Seattle, WA -- (SBWIRE) -- 11/07/2019 -- The boost growth of theglobal drug discovery marketinclude, high prevalence of several diseases, emergence of new diseases, increasing development in biotechnology and pharmaceuticals sectors, and R&D of new active ingredients for use in drug development. Increasing number of current drugs are expected to lose patents, which offers lucrative growth opportunities for market players. For instance, in 2017, manufacturers such as Eli Lilly, Bristol-Myers Squibb, Pfizer, Takeda, and Gilead lost patents for some of their major revenue generating therapies used for the treatment of multiple sclerosis, HIV, erectile dysfunction, and cancer. Loss of patents promotes market players to focus on R&D of new therapies. Moreover, patent loss also offers lucrative opportunities for generic manufacturers. Therefore, key players in the market are focused on developing new and effective drugs to remain competitive in the market.
Drug discovery includes screening of chemical libraries and identification of active ingredients for a natural remedy or by serendipitous discovery. The approach focuses on analyzing the success rate of investigational drugs in stages, pre-clinical studies, investigational new drug application-Phase I, Phase II, Phase III studies, new drug application, and phase IV studies.
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High number of people suffering from diseases such as cancer, cardiovascular, and CNS-related disorders is also expected to boost growth of the drug discovery market. For instance, according to the World Cancer Research Fund International, 2015, an estimated 124,000 new cases of myeloma were diagnosed globally in 2015, which accounted for 0.8% of the total cancer cases. The mortality rate of the disease is around 0.9% of all cancer deaths, accounting for 87,000 deaths, annually. Such scenario has led major market players to focus on R&D of immunotherapies targeting B-cell maturation antigen (BCMA) such as chimeric antigen receptor T-cells (CAR-T cells), bispecific antibodies, and antibody drug conjugates (ADCs). For instance, in 2012, the University of Pennsylvania and Novartis entered into an exclusive global research and licensing agreement to study and commercialize novel cellular immunotherapies using chimeric antigen receptor (CAR) technologies. In 2016, Juno Therapeutics entered into a licensing agreement with Memorial Sloan Kettering Cancer Center (MSKCC) and Eureka Therapeutics for developing CAR T cell immunotherapy against multiple novel targets.
On the basis of region, the global drug discovery market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The market in North America held dominant position in 2016, followed by Europe. The market growth in North America is driven by high presence of major market players such as Pfizer, Inc., Merck, GlaxoSmithKline, and Novartis. Moreover, increasing support of regulatory bodies and favorable regulatory policies for investors in R&D of drugs is also contributing to growth of the market in North America. For instance, the US Regulatory Framework offers for three distinct regulatory approval pathways outlined in the Food, Drug, and Cosmetics Act (FD&C Act), which allows the registration of novel compounds, new drugs containing similar ingredients to previously approved products and generic copies of previously approved products in systematic way helping the pharmaceutical companies to gain approval over the new drugs.
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The market in Asia Pacific is driven by increasing focus of market players to expand their presence in the region and high R&D activities. Increasing government initiatives to support R&D of drugs is also contributing to growth of the market in Asia Pacific. For instance, in March 2011, the government of Korea participated in the Korean National Enterprise for Clinical Trials, to advance the country's infrastructure for conducting clinical trials, which could fasten the process of clinical trials.
Key players in the market are focused on adopting collaboration and merger strategies to expand their product portfolio. For instance, in January 2018, AstraZeneca and Imperial College London collaborated to investigate biological drivers for respiratory diseases such as asthma and chronic obstructive pulmonary disease. Furthermore, in January 2018, BioCryst Pharmaceuticals Inc. and Idera Pharmaceuticals Inc. announced plans for a definitive merger agreement to develop drugs for patients with rare diseases.
Major players operating in the global drug discovery market include, F Hoffmann-La Roche Ltd., Bayer AG, Abbott Laboratories Inc., Pfizer Inc., GlaxoSmithKline LLC, Eli Lilly and Company, AstraZeneca PLC, Shimadzu Corp. Merck & Co. Inc., and Agilent Technologies Inc.
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