Drug Discovery Services Market Summary
As per Market Research Future Analysis, the Drug Discovery Services Market was valued at USD 24.96 Billion in 2024 and is projected to reach USD 93.51 Billion by 2034, growing at a CAGR of 14.12% from 2025 to 2034. Key drivers include the increasing outsourcing of drug development and rising R&D costs, with pharmaceutical companies opting for integrated outsourcing solutions to enhance efficiency and reduce expenses. The market is significantly influenced by the growing need for innovative therapeutics, particularly for chronic diseases, which are responsible for over 40 million deaths annually. The demand for drug discovery services is expected to rise as R&D investments increase in response to the burden of chronic illnesses.
Key Market Trends & Highlights
The Drug Discovery Services market is witnessing significant growth driven by various trends.
- Market Size in 2024: USD 24.96 Billion; Expected to grow to USD 93.51 Billion by 2034.
- CAGR from 2025 to 2034: 14.12%; driven by increased R&D spending.
- Oncology segment dominated in 2022; projected to be the fastest-growing segment.
- North America accounted for USD 8.79 Billion in 2022; expected significant growth due to high R&D investments.
Market Size & Forecast
2024 Market Size | USD 24.96 Billion |
2034 Market Size | USD 93.51 Billion |
CAGR (2025-2034) | 14.12% |
Major Players
Key players include Advinus Therapeutics, Abbott Laboratories Inc., Albany Molecular Research Inc. (AMRI), Agilent Technologies, Aurigene, AstraZeneca PLC, and Charles River Laboratories International.