Small Molecule Drug Discovery Market
Number of pages: 100 | Report Format: PDF | Published date: June 16, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 49.09 billion |
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Revenue Forecast in 2031 |
US$ 98.13 billion |
|
CAGR |
8.0% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Therapeutic Area, Process/Phase, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global small molecule drug discovery market was valued at US$ 49.09 billion in 2022 and is expected to register a revenue CAGR of 8.0% to reach US$ 98.13 billion by 2031.
Small Molecule Drug Discovery Market Fundamentals
Small molecule drug discovery refers to the scientific process of identifying and developing new therapeutic compounds that are relatively small in size and have the potential to interact with specific targets in the body to produce a therapeutic effect. These small molecules are typically organic compounds with a molecular weight ranging from a few hundred to a few thousand atomic mass units. Small molecule drug discovery aims to find compounds that can selectively bind to specific biological targets, such as proteins, enzymes, or receptors, and modulate their activity in a desired manner. By interacting with these targets, small molecules can influence biochemical pathways, cellular processes, or physiological functions, thereby treating or preventing diseases.
Small Molecule Drug Discovery Market Dynamics
The growing prevalence of various diseases, such as cancer, cardiovascular disorders, infectious diseases, and neurological conditions, creates a high demand for effective treatment options. Small molecule drugs have successfully targeted a wide range of diseases, driving the need for continuous research and discovery of new compounds. According to the study published by Frontiers, Neurological conditions caused almost 10 million deaths and 349 million DALYs worldwide in 2019. Advancements in technology have significantly enhanced the efficiency and speed of small-molecule drug discovery. High-throughput screening (HTS), combinatorial chemistry, computer-aided drug design (CADD), and structural biology techniques enable researchers to screen and analyze many compounds more effectively, accelerating the drug discovery process. Comprehensive genomic and proteomic data availability has provided researchers with valuable insights into disease mechanisms and potential drug targets. This information aids in identifying and validating specific biological targets, facilitating the discovery of small-molecule drugs that can modulate these targets. The pharmaceutical industry, government organizations, and private investors recognize the significant potential of small molecule drug discovery.
Consequently, there has been a notable increase in funding and investment in research and development (R&D) activities, fueling the growth of the small molecule drug discovery market. AI and ML techniques are being integrated into various stages of small molecule drug discovery. These technologies facilitate the analysis of large-scale biological and chemical data, enabling more efficient virtual screening, prediction of compound properties, and optimization of lead compounds. AI-driven approaches have the potential to accelerate the drug discovery process and improve success rates which is also increasing the small molecule drug discovery market demand.
However, drug discovery and development is a complex and resource-intensive process with a high failure rate. Many potential small molecule candidates fail to progress beyond preclinical and clinical stages due to issues such as lack of efficacy, safety concerns, or unforeseen toxicities, which is restricting the small molecule drug discovery market growth. Regulatory agencies impose stringent requirements for small molecule drug safety, efficacy, and quality. Meeting these requirements involves conducting extensive preclinical and clinical studies, which can significantly prolong the development timeline and increase costs, thus cramping the small molecule drug discovery market growth.
Small Molecule Drug Discovery Market Ecosystem
The global small molecule drug discovery market is analyzed from three perspectives: therapeutic area, process/phase, and region.
Small Molecule Drug Discovery Market by Therapeutic Area
Based on the therapeutic areas, the global small molecule drug discovery market is segmented into the central nervous system, cardiovascular, oncology, metabolic disorders, gastrointestinal, respiratory, and others.
The oncology segment accounted for the largest small molecule drug discovery market share in 2022. Cancer is a leading cause of morbidity and mortality worldwide, with a high prevalence and increasing incidence rates. The growing burden of cancer creates a significant demand for effective therapies, driving investment and research in oncology drug discovery. According to the World Cancer Research Fund International, in 2020, there will be an estimated 18.1 million cancer cases worldwide. Men accounted for 9.3 million of the cases, while women accounted for 8.8 million. Cancer is a highly complex and heterogeneous disease, comprising numerous subtypes with distinct molecular profiles and mechanisms. Small molecule drugs offer the advantage of targeting specific molecular pathways or genetic alterations associated with different types of cancer. Over the years, extensive research has identified numerous molecular targets involved in cancer development and progression. These targets include specific enzymes, receptors, signaling pathways, and genetic alterations that small molecule drugs can modulate. Small molecule drugs have demonstrated significant success in treating various cancers, leading to increased confidence and investment in this therapeutic area.
