery Technologies( BIO020D )
Publish Date: Jun 2012
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