US$ 50,823.06 million is projected for the Small Molecule Drug Discovery Market by 2027
Posted by Prabha Mahajan on October 3rd, 2022
According to the latest study on “Small Molecule Drug Discovery Market Forecast to 2027– COVID-19 Impact and Global Analysis by Therapeutic Area, and Process/Phase,” the global small molecule drug discovery market was valued at US$ 24,976.14 million in 2019 and is projected to reach US$ 50,823.06 million by 2027; it is expected to grow at a CAGR of 9.5% during 2020–2027. The report highlights trends prevailing in the global small molecule drug discovery market and the factors driving market along with those that act as hindrances.
Small molecule drugs are used in targeted drug delivery in which small molecules pass through the cell membrane and acts on the specific cellular organelle or protein. The small molecule drugs are able to enter cells easily because of its low molecular weight. These molecules are better than monoclonal antibodies and other large molecule drugs due to their size, easy convertibility to oral form, and cost-effectiveness.
Based on process/phase, the global small molecule drug discovery market is segmented into target discovery, target validation, lead generation and refinement, and preclinical development. The lead generation and refinement segment held the largest share of the global small molecule drug discovery market in 2019. However, the target discovery is anticipated to register the highest CAGR during the forecast period. The target discovery segment is expected to grow owing to increasing demand of therapeutics, increasing product approvals, and rising investment in the drug discovery process.
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Market leaders operating in the market have undertaken various organic growth strategies in the small molecule drug discovery Market. The small molecule drug discovery market majorly consists of the players such as Pfizer Inc., Bristol-Myers Squibb Company, Merck KGaA, GlaxoSmithKline Plc, AstraZeneca, Johnson & Johnson Services, Inc., TEVA PHARMACEUTICAL INDUSTRIES LTD, Boehringer Ingelheim International GmbH, and Allergan Plc. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Moreover, the companies have utilized inorganic strategies including mergers & acquisitions, partnership, and collaborations.
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About the AuthorPrabha Mahajan
Joined: September 26th, 2022
Articles Posted: 158
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