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The small molecule drug discovery market was valued at US$ 24,976.14 million in 2019 and is projected to reach US$ 50,823.06 Mn by 2027; it is expected to grow at a CAGR of 9.5% from 2020 to 2027.
Small molecules drugs are used in targeted drug delivery in which small molecules pass through the cell membrane and acts on the specific cellular organelle or protein. The small molecules drugs are able to enter cells easily because of its low molecular weight. These molecules are better than monoclonal antibodies and other large molecule drugs due to their size, easy convertibility to oral form and, cost-effectiveness. The small molecule drug discovery market is expected to witness huge growth due to increasing approval of small molecule drugs, growing demand for R&D from contract organizations, and rising adoption of small molecules in chronic disease treatments. However, high drug development cost is expected to restrain the growth of the market during the forecast period.
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Leading companies operating in this research are
Pfizer Inc., Bristol-Myers Squibb Company, Merck KGaA, GlaxoSmithKline Plc, AstraZeneca, Johnson & Johnson Services, Inc., Teva Pharmaceutical Industries Ltd, Boehringer Ingelheim International GmbH, and Allergan Plc are among the leading companies operating in the small molecule drug discovery market.
Based on therapeutic area, the small molecule drug discovery market is segmented into oncology, central nervous system, cardiovascular, respiratory, orthopedics, immunology, rare diseases, and other therapeutic areas. The oncology segment held a largest share of the market in 2019 owing to the increasing small molecule drug approvals and growing pipeline for the cancer therapeutics. Moreover, increasing investment in oncology is further driving the growth of the segment. For instance, In December 2019, Zentalis Pharmaceuticals, a clinical-stage biopharmaceutical company focused on developing clinically differentiated, novel small molecule therapeutics that target fundamental pathways in cancer, completed US$ 85 million Series C financing. However, the rare diseases segment is expected to register a higher CAGR in the market during the forecast period.
Based on process/phase, the small molecule drug discovery market is segmented into target discovery, target validation, lead generation and refinement, and preclinical development. The lead generation and refinement segment held the largest share of the global small molecule drug discovery market in 2019, owing to increasing investment in drug discovery and rising demand of cost-effective therapeutics. Moreover, the discovery of the target involves identification of disease modifying targets, which acts as one of the essential steps in drug discovery pipeline. However, the target discovery is anticipated to register the highest CAGR during the forecast period.
The small molecule drug discovery market is expected to grow owing to factors such as increasing approval of small molecule drugs, growing demand for R&D from contract organizations, and rising adoption of small molecules in chronic disease treatments. However, high drug development cost is likely to restrain the growth of the market during the forecast period.
The report segments global small molecule drug discovery market as follows:
By Therapeutic Area
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