Drug Discovery Statistics 2023
– Everything You Need to Know

Last Updated on by | Reviewed by Editorial Staff

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.

How much of an impact will Drug Discovery Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

Please read the page carefully and don’t miss any words.

On this page, you’ll learn about the following:

Top Drug Discovery Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 10 Drug Discovery Statistics on this page 🙂

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

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/

About Author & Editorial Staff

Steve Goldstein, founder of LLCBuddy, is a specialist in corporate formations, dedicated to guiding entrepreneurs and small business owners through the LLC process. LLCBuddy provides a wealth of streamlined resources such as guides, articles, and FAQs, making LLC establishment seamless. The diligent editorial staff makes sure content is accurate, up-to-date information on topics like state-specific requirements, registered agents, and compliance. Steve's enthusiasm for entrepreneurship makes LLCBuddy an essential and trustworthy resource for launching and running an LLC.

Leave a Comment