Drug discovery or development, from scratch or its initial discovery is an extremely expensive, lengthy, and incremental process. Drug discovery is a highly complex, high risk, high octane, and a latently rewarding endeavor to achieve. Worldwide companies invest grueling amount of money in developing a new drug in the market. This process requires a major investment of human resources, capital, and technological expertise in the pharmaceutical industry. Drug discovery is also a process that requires severe adherence to norms and regulations on testing the drugs and getting adapted to manufacturing standards before the new drug is actually released in the market and can be used in the general population. All these processes and requirements contribute mainly to the cost increases for a new drug and research and development (R&D).
The drug discovery industry generally requires tools such as Bioanalytical instrument, High-Throughput Screening, Proteomics, Cell-based assays, Genomics, and Bioinformatics to understand the effect of technology and its use in developing new drugs.
As of now the global market for drug discovery products and technologies expands to $41.4 billion in 2012 to $79.0 billion in 2017, recording a CAGR of 13.8% in this time period.
Drug discovery is a rigorous phase involving identifying, testing, and optimizing selected compounds that pose as a candidate drug in the most effective manner. To continue evaluating the safety and efficacy of the new marketed drug, and understand its importance and health benefits, ResearchMoz caters strategically analyzed and published intelligent market research reports centered on drug discovery. Serving as a constant online partner to Fortune 500 companies across the world, you can freely rely on ResearchMoz reports to meet your pharmaceutical requirements and clinical needs.
By GBI Research
By GBI Research
By Kelly Scientific Publications
By Transparency Market Research