by The global DNA encoded library market is widely being used by pharmaceutical companies to drive drug discovery trends due to its ability to screen hundreds and thousands of compounds in a relatively short period of time as compared to conventional methods. DNA encoded libraries consist of large DNA molecule repositories encoding small molecule structures that assist in identifying hit compounds for drug development.
The market is estimated to be valued at US$ 0.8 Bn in 2024 and is expected to exhibit a 16.% CAGR over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Global DNA Encoded Library Market are BOC Sciences, DyNAbind, Edelris, GenScript, and HitGen. BOC Sciences offers DNA-encoded library services and DNA-encoded small molecule library products to researchers globally.
The growing demand for DNA encoded libraries in drug discovery from pharmaceutical and biotechnology companies is expected to drive market growth during the forecast period. These libraries help streamline the drug discovery process by enabling high-throughput screening of thousands of small molecules simultaneously.
Major players are expanding their geographic presence globally to leverage business opportunities. For instance, in 2022, Edelris opened a new application laboratory and screening facility in Basel, Switzerland to support its growing customer base in Europe, the Middle East, and Africa with DNA-encoded library screening and data analysis.
Market Key Trends
The integration of artificial intelligence and machine learning capabilities is one of the key trends witnessed in the global DNA encoded library market. Vendors are offering platforms that combine DNA encoded library screening data with AI/ML algorithms to enhance hit identification and accelerate lead discovery. For example, the HitGen encoding and screening platforms are equipped with in-house developed cheminformatics and deep learning algorithms for compound property prediction and screening data analysis. This significantly improves screening accuracy and speeds up the drug candidate identification process.
Porter’s Analysis
Threat of new entrants: High capital requirements and threats from existing established players create barriers for new players to enter the market.
Bargaining power of buyers: Buyers have low bargaining power due to the availability of differentiated products from various established players in the market.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of alternative raw material and component suppliers in the market.
Threat of new substitutes: Low threat of new substitutes due to the absence of any close substitute for DNA encoded library and limited possibility of technical substitution.
Competitive rivalry: Intense competition exists among the major players to gain higher market share.
Geographical Regions
North America dominates the global DNA encoded library market and holds around 50% share of the total market value owing to increased R&D investments by biopharmaceutical and biotechnology companies in the region.
The Asia Pacific region is expected to be the fastest growing market during the forecast period owing to increasing public and private investments to push life science research, growing biotech and pharmaceutical industries, and improving healthcare infrastructure in emerging countries such as China and India.
What Are The Key Data Covered In This Global DNA Encoded Library Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Global DNA Encoded Library Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Global DNA Encoded Library Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Global DNA Encoded Library Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Global DNA Encoded Library Market vendors
FAQ’s
Q.1 What are the main factors influencing the Global DNA Encoded Library Market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Global DNA Encoded Library Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Global DNA Encoded Library Market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
