San Francisco, California, March 16, 2018: A report by TMR Research, titled, “Drug Discovery Services Market – Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast 2017 – 2025,” is projected to thrive in future on the grounds of extensive research and developmental activities carried out in the pharmaceutical industries.
In a growing bid to provide state-of-the-art healthcare services, most drug manufacturing pharmaceutical companies are ensuring that they produce high quality drugs and other medicines. Such a healthy attitude is one of foremost factors contributing towards a better future for the global drug discovery services market. As the of drug manufacturing and research is increasing, several companies are outsourcing clinical trials and analytical testing services to third-party clients, thus expanding the operational network. This expansion has effectively reduced few roadblocks present in the path of success of the global drug discovery services market.
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The global drug discovery services market is mainly segmented on the basis of component, end users, and geography. From a geographical perspective, this market is spread across Asia Pacific, North America, Latin America, Europe, and the rest of the world. Extensive research and developmental activities are responsible for North America to showcase maximum growth. Adoption of advanced technologies before countries from any other region also has provided a leading edge to North America to lead from the regional front. In contrast, rising demand for improved healthcare in emerging economies from Asia Pacific are expected to significantly drive the global drug discovery services market.
The worldwide market for drug discovery services is largely fragmented with scores of international as well local players attempting to maximize their revenue generation and expansion. Most players are now focusing on improving drug quality than production in quantity, thus aiming towards cost reduction. Pharmaceutical Product Development, SRI International, Domainex, Evotec, Viva Biotech, GE Healthcare, Albany Molecular Research Inc., Piramal Enterprises, Thermo Fisher Scientific, and GVK Biosciences, are some of the key players operating in this market.