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Global Drug Discovery Services market is projected to grow at a CAGR of 15.17% by 2032; Visiongain Reports Ltd

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Visiongain has published a new report entitled Drug Discovery Services 2022-2032. It includes profiles of Drug Discovery Services and Forecasts Market Segment Services Type (Chemistry Services, Drug Metabolism and Pharmacokinetics (DMPK), Biology Services), Market Segment by Process (Hit to Lead Identification, Lead Optimization, Target Selection, Target Validation, Candidate Validation), Market Segment by Drug Type (mall Molecules, Biologics), Market Segment by Therapeutic Area (Oncology, Neurology, Infectious and Immune System Diseases, Cardiovascular Diseases, Respiratory Diseases, Digestive System Diseases, Other Therapeutic Areas), Market Segment by Technology (High Throughput Screening, Biochips, Nanotechnology, Spectroscopy, Pharmacogenomics and Pharmacogenetics, Others), Market Segment by End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Others) plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country.

The global drug discovery services market is anticipated to be valued at US$14.17 billion in 2022 and is projected to grow at a CAGR of 15.17% during the forecast period 2022-2032.

Rising Demand for Novel Therapies for Various Therapeutic Areas
The rising demand for novel medicine for chronic diseases coupled with development in the global healthcare sector is anticipated to drive drug discovery services market growth. Pharma and biopharma firms continue to outsource their research and development (R&D) activities to contract research organisations (CROs), who have positioned themselves to provide best-in-class R&D services and create engagement models to maximise R&D productivity and reduce the financial burden placed on pharmaceutical corporations. The rising burden of chronic diseases is enforcing government and pharmaceutical companies to look for the solution and rising investment in clinical trials. Therefore, the demand for drug discovery services will rise. However, due to lack of skilled labours and the high rate of target drug molecule failure will be the major restraint to the market.

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https://www.visiongain.com/report/dds-market-2022/#download_sampe_div

How has COVID-19 had a Significant Positive Impact on the Drug Discovery Services Market?

The sudden onset and spreading of the SARS-CoV-2 motivated international multilateral organisations and private funders to pool their funds to support the development of an effective vaccine to combat the coronavirus and its variants. Around the world, a vast number of scientists, technologists, and data managers are involved in everything from laboratory investigations to clinical trials. The COVID-19 intervention has helped the government and healthcare sectors understand the value and necessity of drug discovery for the development of effective medications. As a result, many businesses have increased their R&D spending, and the government has placed a strong emphasis on drug discovery and development, which has a favourable impact on the market for drug discovery services.

How will this Report Benefit you?

Visiongain’s 687-page report provides 259 tables and 493 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses of the global drug discovery services market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for drug discovery services. Get financial analysis of the overall market and different segments including services type, process, therapeutic area, drug type, technology, and end user company size and capture higher market share. We believe that there are strong opportunities in this fast-growing drug discovery services market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.

What are the Current Market Drivers?

Rising Chronic Disease Burden to Fuel Market Growth Over the Next Decade
Chronic conditions like diabetes, dementia and cardiovascular disease entail high socio-economic costs in addition to a high and rising patient illness burden. Seven out of ten fatalities globally are caused by them, which account for more than 40 million deaths annually. The majority of healthcare expenses in the U.S. are attributed to chronic diseases, which are key reasons for death and disability. As a result, the prevalence of chronic diseases is projected to drive the global market for drug discovery services over the course of the forecast period as this will result in an increase in R&D spending and research activities for the creation of novel drugs. The increased prevalence of these chronic diseases leads to high demand for medications and opens up new economic prospects for companies that provide drug discovery services.

High Demand for Outsourcing Clinical Trial Services
To increase profitability and lower total R&D costs, major pharmaceutical companies are collaborating with clinical research organizations (CROs) to provide drug discovery services. The rising research and development expenditure, to reduce the overall cost of drug discovery and development, pharmaceutical companies are opting for fully integrated outsourcing services to aid their drug research and development.

Where are the Market Opportunities?

Intervention of Artificial Intelligence for Drug Discovery
The intervention of artificial intelligence (AI) to analyse the results and studies will benefit the drug discovery. Artificial intelligence can aid in analysing the structure of proteins before a molecule is synthesised or produced, this can help forecast how it will affect the target as well as safety implications. In the same manner, AI is a promising technology to ease drug discovery. As a result, the market for drug discovery services will experience significant growth over the course of the projected period.

Competitive Landscape
The major players operating in the drug discovery services market are BioBlocks, Inc, Charles River Laboratories, Domainex, Eurofins Scientific, Evotec, Jubilant Pharmova Limited Company, Labcorp Drug Development (Parent Company Laboratory Corporation of America Holdings), Thermo Fisher Scientific Inc., Sygnature Discovery, and WuXi AppTec among other players. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.

Recent Developments

  • On 3rd December 2021, Labcorp acquired the contract research company Toxikon Corporation. The addition of Toxikon is anticipated to expand the company’s product portfolio.
  • On 25th January 2022, Evotec and Boehringer Ingelheim formed a target and drug development cooperation focused on induced pluripotent stem cell (“iPSC”)-based disease modelling for ophthalmologic illnesses.  

To find more Visiongain research reports on the Pharma sector, click on the following links:

Do you have any custom requirements we can help you with? Any need for a specific country, geo region, market segment or specific company information? Contact us today, we can discuss your needs and see how we can help: [email protected]

About Visiongain

Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.

Contact:
Dev Visavadia
PR at Visiongain Reports Limited
Tel: + 44 0207 336 6100
Email: [email protected]

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Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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Artificial Intelligence

ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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