The drug discovery services market is projected to reach USD 75.13 billion by 2034, growing at a CAGR of 14.6% during the forecast period.

The drug discovery services market was valued at USD 19.27 billion in 2024 and is projected to grow from USD 22.04 billion in 2025 to USD 75.13 billion by 2034, registering a CAGR of 14.6% during the forecast period (2025–2034). This market involves offering research and development services to pharmaceutical and biotechnology companies to support the identification, optimization, and advancement of new drug candidates through the early stages of the drug development process.

Market Definition

The Drug Discovery Services Market refers to the industry that provides outsourced research and development services to pharmaceutical, biotechnology, and academic institutions for the identification and development of new drug candidates. These services include target identification and validation, hit-to-lead development, lead optimization, preclinical testing, and early-stage clinical trial support. The market enables companies to accelerate drug development timelines, reduce costs, and access specialized expertise and advanced technologies.

Key Report Highlights

· The report highlights the key region that accounts for the highest revenue share in the global Drug Discovery Services market.

· It identifies the leading country within this region that makes a significant contribution to the market’s overall performance.

· The report outlines the dominant segment that holds a major share of the market.

· It also emphasizes the fastest-growing segment projected to gain strong traction during the forecast period.

· Qualitative and quantitative market analysis have been used to provide an in-depth understanding of the market.

Market Overview: Key Figures at a Glance

· Market Value in 2025 : USD 22.04 billion

· Projected Market Size in 2034: USD 75.13 billion

· Anticipated CAGR 2025-2034:14.6 %

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Market Growth Drivers

Rising Demand for Novel Therapeutics

The increasing prevalence of chronic diseases, cancer, and rare disorders is driving the need for innovative drug development.

High Cost and Complexity of In-House R&D

Pharmaceutical and biotech companies are outsourcing drug discovery to reduce operational costs and leverage specialized expertise.

Expansion of Biopharmaceutical and Biotechnology Sectors

Growth in these industries fuels demand for external research services to support complex biologic and small molecule drug development.

Technological Advancements in Drug Discovery

Innovations in AI, machine learning, high-throughput screening, and genomics are enhancing the speed and accuracy of drug discovery processes.

Increase in Strategic Collaborations and Outsourcing

Partnerships between pharma companies and contract research organizations (CROs) are becoming more common to streamline drug pipelines.

Market Key Players

The competitive landscape features a mix of long-standing companies and emerging contenders. Leading players are actively pursuing R&D initiatives and strategic moves to strengthen their market position. Notable participants include