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Global Drug Discovery Technologies Market to Exceed $57 Billion by 2012, According to a New Report by Global Industry Analysts
Date:11/4/2008

Driven by the emergence of innovative technologies such as microfluidics, genomics, high throughput screening and proteomics, world market for drug discovery technologies is projected to reach $57.7 billion by 2012. Despite the heavy costs involved in discovery of new drugs, investments in pharmaceutical research and development are reaching new highs encouraged by evolving medical standards, favorable demographic trends and shifting preferences of the medical community towards technologically advanced products.

San Jose, CA (PRWEB) November 4, 2008 -- Drug discovery has become an integral and ongoing element of every pharmaceutical company's business strategy. There are a number of new technologies that are increasingly being used to enhance pharmaceutical R&D. These technologies include bioanalytical instruments, genomics, pharmacogenomics, combinatorial chemistry, biochip, proteomics, bioinformatics and high throughput screening (HTS). Use of emerging technologies in drug discovery such as lab on a chip (LOC), nanotechnology and RNA interference (RNAi) is increasing at a rapid pace given their ability to expedite, and improve the efficiency of drug discovery processes and reducing time-to-market.

As stated by the recent report published by Global Industry Analysts, Inc., drug discovery technologies market is dominated by the United States and Europe, which together account for over 78% of the world market estimated in the year 2008. Worldwide Bioanalytical instruments market, the largest segment of the drug discovery technologies marke
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Global Drug Discovery Technologies Market to Exceed $57 Billion by 2012, According to a New Report by Global Industry Analysts
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