Medicinal chemistry for drug discovery plays a pivotal role in pharmaceutical research and development. Its applications include the design and synthesis of new chemical entities with therapeutic potential, optimization of drug candidates for enhanced efficacy and safety, and identification of lead compounds for further development. Key features encompass rational drug design, structure-activity relationship studies, and computer-aided drug design. The discipline is instrumental in the discovery and development of novel drugs to treat various diseases, making it a critical component of the pharmaceutical industry's efforts to improve healthcare outcomes.
According to Data Bridge Market Research, the North America Medicinal Chemistry for Drug Discovery Market is expected to reach USD 6,768.27 million by 2029. The market is expected to grow with a CAGR of 14.0% in the forecast period of 2022 to 2029.
“Increasing need for safe and effective drugs boosts the market’s growth”
The medicinal chemistry for drug discovery market is experiencing growth due to the increasing need for safe and effective drugs. As the prevalence of various diseases rises, there is a growing demand for novel pharmaceutical compounds. Medicinal chemistry plays a critical role in designing and synthesizing new drug candidates with optimized pharmacological properties. With advancements in technology and a deeper understanding of molecular interactions, medicinal chemistry enables the development of innovative drugs, propelling the market's expansion and contributing to improved healthcare outcomes worldwide.
What restraints the growth of North America medicinal chemistry for drug discovery market?
“Rise in the cost of formulated drugs restraints the market’s growth”
The growth of the medicinal chemistry for drug discovery market is restrained by the rise in the cost of formulated drugs. The high expenses associated with research and development, clinical trials and regulatory approvals for new drugs impact the overall drug development process. As a result, pharmaceutical companies face challenges in maintaining the profitability and affordability of their products. This cost burden may lead to reduced investments in drug discovery efforts, hindering the expansion of the medicinal chemistry market and limiting the availability of new and innovative drugs.
Segmentation: North America Medicinal Chemistry for Drug Discovery Market
The North America medicinal chemistry for drug discovery market is segmented on the basis of process, design, drug type, therapeutic area, and end user.
- On the basis of process, the North America medicinal chemistry for drug discovery market is segmented into target selection, target validation, hit-to-lead identification, lead optimization, and candidate validation.
- On the basis of design, the North America medicinal chemistry for drug discovery market is segmented into fragment-based variation, structure-based drug design, diversity oriented synthesis, chemogenomics, natural products, and others.
- On the basis of drug type, the North America medicinal chemistry for drug discovery market is segmented into small molecules and biologics.
- On the basis of therapeutic area, the North America medicinal chemistry for drug discovery market is segmented into oncology, infectious and immune system disease, neurology, cardiovascular disease, digestive system disease, and others.
- On the basis of end user, the North America medicinal chemistry for drug discovery market is segmented into contract research organization, academic and research institutes, pharmaceutical and biotechnology companies, and others.
Regional Insights: U.S. is leading in the North America Medicinal Chemistry for Drug Discovery Market
The U.S. is leading in the North America medicinal chemistry in drug discovery market due to escalating initiatives aimed at researching rare diseases and orphan drugs. Concurrently, the rise in healthcare expenses propels the demand for innovative pharmaceutical solutions. These factors collectively contribute to the expansion of the market as organizations address unmet medical needs and strive for improved patient outcomes.
Canada is growing in North America medicinal chemistry in the drug discovery market due to a surge in clinical trials and research and development activities targeting various chronic diseases. These efforts drive innovation, as organizations focus on developing effective treatments and therapies to address the complex challenges posed by chronic illnesses.
Mexico is growing in North America medicinal chemistry in the drug discovery market due to growing awareness of the importance of developing treatments for chronic diseases. Increased recognition of the impact of these conditions on individuals and healthcare systems drives heightened efforts to advance research, leading to the development of innovative therapeutic solutions.
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Recent Developments
- In February 2021, Selvita introduced a novel cell-based phenotypic assay platform for drug discovery, enabling the testing of new compounds with therapeutic potential for various diseases, including fibrotic and neuroinflammatory conditions. This innovative platform has not only expanded the company's portfolio of drug discovery services but also opened new revenue streams by offering advanced solutions for clients in their pursuit of developing effective treatments for multiple ailments.
- In August 2020, Piramal Pharma Solutions and Epirium Bio have joined forces for an exclusive integrated development and manufacturing program focused on orphan drugs. The collaboration covers various aspects, including formulation development, drug substances, and drug product manufacturing. Through this partnership, Piramal Pharma Solutions has expanded its portfolio in the medicinal chemistry for drug discovery, enriching its offerings and capabilities in supporting the development of innovative therapies for rare diseases.
The Prominent Key Players Operating in the North America Medicinal Chemistry for Drug Discovery Market Include:
- Eurofins Scientific (Luxembourg)
- Covance Inc. (now part of the LabCorp Group) (U.S.)
- WuXi Apptec (China)
- Charles River (U.S.)
- Evotec SE (Germany)
- Piramal Pharma Solutions (India)
- Pfizer, Inc. (U.S.)
- Certara, USA (U.S.)
- Sygnature Discovery Limited (U.K.)
- Malvern Panalytical Ltd (Parent Company Spectris PLC) (U.K.)
- Jubilant Biosys Ltd. (A Jubilant Pharmova Limited Company) (India)
- Taros Chemicals GmbH & Co. KG (Germany)
- Genscript Biotech Corporation (U.S.)
- Nereid Therapeutics Inc. (U.S.)
- BioBlocks, Inc. (U.S.)
- Charnwood Molecular LTD (U.K.)
- Domainex (U.K.)
- Aurigene Pharmaceutical Services Ltd. (a subsidiary of Dr. Reddy’s Laboratories Ltd.) (India)
- Selvita (Poland)
- Nanosyn (U.S.)
- Drug Discovery Alliances Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of North America medicinal chemistry for drug discovery market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: North America Medicinal Chemistry for Drug Discovery Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, North America vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
