[168 Pages Report] The drug discovery services market is expected to value at USD 7.45 Billion in 2016 and projected to grow at a CAGR of 11.6% to reach USD 14.40 Billion by 2022.

Years considered in this report:

• 2016 – Base Year
• 2017 – Estimated Year
• 2022 – Projected Year

Drug discovery services are widely used in forensics, paternity testing, disaster victim identification, and anthropology with DNA analysis/profiling being a key tool in this sector.

The major factors driving the growth of this market are increasing research and development expenditure, inclination of major pharmaceutical companies towards outsourcing to avoid hurdles, and increasing demand for outsourcing of analytical testing and clinical trial services.

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Major Growth Drivers:
# Increasing Demand for Outsourcing Analytical Testing and Clinical Trial Services
# Initiatives for Research on Rare Diseases
# Focus on Drug Discovery

Restraints:
# High Cost of Drug Discovery and Development
# Stringent Regulations Governing Drug Discovery, and Animal Usage

Opportunities:
# Introduction of Advanced Technologies
# Patent Expiries to Boost the Demand for Drug Discovery

Burning Issues:
# Need for Harmonization of Regulations, Ip Rights

The objectives of this study are as follows:

• To define, describe, segment, and forecast the market on the basis of process, type, drug type, therapeutic area, and region.
• To provide detailed information regarding the major factors influencing the growth of the market (drivers, restrains, opportunities, and burning issues).
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market.
• To analyze the opportunities in the market for stakeholders and provide details of a competitive landscape for market leaders.
• To forecast revenue of the market segments with respect to four main regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW).
• To profile key players and comprehensively analyze their market shares and core competencies  in terms of market development and growth strategies.
• To track and analyze competitive developments such as agreements, partnerships, acquisitions, in the market.

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Key players operating in the drug discovery services market include Thermo Fisher Scientific (US), Albany Molecular Research Inc. (AMRI) (US), Charles River Laboratories International (US), Evotec (Germany), Domainex (UK), GenScript (US), Covance (US), Selcia Limited (UK), Viva Biotech (China), WuXi AppTec (China), SRI International (US), Pharmaceutical Product Development, LLC (PPD) (US), GVK Biosciences (India), Jubilant Biosys (India), GE Healthcare (US), Merck (Germany), Lonza (Switzerland), Piramal Enterprises (India), Advinus Therapeutics (India), Promega Corporation (US), Syngene International Ltd. (India), Aurigene (India), Agilent Technologies (US), Ubiquigent (UK), and ChemBridge Corporation (US).

Target Audience for this Report:

• Research Institutes
• Pharmaceutical and Biotechnological Companies
• Venture Capitalists and Investors
• Contract Research Organizations (CROs)