Small Molecule Drug Discovery Global Market Report 2023

Major players in the small molecule drug discovery market are Pfizer Inc., GlaxoSmithKline plc, AstraZeneca, Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Company, Johnson & Johnson, Gilead Sciences Inc.

New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Small Molecule Drug Discovery Global Market Report 2023" - https://www.reportlinker.com/p06464224/?utm_source=GNW , Merck KGaA, Novartis AG, 21st Century Therapeutics Inc., 4SC AG, Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Immunocure Inc., and Labcorp Drug Development.The global small molecule drug discovery market is expected to grow from $52.14 billion in 2022 to $57.51 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The small molecule drug discovery market is expected to reach $82.56 billion in 2027 at a CAGR of 9.5%.The small molecule drug discovery market consists of sales of diphenhydramine, aspirin, and other "medicine cabinet" drugs.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Small molecule drug discovery refers to discovering a medicine with a low molecular weight that may easily penetrate cells. Small-molecule drugs are used to cure or prevent diseases.North America was the largest region in the small molecule drug discovery market in 2022.Europe is expected to be the fastest-growing region in the forecast period.The regions covered in small molecule drug discovery report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main small molecule drug discovery drug types are small molecule drugs, and biologic drugs. A small-molecule drug refers to any organic chemical with a relatively low molecular weight, less than 900 daltons, that influences a biological process. the various technologies are high throughput screening, pharmacogenomics, combinatorial chemistry, nanotechnology, and others used in various therapeutic areas that are oncology, central nervous system, cardiovascular, respiratory, metabolic disorders, gastrointestinal, others. The process or phases are target id or validation, hit generation and selection, lead identification, lead optimization used by pharmaceutical companies, contract research organizations, and others.The rising incidence of chronic diseases is expected to boost the growth of the small molecule drug discovery market going forward.Chronic diseases refer to conditions that last for a year or longer, hinder everyday activities, demand continuous medical care, or both.Small-molecule medications can be used to treat chronic conditions like HIV, cancer, infections, heart disease, and renal disease, and these medications are generally more economical for patients with chronic conditions.Hence, the rising incidence of chronic diseases is expected to boost the small molecule drug discovery market.For instance, according to a report published by the National Institutes of Health (NIH), a US-based biomedical research agency, in 2023, in the United States, the number of people aged 50 and older with at least one chronic illness is predicted to rise by 99.5%, from 71.522 million in 2020 to 142.66 million in 2050. Additionally, the number of people with multimorbidity would rise by 91.16% from 7.8304 million in 2020 to 14.968 million in 2050. Therefore, the rising incidence of chronic diseases is driving the growth of the small molecule drug discovery market.Technological innovations are the key trend gaining popularity in the small molecule drug discovery market.Major companies operating in the small molecule drug discovery market are focusing on developing new products.For instance, in January 2023, Dotmatics, a US-based provider of digital science platform, launched Small Molecule Drug Discovery Solution.It is uniquely designed with integrated scientific R&D platform that has pre-configured workflows and expanded data management capabilities.It reduces the operational inefficiencies, and speeds the process of taking data from insights to decisions.In July 2022, GSK Plc., a UK-based pharmaceutical and biotechnology company, acquired Sierra Oncology Inc. (Sierra Oncology) for a deal of 1.9 billion dollars. This acquisition broadens GSK's advanced cancer portfolio, highlighting its dedication to enhancing patient outcomes and maximizing shareholder value. Also, Sierra is expected to help GSK establish a sustainable process of innovative therapeutics by utilizing modalities like small molecules, antibodies, antibody-drug conjugates, and cell therapy. Sierra Oncology Inc. is a US-based clinical-stage drug development company that advances targeted therapeutics for the treatment of cancer patients.The countries covered in the small molecule drug discovery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The small molecule drug discovery market research report is one of a series of new reports that provides small molecule drug discovery market statistics, including small molecule drug discovery industry global market size, regional shares, competitors with a small molecule drug discovery market share, detailed small molecule drug discovery market segments, market trends and opportunities, and any further data you may need to thrive in the small molecule drug discovery industry. This small molecule drug discovery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06464224/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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