Drug Discovery Statistics


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Drug Discovery Statistics 2023: Facts about Drug Discovery outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Drug Discovery, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

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Top Drug Discovery Statistics 2023

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Drug Discovery “Latest” Statistics

  • The estimated median capitalized research and development cost per product in a particular study, which included 63 of 355 new therapeutic drugs and biologic agents approved by the US Food and Drug Administration between 2009 and 2018, was $1.1 billion, including costs associated with unsuccessful trials.[1]
  • The pharmaceutical industry spent $83 billion on research and development in 2019.[2]
  • The number of new drugs approved for sale increased by 60% between 2010 and 2019, reaching a peak of 59 in 2018.[2]
  • It has been estimated that developing a new drug will cost anywhere from less than $1 billion to more than $2 billion, which includes expenditures on drugs that do not reach the market and capital costs.[2]
  • The global market was predicted to be worth approximately $188 billion in 2022 and nearly $300 billion in 2026.[3]
  • The market for drug discovery is anticipated to be worth 71 billion US dollars by 2025.[4]
  • The market for drug discovery was only worth 35.2 billion US dollars in 2016.[4]
  • The FDA granted approval to 355 brand-new drugs and biologics between 2009 and 2018.[1]
  • The median and mean research and development investments required to bring a new drug to the market were estimated to be $1142 million and $1559 million, respectively, based on data for 63 therapeutic agents developed by 47 companies between 2009 and 2018.[1]
  • Based on a sample of ten drugs, Prasad and Mailankody estimated in 2017 that the median cost of bringing a single cancer drug to market through research and development was $780 million (in 2018 US dollars), capitalized at a real cost of capital rate of 7% per year.[1]

Also Read

How Useful is Drug Discovery

One of the key benefits of drug discovery is the ability to develop targeted therapies that specifically address the underlying causes of a disease, rather than just treating its symptoms. This personalized approach to treatment has the potential to improve patient outcomes and reduce side effects, as medications can be tailored to each individual’s unique genetic makeup and disease profile.

In addition, drug discovery has the potential to significantly reduce healthcare costs by preventing the progression of disease and limiting the need for expensive and invasive interventions such as surgeries and hospitalizations. By identifying and treating diseases at an earlier stage, medications developed through drug discovery can help reduce the burden on healthcare systems and improve overall patient wellbeing.

Furthermore, drug discovery plays a critical role in advancing our understanding of disease mechanisms and biology. Through the identification of new drug targets and pathways, researchers are able to gain valuable insights into the underlying causes of disease and develop new approaches for diagnosis and treatment. This knowledge can then be used to inform future research and drug development efforts, leading to further advancements in healthcare and medicine.

However, despite its immense potential, drug discovery is a complex and resource-intensive process that requires significant investments of time, money, and expertise. The development of a new drug can take upwards of 10-15 years and cost billions of dollars, with no guarantee of success. Many promising drug candidates fail during clinical trials due to unforeseen side effects or lack of effectiveness, highlighting the challenges and uncertainties inherent in the drug discovery process.

Moreover, the pharmaceutical industry is often driven by profit margins and market demand, leading to the prioritization of certain diseases or conditions over others. This can result in a lack of research and development efforts for neglected diseases that primarily affect low-income populations, limiting access to much-needed medications for those who need them most.

Despite these challenges, the rewards of drug discovery outweigh the risks, and the potential for groundbreaking advances in healthcare remains high. With continued investment and support for research and innovation, drug discovery has the potential to revolutionize medicine and improve the well-being of individuals worldwide. From personalized therapies to targeted treatments, the promise of drug discovery is vast and holds the key to unlocking new possibilities in healthcare for generations to come.

Reference

  1. jamanetwork – https://jamanetwork.com/journals/jama/fullarticle/2762311
  2. cbo – https://www.cbo.gov/publication/57126
  3. ox – https://www.ox.ac.uk/research/research-impact/statistical-expertise-drug-discovery
  4. statista – https://www.statista.com/statistics/765535/drug-discovery-market-worldwide-by-segment-globally/

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