The global DNA encoded library market involves the use of DNA encoded library techniques for screening compound libraries and enabling efficient identification of lead compounds for drug discovery and development. DNA encoded libraries allow rapid screening of up to trillions of molecules providing an efficient way to identify potential lead compounds with high binding affinity and selectivity. The technique has gained significant popularity as it allows coverage of a huge chemical space in comparison to traditional high-throughput screening methods. Key advantages of DNA encoded libraries include higher throughput, lower costs, and greater structural diversity. Growing application of the technique in hit identification, hit-to-lead, and lead optimization stages of drug discovery are some of the major factors driving growth of the global DNA encoded library market.
The Global DNA encoded library Market is estimated to be valued at US$ 0.8 Bn in 2024 and is expected to exhibit a CAGR of 16.% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the global DNA encoded library are BOC Sciences, DyNAbind, Edelris, GenScript, HitGen. These players are focused on expanding their product portfolio and expanding their footprint globally to strengthen market presence. For instance, in 2022, HitGen partnered with DIOSynVax to leverage DNA-encoded library platform to accelerate vaccine design against emerging infectious diseases.
The DNA encoded libraries techniques offer significant opportunities in terms of its application in target protein screening, small molecule discovery, antibody discovery and protein engineering. Its ability to rapidly screen billions of molecules provides opportunity to screen molecules against various target proteins involved in different disease conditions.
The key players are focused on expanding globally including Asia Pacific and Europe to tap into the opportunities. For instance, in 2022, GenScript established state-of-art DNA encoded library and screening production plant in Suzhou, China to better cater Chinese pharmaceutical and biotech companies. This allows to expand geographic footprint and better serve Chinese and global customers.
Market Drivers
Increasing R&D investment by pharmaceutical companies is a major market driver. Pharmaceutical companies are increasingly focusing on DNA encoded library based techniques to identify novel lead molecules faster and reduce development costs in comparison to traditional techniques. Secondly, technological advancements have allowed development of DNA encoded libraries with higher molecular diversity, simplicity of operation and analysis providing impetus to market growth.
Market Restrains
High capital requirement for setting up DNA encoded library platforms acts as a key market restrain. The instruments and equipment needed for DNA synthesis and sequencing can be costly limiting its adoption. Secondly, the technique requires trained professionals limiting its adoption in underdeveloped and developing countries.
Segment Analysis
The global DNA-encoded library market is dominated by screening segments which holds around 60% share. In this large screening libraries containing millions or billions of compounds are screened against biological targets of interest like proteins to identify active compounds. These screening libraries help in identifying novel lead compounds from DNA-encoded libraries through various biochemical and biophysical screens like fluorescence polarization, ELISA, and cell-based assays.
Regional Analysis
North America is currently the largest and fastest growing regional market for DNA-encoded library. Majority of key players are based in the US and early adoption of advanced technologies. The region is witnessing heavy investments by pharmaceutical and biotechnology companies to identify new drug targets using DNA-encoded library technology. Increasing R&D expenditure and strong government support for developing innovative therapeutics is also boosting the market in North America. Asia Pacific is projected to witness highest growth during the forecast period due to rising genetic and genomic research, growing biotech industry, and improving healthcare infrastructure in key Asian countries like China and India.
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Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163 )
What Are The Key Data Covered In This Global DNA Encoded Library Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Global DNA Encoded Library Market's growth between 2024 and 2031.
:- Accurate calculation of the size of the Global DNA Encoded Library Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Global DNA Encoded Library Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Global DNA Encoded Library Market vendors
FAQ’s
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Q.4 Which of the top Global DNA Encoded Library Market companies compare in terms of sales, revenue, and prices?
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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it