The central nervous system (CNS) segment accounted for a considerable revenue share of the small molecule drug discovery market. Disorders of the CNS, such as Alzheimer's disease, Parkinson's disease, multiple sclerosis, epilepsy, and psychiatric disorders, affect a significant portion of the global population. The increasing prevalence of these disorders creates a substantial demand for effective therapies, driving research and development in the CNS segment of small molecule drug discovery. According to the WHO, globally, the frequency of Parkinson’s disease has more than doubled in the last 25 years, with over 8.5 million people living with the disease in 2019. In 2019, Parkinson’s disease resulted in 5.8 million disability-adjusted life years, an 81% increase since 2000, and 329,000 fatalities, a more than 100% increase since 2000. Despite the high prevalence of CNS disorders, there remains a significant unmet need for safe and effective treatments. Many CNS disorders are chronic and progressive, with limited treatment options available. Small molecule drugs have the potential to modulate specific targets in the CNS, such as neurotransmitter receptors or enzymes, and address the underlying mechanisms of these disorders. One of the challenges in CNS drug discovery is the ability of drugs to cross the blood-brain barrier, which protects the brain from potentially harmful substances. Small molecule drugs, due to their relatively small size and lipophilic properties, have a better chance of penetrating the blood-brain barrier and reaching the target sites in the CNS.
Small Molecule Drug Discovery Market by Process/Phase
Based on the process/phases, the global small molecule drug discovery market is segmented into hit generation and selection, lead identification, target ID/validation, and lead optimization.
The target ID/validation segment accounted for the prominent small molecule drug discovery market share in 2022. Identifying and validating suitable targets is essential to ensure the development of effective drugs. By understanding the biological processes and molecular targets associated with a disease, researchers can design small molecules that specifically interact with these targets, leading to desired therapeutic effects. Target id/validation helps guide the subsequent stages of the drug discovery process, increasing the chances of success. Target identification and validation allow researchers to focus on specific molecular targets involved in disease pathways, improving the specificity and selectivity of small molecule drugs. This helps minimize off-target effects and reduces the risk of adverse reactions. Early target id/validation enables researchers to streamline the drug discovery process. By selecting validated targets, researchers can focus on developing small molecules that are more likely to succeed, reducing the time and cost associated with unsuccessful drug candidates.
Small Molecule Drug Discovery Market by Region
Geographically, the global small molecule drug discovery market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The North America region has the largest small molecule drug discovery market size in revenue generation, accounting for around 34.7% market share. North America faces a high burden of chronic diseases, including cancer, cardiovascular, neurological, and metabolic disorders. This creates a substantial market demand for effective treatments, driving investment and research in small molecule drug discovery. According to the American Cancer Society, in 2022, an estimated 1.9 million new cancer cases were diagnosed in the U.S. North America is home to a thriving pharmaceutical industry, with a strong presence of major pharmaceutical companies, biotech firms, and academic research institutions. The region has a rich research and development infrastructure, expertise, and funding ecosystem, which drives innovation in small molecule drug discovery. North America leads the way in technological advancement in drug discovery. Advances in high-throughput screening, computer modeling, structure-based drug design, and other technologies that improve the efficiency and success rates of small molecule drug development help the region. North America has renowned research universities, academic institutions, and medical centers that contribute to the advancement of small molecule drug discovery. These institutions foster collaborations between academia and industry, enabling the translation of scientific discoveries into practical applications.
Small Molecule Drug Discovery Market Competitive Landscape
The prominent players operating in the global small molecule drug discovery market are:
Small Molecule Drug Discovery Market Strategic Developments
Small molecule drug discovery refers to the scientific process of identifying and developing new therapeutic compounds that are relatively small in size and have the potential to interact with specific targets in the body to produce a therapeutic effect. These small molecules are typically organic compounds with a molecular weight ranging from a few hundred to a few thousand atomic mass units.
Asia Pacific is the key growth region in the global market during the forecast period from 2023 to 2031.
The prominent players operating in the global small molecule drug discovery market are Pfizer Inc., Thermo Fisher Scientific Inc., Merck KgaA, Charles River Laboratories, and Teva Pharmaceutical Industries Ltd.
Market players are allocating significant resources to research and development (R&D) activities. This includes investments in innovative technologies, high-throughput screening platforms, computational modeling, and other tools to enhance small molecule drug discovery's efficiency and success rates.
The estimated size of the global small molecule drug discovery market in 2031 is US$ 98.13 billion.
*Insights on financial performance are subject to the availability of information in the public domain