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Rising Government Initiatives And Increasing Funding For R&d Activities To Propel The Adoption Of Hi
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The drug discovery and development process requires huge funding because of high production cost. Due to the availability of innovative approaches such as high throughput screening, the process of drug development has become less costly and requires less duration. The FDA plays an important role in innovation in the public health by investing in biological and medical research.
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As the prevalence of various diseases is increasing in developed as well as developing countries, respective governments are taking various initiatives for the improvement in drug discovery and development process in pharmaceutical and academic & research institutes. For instance, academia and the smaller biotech firms simply could not participate in HTS efforts because of the high capital investment needed in setting up HTS laboratories. To bridge the gap in this disparity, academia is setting up HTS laboratories with funding from the appropriate government agencies and leading pharmaceutical players to address the unmet critical needs by creating a new paradigm for drug discovery that integrates the best of big pharma, biotech, and academia. For instance, in 2017, Cancer Research UK and Newcastle University extended the strategic drug discovery alliance with Astex Pharmaceuticals; the alliance brings together the research in the field of structural and cellular biology, and medicinal chemistry with the innovative fragment-based small molecule drug discovery. Also, in 2015, Vanderbilt University Medical Center and Ono Pharmaceutical Group have signed a drug discovery agreement; the initial goal of the collaboration was to develop in vivo proof of concept compounds for several early stage drug discovery programs. Similarly, in 2012, TB Drug Accelerator (TBDA) initiative formed partnership between eight pharmaceutical companies and seven research organizations with support from the Bill & Melinda Gates Foundation, which aided USD $20 million (approx. €16.5 million) from the Gates Foundation for the discovery of new TB drugs.
Furthermore, the U.S. government had started a startup America initiative to accelerate high growth entrepreneurship throughout the nation by investing in small biomedical companies, which helps to increase the innovation in therapeutics. Similarly, in the developing countries such as India, the government policy has been playing crucial role, by reducing approval time for new drug molecule to boost the foreign investment in the drug discovery industries.
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The basic research mainly funded by several federal agencies, which includes NIH, NSF, DOE SC, and USDA which propels the development of new therapeutics for good health and increases the rate of drug discovery and development in the pharmaceutical industry. National Institutes of Health (NIH) is the largest source of funding for basic and applied research in the world. It provides approximately 84% of NIH funds to universities, medical schools, and other research institutes. In the U.S., basic research is conducted at universities and colleges and is funded by the federal government. According to the National Science Board (NSB), in 2013, basic research accounted for around 18% ($80.2 billion) of the total U.S. R&D expenditure, applied research was about 20% ($90.6 billion), and development was about 63% ($285 billion), suggesting the strong involvement of federal agencies in research and development funding.
In FY 2017, the U.S. government provides more than 95% of R&D funding to seven different federal agencies for the research and development in science and engineering fields. According to the Congressional Research Service (CRS), Department of Defence (DOD) accounted for the largest funding of around 49.5%, followed by National Institutes of Health (NIH) (21.3%), Department of Energy (DOE) (8.6%), National Aeronautics and Space Administration (NASA) (8.4%), National Science Foundation (NSF) (4.3%), Department of Agriculture (USDA) (2.0%), and Department of Commerce (DOC) (1.5%).
Thus, the rising government initiatives and increasing R&D funding across the globe for basic biomedical research & drug discovery are increasing the adoption of high throughput screening, thereby driving the growth of high throughput screening market which is expected to grow at a CAGR of 8.0% from 2017 to 2022 to reach USD 21,911.2 million by 2022, according to the recent study published by Meticulous Research®.
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