Fragment-based Drug Discovery Library and Service Providers Market by Type of Technique

Mason98724 May, 2021Health

Drug discovery and development is a complex and tedious process that requires a significant amount of resources and capital investment (~USD 2.6 billion). In fact, on an average, the journey from the establishment of initial proof-of-concept to commercial launch, is estimated to take around 10-12 years. However, only a small fraction of early stage therapeutic candidates are able to make it past preclinical testing, into clinical evaluation. Further, even fewer clinical stage candidates are eventually approved for commercialization. Given the growing complexity in drug discovery research, the overall expenditure on pharmaceutical / biotechnology R&D has steadily increased over time. Specifically, in 2019, R&D spending was estimated to be around USD 182 billion, with more than 16,000 drug molecules evaluated during the course of the whole year. The industry is presently under tremendous pressure to not only identify ways to mitigate the risks of failure of drug discovery programs, but a