The drug discovery market worldwide is on the rise. By 2025 the market is expected to be valued at 71 billion U.S. dollars. As of 2016, the market was valued at just 35.2 billion U.S. dollars. The largest segment of the drug discovery market has been small molecule drug discovery. By 2025 the small molecule drug discovery market will be valued at some 48 billion U.S. dollars.
Top R&D pharmaceutical companies
Pharmaceutical research and development (R&D) is an essential part of new drug discovery and manufacturing. The top pharmaceutical companies based on their research and development spending are Roche, Johnson & Johnson and Novartis. It is estimated that by 2024 the top worldwide pharmaceutical companies based on research and development spending will be Johnson & Johnson, Roche and Merck & Co.
Research and development trends
Research and development in the pharmaceutical industry is an expensive endeavor. Companies are responsible for new drug approvals, clinical trials and are subject to specific rules and regulations. In general, the average cost to develop new drugs has been increasing, despite new technologies. While costs to develop drugs are increasing, returns on investments in research and development are decreasing over time. That is one reason why pharmaceutical companies are increasingly outsourcing R&D to academic or private research contractors.
Drug discovery market worldwide by segment in 2016 and 2025
(in billion U.S. dollars)
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BIS Research. (September 28, 2017). Drug discovery market worldwide by segment in 2016 and 2025 (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 13, 2024, from https://www.statista.com/statistics/765535/drug-discovery-market-worldwide-by-segment-globally/
BIS Research. "Drug discovery market worldwide by segment in 2016 and 2025 (in billion U.S. dollars)." Chart. September 28, 2017. Statista. Accessed December 13, 2024. https://www.statista.com/statistics/765535/drug-discovery-market-worldwide-by-segment-globally/
BIS Research. (2017). Drug discovery market worldwide by segment in 2016 and 2025 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 13, 2024. https://www.statista.com/statistics/765535/drug-discovery-market-worldwide-by-segment-globally/
BIS Research. "Drug Discovery Market Worldwide by Segment in 2016 and 2025 (in Billion U.S. Dollars)." Statista, Statista Inc., 28 Sep 2017, https://www.statista.com/statistics/765535/drug-discovery-market-worldwide-by-segment-globally/
BIS Research, Drug discovery market worldwide by segment in 2016 and 2025 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/765535/drug-discovery-market-worldwide-by-segment-globally/ (last visited December 13, 2024)
Drug discovery market worldwide by segment in 2016 and 2025 (in billion U.S. dollars) [Graph], BIS Research, September 28, 2017. [Online]. Available: https://www.statista.com/statistics/765535/drug-discovery-market-worldwide-by-segment-globally/