The Oncology Segment Held Largest Share in Small Molecule Drug Discovery Market in 2019

According to our new market research study on “Asia Pacific Small Molecule Drug Discovery Market to 2027 – Regional Analysis and Forecast – by Therapeutic Area, and Process/Phase” the market is expected to reach US$ 8,797.47 million by 2027 from US$ 4,146.40 million in 2019; it is estimated to grow at a CAGR of 10.1% from 2020 to 2027. The report provides trends prevailing in the Asia Pacific small molecule drug discovery market and the factors driving the market growth along with those hindering it.

The small molecule drug discovery market on the basis of therapeutic area is segmented into oncology, central nervous system, cardiovascular, respiratory, orthopedics, immunology, rare diseases, and other therapeutic areas. In 2019, the oncology accounted for the highest share by therapeutic area. This attributes to the increasing need for better understanding of the disease and develop effective therapies to combat the increasing prevalence of the disease. Furthermore, there are potential untapped opportunities in cancer to discover targets that can yield into a viable drug compounds thereby propelling market players to conduct research on these areas. The dominance of the oncology segment is further attributed to huge investments made by the biopharmaceutical companies in identifying new small molecules of cancer, inclination towards immune-oncology therapies and others.

The growth of the Asia Pacific small molecule drug discovery market is mainly attributed as increasing approval of small molecule drugs, growing demand for R&D from contract organizations, and rising adoption of small molecules in chronic disease treatments in the country. However, the high drug development cost is the major factor hindering the market growth in Asia Pacific.

A few of the leading companies operating in the Asia Pacific Small molecule drug discovery market are Pfizer Inc, GlaxoSmithKline plc, Johnson & Johnson Services, Inc, Gilead Sciences, Inc, and Teva Pharmaceutical Industries Ltd.

Asia Pacific Small molecule drug discovery Market, By Country, 2019 (%)

The report segments Asia Pacific Small molecule drug discovery market as follows:

Asia Pacific Small molecule drug discovery Market – By Therapeutic Area

• Oncology
• Central Nervous System
• Cardiovascular
• Respiratory
• Orthopedics
• Immunology
• Rare Diseases
• Other Therapeutic Areas

Asia Pacific Small molecule drug discovery Market – By Process/Phase

• Target Discovery
• Target Validation
• Lead Generation and Refinement
• Preclinical Development

Asia Pacific Small Molecule Drug Discovery Market – By Country

• Asia Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia