Lucintel’s latest market report analyzed that drug discovery services provides attractive opportunities in the pharmaceutical & biotechnology companies and academic institute markets. The drug discovery services market is expected to reach $37.3 billion by 2028 with a CAGR of 14.1%. In this market, chemistry services is the largest segment by type, whereas pharmaceutical & bioend users companies is largest by end users.
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Based on type, the drug discovery services market is segmented into chemistry services and biology services. The chemistry services segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to growing number of outsourcing projects for small molecules and increasing adoption in academics, biotechnology companies, and large pharmaceutical companies.
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The Drug Discovery Services Market is marked by the presence of several big and small players. Some of the prominent players offering drug discovery services include Eurofins Scientific, Evotec SE, Charles River Laboratories International, and GenScript, Thermo Fisher Scientific, Oncodesign Services, ChemPartner Co., DiscoverX Corp., QIAGEN, Domainex Ltd.
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