DNA encoded libraries have gained traction as a viable solution for drug discovery. These combinatorial chemical libraries hold thousands to billions of small molecules that are physically linked to their encoding DNA sequences, enabling rapid screening methods to identify lead compounds for drug development. The DNA-tagged small molecules can be tested against biological targets of interest in parallel. Hits identified can then be rapidly decoded and their structures determined based on the DNA sequence. This provides quicker access to a larger small molecule chemical space for developing potential therapeutics. DNA encoded libraries offer advantages over traditional high-throughput screening methods by reducing the time and cost required to identify lead compounds.
The Global DNA Encoded Library Market is estimated to be valued at US$ 0.8 Bn in 2024 and is expected to exhibit a CAGR of 16.% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Global DNA Encoded Library are BOC Sciences, DyNAbind, Edelris, GenScript, HitGen. These companies have played a pivotal role in developing DNA encoded library technologies and platforms.
Growing demand from pharmaceutical and biotechnology companies for expediting the drug discovery process has propelled the demand for DNA encoded libraries in recent years. DNA encoded libraries enable evaluation of billions of compounds in parallel to identify lead molecules effectively.
Increasing research collaborations between DNA encoded library platform developers and drug makers and expanding geographical presence especially in emerging markets are fueling the global expansion of the DNA encoded library market.
Market Drivers
One of the major market drivers for the Global DNA Encoded Library Market is the shorter timelines and reduced costs associated with identifying hit compounds for drug development using DNA encoded libraries. Traditional high-throughput screening methods involving physical synthesis and testing of large small molecule libraries are resource-intensive and time-consuming. DNA encoded libraries address these limitations and enable rapid access to billions of compounds. This makes them an attractive proposition for pharmaceutical companies aiming to accelerate their drug pipelines.
The ongoing geopolitical tensions and uncertainties are impacting the growth of the global DNA encoded library market. Several countries are facing economic slowdowns and budget constraints due to rising inflation, political instability, and external conflicts. This has led to cuts in research funding and spending on new drug discovery projects by pharmaceutical companies. Moreover, international collaborations and partnerships in DNA encoded library based drug discovery are becoming difficult.
To sustain long-term growth, market players must explore alternative funding options and look for opportunities in developing regions with growing R&D expenditure. Partnerships with local research institutes and startups can help gain access to infrastructure and talent at lower costs. Adopting advanced cloud-based platforms and automated workflow solutions can improve efficiency of library screening processes and reduce dependency on physical infrastructure. North America currently dominates the market and is expected to maintain its leading position during the forecast period. This is attributed to presence of key market players, large pharmaceutical companies, and availability of sophisticated research infrastructure in the US and Canada. However, Asia Pacific is poised to emerge as the fastest growing regional market. Rising focus on developing generic drugs, biosimilars, and novel therapies is driving investments towards modern drug discovery methods in China, India, South Korea, and other ASEAN countries.
Europe has long been a major hub for medical research due to strong academic institutes and government funding. However, the region's market growth may be impacted due to economic challenges caused by the Russia-Ukraine conflict and rising energy costs. Developing economies in Latin America, Middle East, and Africa are also anticipated to offer new opportunities during the forecast period subject to availability of requisite skills and resources.
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Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163 )
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
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Q.4 Which of the top Global DNA Encoded Library Market companies compare in terms of sales, revenue, and prices?
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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it