The Global Fragment Based Drug Discovery Market is a lucrative segment that involves screening compound libraries to discover drug leads and candidates. Fragment based drug discovery makes use of biophysical screening methods to detect weak binding fragments from compound libraries that can then grow into drug-like molecules. Some of the key advantages of fragment based screening include identifying binding poses that may be hard to find using high throughput screening, focusing on regions of chemical space less occupied by existing drugs, and developing fragments into drug candidates in a more efficient manner. The growing need for developing innovative medicines as well as reducing failure rate and costs associated with drug development are driving increasing adoption of fragment based approaches.
The Global Fragment Based Drug Discovery Market is estimated to be valued at US$ 0.795 Bn in 2024 and is expected to exhibit a CAGR of 15.% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Global Fragment Based Drug Discovery Market are Astex Pharmaceuticals, Beactica AB, Charles River Laboratories International, Inc., Evotec AG, and Alveus Pharmaceuticals Pvt. Ltd.
Key opportunities in the market include expanding capabilities across multiple therapeutic areas, particularly oncology and immunology. There is also opportunity for growth through strategic collaborations and partnerships with pharmaceutical companies.
Major players are focussed on global expansion through facility expansion plans and establishing R&D centers in lucrative markets across North America, Europe, and Asia Pacific to tap into the expertise available in these regions and be closer to potential partners.
Market Drivers And Restraints
The key driver fueling the fragment based drug discovery market is the increasing R&D investments by pharmaceutical companies in new drug development. High attrition rates and costs associated with drug development are prompting increased adoption of fragment based screening approaches to accelerate the drug discovery process and improve success rates.
However, high setup and operational costs associated with setting up core capabilities for fragment based screening may restrain market growth. Commercializing screening libraries also requires significant capital investments and expertise that remains challenging for small players. High infrastructure costs associated with biophysical instrumentation and complex data analysis pose a restraint.
Segment Analysis
The Global Fragment Based Drug Discovery Market is dominated by the fragment screens segment. This is because fragment screens are highly sensitive techniques that allow screening of an extensive chemical space to identify small molecule fragments that bind to biological targets with high affinity. Fragment screens help discover novel hits that can be developed as potential drug candidates in early stages of drug R&D. These fragments have properties like solubility and permeability which makes them favorable starting points for drug development.
Global Analysis
Regionally, North America dominates the Global Fragment Based Drug Discovery Market. This is attributed to rising investments by pharmaceutical companies in R&D activities involving advanced drug discovery technologies. Additionally, presence of major market players and availability of latest techniques and facilities for preclinical drug development in the US and Canada contribute to North America's large market share. Europe holds the second largest market owing to increasing government funding for translational research. Meanwhile, Asia Pacific is projected to witness the highest growth during the forecast period. This is backed by growing investments by pharmaceutical giants to establish research centers and manufacturing facilities in emerging Asian countries.
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What Are The Key Data Covered In This Global Fragment Based Drug Discovery Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Global Fragment Based Drug Discovery Market's growth between 2024 and 2031.
:- Accurate calculation of the size of the Global Fragment Based Drug Discovery Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Global Fragment Based Drug Discovery 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 Fragment Based Drug Discovery Market vendors
FAQ’s
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Q.4 Which of the top Global Fragment Based Drug Discovery 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