Market Trends of Small Molecule Drug Discovery Industry
Target ID/Validation Segment is Expected to Witness High Growth Over the Forecast Period
Target identification is made to identify a small molecule's direct molecular target, such as protein or nucleic acid. In the case of clinical pharmacology, target identification is aimed at finding out the efficacy of the target of the drug molecule. The main objective of target validation is to identify and access the chances of a molecular target in achieving the development of pharmaceuticals for therapeutic application. Three key distinct and complementary approaches are used for target identification and validation: genetic interaction, direct biochemical, and computational interference. In many cases, combinations of multiple approaches may be required to characterize the target entirely.
Technology is crucial in every small molecule drug discovery aspect, from target identification and validation to lead optimization. Hence, technological advancements have been acting as a driving factor for the market segment. For instance, in August 2021, Insilico Medicine, one of the industry leaders in end-to-end artificial intelligence for target discovery, small molecule chemistry, and clinical development, and Usynova signed a strategic cooperation to advance the development of small molecule innovative therapies.
The market segment growth is also propelled by the increasing burden of diseases such as cancer, Alzheimer, and others, as with the increasing burden of diseases, there is an increasing need for research and development for better and more effective therapeutics.
Therefore, technological advancements are expected to drive segmental growth in the market during the forecast period.
North America Expected to Dominate the Market Over the Forecast Period
North America currently dominates the overall market for small molecule drug discovery market owing to the rising cases of various chronic diseases, such as cardiovascular disease, cancer, etc., and increasing approval of new small molecules in the region. According to the American Cancer Society's 2022 statistics, it is estimated that in 2022, there will be 1,918,030 new cases of cancer in the United States, of which 983,160 will be among males and 934,870 will be among females. Furthermore, according to the Canadian Cancer Society 2022, there are 233,900 new cancer cases in Canada in 2022. Such a high burden of cancer is expected to drive the market's growth as small molecules are primarily employed in the treatment of cancer.
Strategic initiatives such as partnerships and collaborations undertaken by the market players are expected to drive the growth of the segment in the region. For instance, in January 2022, Amgen and Arrakis Therapeutics signed a research collaboration focused on the discovery and development of RNA degrader therapeutics against a range of difficult-to-drug targets in multiple therapeutic areas. This new class of targeted RNA degraders consists of small-molecule drugs that selectively destroy RNAs encoding disease-causing proteins by inducing their proximity to nucleases. Such research collaborations are expected to boost the growth of the market in the region.
Thus, owing to the factors such as the rising cases of various chronic diseases, and increasing approval of new small molecules, the studied market in the North American region is expected to project growth over the forecast period.
