The small molecule drug discovery market was valued at US$ 24,976.14 million in 2019 and is projected to reach US$ 50,823.06 million by 2027; it is expected to grow at a CAGR of 9.5% from 2020 to 2027.

There is increase in demand for small molecules in treatment of various chronic as well as rare diseases for which not much treatment options are available. Moreover, the increasing investments and R&D expenditures by the pharmaceutical players towards development of new targets and lead candidates for small molecules are also expected to foster the market growth. However, high cost involved in the drug discovery process expected to restrain the growth of the market during the forecast period.

Small molecules drugs are used in targeted drug delivery in which small molecules pass through the cell membrane and acts on the specific cellular organelle or protein. The small molecules drugs are able to enter cells easily because of its low molecular weight. These molecules are better than monoclonal antibodies and other large molecule drugs due to their small size, easy convertibility to oral form, and cost-effectiveness.

The global small molecule drug discovery market is segmented into therapeutic area and process/phase. Based on therapeutic area, the small molecule drug discovery market is further segmented into oncology, central nervous system, cardiovascular, respiratory, orthopedics, immunology, rare diseases, and other therapeutic areas. The oncology segment held a largest share of the market in 2019; however, the rare diseases segment is anticipated to register a higher CAGR in the market during the forecast period. Based on process/phase, the market is subsegmented into target discovery, target validation, lead generation and refinement, and preclinical development. The lead generation and refinement segment held the largest share of the market in 2019; whereas, target discovery is estimated to register the highest CAGR during the forecast period.

The Centre for the Study of Drug Development, Department of Science and Innovation, and Centers for Disease Control and Prevention are some of the essential primary and secondary sources included in the report.