The rise in CAGR of fragment-based drug discovery can be credited to the factors such as efficiency, moderate controlling property, and it’s highly competitive nature in the market.
The fragment-based drug discovery market is likely to witness a growth at a steady CAGR of 14.4% from 2015 to 2023 in terms of revenue.
The revenue was expected to grow worth US$435.6 mn at the end of 2016, and by the end of 2023, the market is evaluated to reach US$1.15 bn. Based on geographical regions, North American region is dominating the other ones.The market evaluation of the region is anticipated to be around 45.4% of the entire market, by the end of 2023. Even though the statistics are likely to drop as compared to those in 2014, but still the region is expected to dominate without any competition or external obstruction.
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Increased Popularity in Biopharmaceutical Industry Fuels the Market Demand for Fragment-based Drug Discovery
As the fragment-based drug discovery technique has been introduced in the market, the industry has experienced a noticeable reduction in cost as well as time, which has fueled its demand in the market. The technique has also been helpful in biophysics, and discovery of weak inhibitors.
Some of the recently introduced practices include high-throughput screening and combinational chemistry. These techniques have increased the pace and reduced the cost of fragment-based drug discovery programs.
The technique is also anticipated to witness a growth in biopharmaceutical industry. Fragment-based drugs discovery technique have discovered an incredible scope of usage in the biopharmaceuticals.
This incorporates large firms, CROs, and educational sectors. These procedures have helped greatly in developing a solutions that would lead to achieve enhanced rate of development essentially finished the regular screening techniques.
The technique is also used for the ideation of several other chemical compound. By the end of 2023, the fragment-based drug discovery market is anticipated to draw a revenue worth US$565.2 mn.
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However, the demand for fragment-based drug discovery market is anticipated to experience a downfall because of low ability of fragment screening, which happens to be a well-known element in several compounds. End-users are also reluctant to experiment with the technique due to lower rate of efficiency.
Lower than Minimum Efficiency Level to Hamper the Market Growth of Fragment-based Drug Discovery
Although fragment-based drug discovery market is quite developed as compared to previous years, the available solutions are still not very efficient. There are still are4as where the usage of these drugs will results only in inefficient results.
This factor is likely to hamper the growth of fragment-based drug market. Moreover, it is also expected to pull down the cost of the drugs too.
In spite of having several strict reforms and regulations have been made across the world, related to drug discovery and development, the efficacy and curing capability of the drugs has always been a point of concern. As a result, due to lower efficiency than expected, the fragment-based-drug discovery market growth is likely to be declined.
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The global fragment-based drug discovery market is anticipated to experience some intense growth in coming years due to the emergence of leading players in the market, states Transparency Market Research (TMR) in its latest research report. According to a recent news report by one of the significant company in the market Astex Pharmaceuticals which has a partnership with Newcastle University, and Cancer Research UK has extended its tie-up for three more years in order to work upon and develop some effective small molecule remedies.
The agreement also has the provision to extend the partnership after the end of three years. Crown Bioscience, Inc., Alveus Pharmaceuticals, Evotec AG, Beactica AB, BioFocus, Emerald BioStructures, Charles River Laboratories International, Inc., Proteros Fragments, Kinetic Discovery, Sprint Bioscience, Sygnature Discovery, and Structure Based Design are some of the key players dominating the global market for fragment-based drug discovery.
Among these, Astex Pharmaceuticals and Charles River Laboratories International, Inc. and are the market leaders.
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