Drug Discovery Market Key Players-Business, Corporate Growth, Manufacturers and Recent Developments

Top Companies in the Drug Discovery Market

• Atomwise
• BenevolentAI
• Charles River Laboratories
• Certara
• Evotec
• Exscientia
• Genedata
• Insilico Medicine
• IQVIA
• Labcorp / Covance
• Novartis (discovery & platform investments)
• Recursion Pharmaceuticals
• Schrödinger
• Thermo Fisher Scientific
• WuXi AppTec

Drug Discovery Market Growth:

The global drug discovery market size is calculated at USD 65.88 billion in 2024, grew to USD 71.96 billion in 2025, and is projected to reach around USD 160.11 billion by 2034. The market is expanding at a CAGR of 9.24% between 2025 and 2034.

Drug Discovery Market Trends

Increasing Collaboration: Key players collaborate to access advanced technologies and take advantage of each other’s expertise.

• In September 2025, Infinimmune announced a collaboration with Immunome, Inc. to discover and optimize novel antibodies. This collaboration enables Infimmune to optimize and engineer leads into high-fidelity, development-ready therapeutic candidates using Immunome’s GLIMPSE and Anthrobody platforms.

Increasing Investments: Investments enable companies to expand their facilities and functionalities, improving their operations.

• In September 2025, GSK announced an investment of $30 billion across the U.S. in research and development and supply chain infrastructure over the next five years. This investment will support drug discovery and development and clinical trial activity, strengthening the nation’s position.

Value Chain Analysis - Drug Discovery Market

R&D

Drug discovery R&D involves 5 steps: 1) Target identification & validation; 2) lead discovery; 3) lead optimization; 4) preclinical testing; 5) clinical trials. These steps play a vital role in developing safe and effective drugs.

Key Players: Roche, Pantheon Pharma Services, and Bristol Myers Squibb.

Clinical Trials & Regulatory Approvals

Clinical trials are conducted to assess the safety and efficacy of novel drugs on humans in different phases. The results obtained from clinical trials are considered by regulatory agencies to provide marketing authorization to a drug.

Key Players: Charles River Laboratories, Eli Lilly & Company, and AbbVie.

Patient Support & Services

Patients are involved in the research and clinical trial process to help shape the development of valuable drugs through their symptoms and treatment outcomes. Patient support & services also refer to providing reimbursement for expensive targeted therapeutics.

Latest Announcement by Industry Leaders

Dr. Neil Torbett, CEO of PhoreMost, commented that the FDA-approved molecular glues have treated millions of patients and generated billions of dollars in revenue. The company’s GlueSEEKER can radically enable the discovery of new molecular glue therapies, directing this modality towards specific targets across a broad array of E3 ligases.

Recent Developments in the Drug Discovery Market

• In July 2025, Microsoft announced the launch of a new AI system, Biomolecular Emulator - 1 (BioEmu-1), to decode protein motion and help in the faster discovery of drugs. The platform leverages deep learning to generate thousands of protein structures per hour on a single GPU.
• In June 2025, researchers from Northwestern University developed SOAR (Spatial transcriptOmics Analysis Resource) to allow scientists to explore how genes behave differently in various body parts. The platform contains data across 441 spatial transcriptomics datasets from 13 species and 42 tissue types.

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