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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

t, is projected to rise by US$7827.9 million over the period 2008 to 2012. Driven by aging population, rise in disease incidence, and favorable governmental initiatives, market for Pharmacogenomics in Europe is projected to reach US$2.6 billion by 2015. Pharmacogenomics testing helps optimize drug therapy by enabling the study of gene interactions with drugs. This thereby lowers the number of clinical trials and the cost and time pressures involved therein.

Major pharmaceutical companies have been aggressively conducting internal research and development programs to generate new marketable products, materials and technologies. Although the number of new products emerging from R&D each year is rising significantly, percentage of successful product commercialization and launches averages to just 10-15% of drugs under research. Given the hefty funds that need to be injected into clinical trials of new drugs, pharmaceutical outsourcing is gaining preeminence in both the drug discovery and drug development phases. Pharmaceutical companies are also forming collaborations with drug discovery facilitators such as Contract Research Organizations (CRO), and university research centers.

Key players in the global and regional Drug Discovery Technologies market include Abbott Laboratories, Affymetrix, Agilent Technologies, Albany Molecular Research, Amersham Biosciences, Applera Corporation, ArQule, AstraZeneca, BD Biosciences, Bio-Rad Laboratories, BioSciences Group, Caliper Life Sciences, Capital GenomiX, Caprion Proteomics, Charles River Laboratories International, ChemBridge Corporation, deCODE Genetics, Evotec AG, Galapagos NV, Incyte Corporation, Infinity Pharmaceuticals Inc, Invitrogen Corporation, Medarex, Merck & Co., Millennium Pharmaceuticals, National Center for Drug Screening, Per
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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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