The small molecular drug discovery market size in Europe is anticipated to be worth USD 24.85 billion by 2028 from USD 16.69 billion in 2023, growing at a CAGR of 8.28% from 2023 to 2028.
The rising incidence of chronic diseases, including cancer, diabetes and cardiovascular diseases is one of the major factors propelling the growth of Europe's small molecular drug discovery market. Factors such as lifestyle changes, genetic issues, hormonal changes, and unhealthy diets contribute to the prevalence of these chronic conditions among the population. Healthcare providers recommend small-molecule drugs for their swift recovery and efficacy within patients' bodies. The rising number of breast cancer cases in the region further necessitates the development of small-molecule drugs. Recent surveys indicate that breast cancer accounts for approximately 13% of all new cancer cases in the European region. Small drugs possess advantageous characteristics such as low molecular weight, enabling easy entry into cells and targeted action on proteins or cells.
The growing demand for small molecule drugs in Europe contributes to the European market growth. The heightened awareness among the population regarding the benefits of small-molecule drugs is driving the demand for small-molecule drugs. The availability of these drugs both offline and online further propel the growth rate of the European market. Genetic factors, the growing aging population, rising awareness among the population about small molecule drugs and the availability of small molecule drugs both offline and online support the European market growth. Use of advanced technologies like artificial intelligence and machine learning, favorable regulatory environment and government initiatives supporting drug discovery and development promote the regional market growth.
Stringent regulatory requirements, high development costs and intellectual property issues majorly hamper the growth rate of the European market. Limited access to funding and investment, lengthy and complex clinical trial processes and challenges in drug formulation and delivery further impede the regional market growth. Factors such as safety concerns and adverse effects, competition from generic drugs, limited availability of skilled researchers and scientists and pricing pressures and reimbursement challenges limits the growth rate of the European market.
This research report on the Europe small molecule drug discovery market has been segmented and sub-segmented into the following categories.
By Therapeutic Area:
By Process/Phase:
By Country:
The European region captured a substantial share of the global market in 2022 and is estimated to grow at a prominent CAGR during the forecast period owing to the increasing advancements in drug discovery and increasing support from the governments of European countries. The governments of European countries have implemented initiatives to facilitate the development of small-molecule drugs while ensuring adherence to regulations for drug approval and safety. Manufacturers and healthcare organizations actively promote awareness of small-molecule drugs through television and social media channels to enhance reach and impact.
The UK is predicted to account for a promising share of the European market during the forecast period. The growing R&D efforts from research centers and universities for the development of small molecule drugs particularly for conditions like cystic fibrosis drives the UK market growth. The UK stands out as a leading producer of drugs, cells, and vaccines, with a dedicated focus on small-molecule drugs. Recent years have witnessed an expansion of manufacturing centers in the country aimed at reducing drug wastage and delivering cost-effective solutions.
Germany is estimated to witness a healthy CAGR during the forecast period in the European market owing to the growing number of clinical trial centers and laboratories. These centers contribute to the introduction of novel small-molecule drugs, conducting rigorous testing to evaluate their efficacy and disease-fighting capabilities. Furthermore, the German market benefits from growing partnerships, the presence of key players, and the organization of summits focused on advancing small molecule drug development, collectively driving the German market growth.
KEY MARKET PARTICIPANTS:
Novartis AG (Switzerland), Roche Holding AG (Switzerland), AstraZeneca PLC (United Kingdom), GlaxoSmithKline PLC (United Kingdom) and Bayer AG (Germany) are some of the major players in the Europe small molecule drug discovery market.
Frequently Asked Questions
Novartis AG (Switzerland), Roche Holding AG (Switzerland), AstraZeneca PLC (United Kingdom), GlaxoSmithKline PLC (United Kingdom) and Bayer AG (Germany) are some of the major players in the Europe small molecule drug discovery market.
The growth rate of the europe small molecular drug discovery market is 8.28% during the forecast period.
The europe small molecular drug discovery market size is projected to reach USD 24.85 billion by 2028.
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