Drug Discovery and Innovative Drug Discovery
Drug discovery is the process through which potential new medicines are recognized and comprises an extensive range of scientific disciplines, including biology, chemistry and pharmacology. The integration of pharmacodynamics and pharmacokinetic parameters in non-clinical pharmacology studies is a key characteristic in drug discovery for efficacy and safety assessment, in the particular for the translation from the non-clinical to clinical field and process of drug discovery include the identification of candidates, synthesis, characterization, screening, and assays for therapeutic efficacy where as modern drug discovery involves the identification of screening hits, medicinal chemistry and optimization of those hits to increase the affinity, selectivity, efficacy/potency, metabolic stability, and oral bioavailability. The "final product" of drug discovery is a patent on the potential drug.
The global market for drug discovery technologies and products reached $38.4 billion in 2011. It is expected to expand to $41.4 billion in 2012 and to $79.0 billion in 2017, CAGR of 13.8% between 2012 - 2017.