Fragment-based Drug Discovery Market Expected To Exhibit Rapid Growth During The Forecast Period
The latest market report published by Brisk Insights “Fragment-based Drug Discovery Market - Growth, Future Prospects, Competitive Analysis, 2018 - 2026,” the global fragment-based drug discovery market was valued at US$ 503.4 Mn in 2017 expanding at a CAGR of 11.8% from 2018 to 2026.
There has been a tremendous increase in the drug discovery technologies in the recent past with assistance from functional genomics, combinational chemistry and high-throughput screening. Despite these advancements the number of new chemical entity (NCEs) entering the development phase has remained static. Fragment-based drug discovery has emerged as one of the most productive techniques of lead generation. Fragments are low molecular weight small molecules that form of part of drug molecules. As they binds to an active site of target protein, they can be developed into highly potent and effective drug candidate. Fragment-based drug discovery technique requires less molecules as compared to high-throughput screening while offering more efficient and productive drug candidates. Growing need to curb initially drug discovery cost and time will assist the growth of fragment-based drug discovery market. Moreover, technological advancements in novel drug discovery methods will further boost the market during the forecast period.
In terms of end-users, the fragment-based drug discovery market is led by biopharmaceutical companies. Growing demand of fragment-based method by biopharmaceutical companies is driving the market. Moreover, this technique is also useful where other screening techniques have already failed. In terms of geography, North America held the largest share in the global fragment-based drug discovery market owing to high rate of drug discovery and R&D initiatives undertaken in the region. Moreover, higher acceptance of novel technologies and domicile of major biopharmaceutical giants in the region drive the market. Asia Pacific is projected to exhibit fastest growth rate during the forecast period owing to rise in outsourcing of pharmaceutical development and growing number of contract research organization (CROs) and contract manufacturing organization (CMOs) in the region. China, India and South Korea are the manufacturing hub worldwide and high investments in the region by pharmaceutical companies further boost the growth of the region, thereby driving the fragment-based drug discovery market in Asia Pacific. The key players operating in the market include Astex Pharmaceuticals, Charles River Laboratories International, Inc., Evotec AG, Kinetic Discovery Limited, and Alveus Pharmaceuticals Pvt. Ltd. among others.
Browse the full report at https://www.briskinsights.com/report/fragment-based-drug-discovery-market
Key Market Movements:
• Growing need for cost-effective and time saving drug discovery method
• Technological advancement in novel drug discovery techniques
• Combination of high-throughput screening and fragment-based drug discovery method for highly efficient lead generation
• Growth of CROs and outsourcing of pharmaceutical development in Asia Pacific driving the market