The global Drug Discovery Informatics Market Size held a market value of USD 1,680.6 million in 2017 and is projected to grow at a CAGR of 11.5% over the 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
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, drug delivery system packaging factory 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 Segmentation:
The global drug discovery informatics market has been segmented into product, mode, service, end user, and region.
By product, the market has been segmented into discovery informatics and development informatics.
On the basis of mode, the market has been divided into in-house informatics and outsourced informatics.
By service, the market has been classified into sequencing and target data analysis, docking, molecular modeling, clinical trial data management, and others. The sequencing and target data analysis segment is expected to dominate the market over the forecast period due to rising application of informatics solutions in targeted analysis and a large amount of data generated during the drug discovery process.
Based on end user, the market has been categorized into pharmaceutical and biotechnology industries, contract research organizations (CROs), and others.
Drug Discovery Informatics Market Competitive Outlook
Few of the foremost players in the global drug discovery informatics market are Thermo Fisher Scientific, Inc., PerkinElmer, Inc., Certara, L.P., Infosys Limited, Novo Informatics Pvt. Ltd., Collaborative Drug Discovery Inc., Selvita, Charles River Laboratories, Inc., International Business Machines Corporation, Jubilant Life Sciences Ltd., IO Informatics, Inc., GVK Biosciences Private Limited, and Dassault Systèmes.
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