Global DNA Encoded Library Market Analysis

The Global DNA Encoded Library Market is estimated to be valued at USD 0.91 Billion in 2024 and is expected to reach USD 2.60 Billion by 2031, growing at a compound annual growth rate (CAGR) of 16.4% from 2024 to 2031. The DNA encoded library market has been witnessing significant growth over the past few years owing to rising investments in pharmaceutical R&D and increasing adoption of DNA encoded libraries by pharmaceutical companies to accelerate drug discovery process.

The DNA encoded library market is expected to witness rapid growth during the forecast period due to increasing investment in genomics and biotechnology sector. DNA encoded libraries have emerged as an innovative technology that has enabled rapid screening of large chemical spaces for potential hit identification. Many big pharmaceutical companies are investing heavily in development of proprietary DNA encoded libraries to screen vast chemical spaces and identify new small molecule hits that can become therapy or drug candidates. The advantages of DNA encoded libraries such as large scale compound testing, rapid hit identification and lower costs compared to traditional high throughput screening are driving their demand among pharmaceutical companies. Additionally, continuous technology advancements to develop more efficient DNA encoding techniques are further expected to boost the market during the forecast period.