Drug Discovery Market to Partake Significant Development During 2018- 2026 Drug Discovery Market, by Drug Type (Small Molecule Drug and Biologics Drug), By Technology (High Throughput Screening, Biochips, Bioinformatics, and Others), by Services (Drug Metabolism and Pharmacokinetics (DMPK) Services, Pharmaceutical Services, Chemical Services, and Biological Services), by End User (Research Institutes, Pharmaceutical Companies, Biotechnology Companies, and Others) and by Region - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026 Advancements in the field of biotechnology and pharmaceuticals, in order to identify active ingredients in the form of drugs through drug discovery process, is gradually gaining pace in the market. This drug discovery process involves screening of chemical libraries, identification of the active ingredients for a natural remedy or by serendipitous discovery. Emergence of new diseases, which include viral or infectious diseases leads to high demand for drug discovery for these conditions. However, development of drugs is complex, costly, and risky process. Click to Read More on Drug Discovery Market. The objective of drug discovery is to recognize the investigational drug success rates by stages, preclinical studies, investigational new drug application-Phase I, Phase II, Phase III studies, new drug application, and phase IV studies. The success during drug discovery process is very low, as according to data published by Journal Research & Review 2016. Drug Discovery Market Dynamics A patent cliff provides an opportunity for manufactures to collaborate and participate in current drug discovery model to sustain in the market. Manufacturers such as, Eli Lilly, Pfizer, Takeda, BristolMyers Squibb and Gilead lost their patent in 2017, with some of their respective big sellers that cover a range of indications such as multiple sclerosis, HIV, erectile dysfunction, and cancer. Such patent loss forces companies to introduce innovative products to retain their revenues and increase their revenue. After patent expiration, generic manufacturers enter the market and provide drugs that are equivalent to the innovator’s drugs, however, at a significantly lower price. Therefore, manufacturers are focusing on developing new and innovative products to sustain in the competitive market. Ask For Sample Copy Of This Business Research Report : https://www.coherentmarketinsights.com/insight/request-sample/1631 Increasing prevalence of wide range of disease such as cancer, cardiovascular, and CNS-related disorders with patent expiration of blockbuster drugs are some of the driving factors for growth of the drug discovery market. According to the World Cancer Research Fund International, 2015, an estimated 124,000 new cases of myeloma were diagnosed globally in 2015, which accounted for 0.8% of the total cancer cases. The mortality rate of the disease is around 0.9% of all cancer deaths, accounting for 87,000 deaths each year. Therefore, key manufacturers are actively involved in the development of immunotherapies targeting B-cell maturation antigen (BCMA) such as chimeric antigen receptor T-cells (CAR-T cells), bispecific antibodies, and antibody drug conjugates (ADCs). Drug Discovery Market - Competitive Analysis Major players operating in the market are Pfizer Inc., GlaxoSmithKline LLC, Merck & Co. Inc., Agilent Technologies Inc., Eli Lilly and Company, F Hoffmann-La Roche Ltd, Bayer AG, Abbott Laboratories Inc., AstraZeneca PLC, and Shimadzu Corp., among others. Drug Discovery Market - Regional Insights North America accounted for the largest share in the drug discovery market, followed by Europe market in 2016. This is attributed to presence of a large number of top pharmaceutical and biotech companies, Pfizer, Inc., Merck, GlaxoSmithKline, Novartis and many more in this region. Furthermore, favorable regulatory framework and regulatory policies for investors for research and development of new drugs augments growth of drug discovery market in the region. The US Regulatory Framework provides for 3 distinct regulatory approval pathways outlined in the Food, Drug, and Cosmetics Act (FD&C Act), which allows the registration of novel compounds, new drugs containing similar ingredients to previously approved products and generic copies of previously approved products in systematic way helping the pharmaceutical companies to gain approval over the new drugs. Furthermore, several pharmaceutical and biotechnological companies are focusing on expanding in Asia Pacific region, to maximize on their R&D efforts as the Asia Pacific region provides better access to patients for clinical trials, with lower cost operational efficiencies. 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Advancements in the field of biotechnology and pharmaceuticals, in order to identify active ingredients in the form of drugs through drug discovery process, is gradually gaining pace in the market. This drug discovery process involves screening of chemical libraries, identification of the active ingredients for a natural remedy or by serendipitous discovery.
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