Drug Discovery Informatics Market Scope
The Global Drug Discovery Informatics Market stood at USD 1,680.6 million in 2017. It is expected to enjoy a high valuation at a 11.5% CAGR from 2018 to 2023 (forecast period). Factors driving market growth include impending need to curtail drug discovery and development costs, focus on drug discovery, increasing expenditure on R&D, and large prevalence of chronic diseases. According to the WHO report of 2001, chronic diseases accounted for 60% of the deaths that year. Nearly 46.4% of the deaths in 2020 will be credited to chronic diseases triggering the market demand. But setup of laboratories and high costs of informatics software can restrict the market growth.
Drug discovery plays a vital role in the life sciences, pharmaceutical, and biopharmaceutical industries. The amount of data accumulated from clinical trials and tests is vast and requires software to sift through. New approaches in drug discovery informatics for accumulating and processing information can lead to faster commoditization of drugs, medicines, and vaccines. The global drug discovery informatics market report by Market Research Future (MRFR) contains a comprehensive overview followed by pertinent factors and drawbacks for the period between 2018 and 2023.
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Drug Discovery Informatics Market Segmentation
The global drug discovery informatics market is segmented by product, mode, service, and end-user.
By product, drug discovery informatics market is segmented into discovery informatics and development informatics.
By mode, drug discovery informatics market is is divided into in-house informatics and outsourced informatics.
By service, drug discovery informatics market is is segmented into clinical trial data management, sequencing and target data analysis, molecular modeling, docking, and others. The sequencing and target data analysis segment is touted to dominate the market during the forecast period due to increasing applications in targeted analysis. Inclination towards personalized medicine is bound to drive the segment demand and contribute to the global drug discovery informatics market growth.
By end-user, drug discovery informatics market is is segmented into contract research organizations, pharmaceutical & biotechnology industries, and others.
Drug Discovery Informatics Market Regional Analysis
Europe, Asia Pacific (APAC), the Americas, and the Middle East & Africa (MEA) are regions covered in the global drug discovery informatics market report.
The Americas dominated the global market in 2017 due to presence of prominent names such as International Business Machines, PerkinElmer Inc., and ThermoFisher Scientific Inc. Establishment of next-generation sequencing and chemical laboratories in the U.S. and Canada, boom in pharmaceutical and biopharmaceutical industries, and sophisticated healthcare infrastructure.
Europe is the second largest region and highly lucrative for the global drug discovery informatics market till 2023. This can be credited to funding allocated to research and development on drug research by governments, growth in therapeutic discovery centers, and successful activities by research and academic institutes, universities, and other prestigious centers.
APAC can be ensured to display a profitable growth rate during the forecast period due to the large geriatric population and heavy prevalence of chronic diseases. Awareness of the software, adoption of the software in pharma and biopharma companies, and a rise in clinical studies can drive the regional market growth. Lower costs, lax policies and regulations, and a spurt in clinical trials are other factors making the region lucrative for the global drug discovery informatics market.
Drug Discovery Informatics Market Competitive Outlook
Certara, L.P., Charles River Laboratories, Inc., Jubilant Life Sciences Ltd., Novo Informatics Pvt. Ltd., Dassault Systèmes, IO Informatics, Inc., Thermo Fisher Scientific, Inc., Infosys Limited, Selvita, International Business Machines Corporation, PerkinElmer, Inc., Collaborative Drug Discovery Inc., and GVK Biosciences Private Limited are prominent players of the global drug discovery informatics market.
Drug Discovery Informatics Industry News
Schrödinger, a U.S. based drug discovery company, recently received nearly USD 232 million in funding in January 2020. The platform developed by the company can assess the chemical composition of molecules and predict the properties during mixing and expedite the process rapidly saving production costs in the process.
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