The global drug discovery informatics market is expected to reach a market size of USD 4.09 Billion by 2027 and register a high CAGR during the forecast period, according to latest analysis by Reports and Data.
Growth of the drug discovery informatics market is driven by rising need to analyze large volumes of data, increasing use of Information Technology in data mining and data analysis with regard to drug development, data visualization, progressions in software versions for data aggregation, and increased usage of cloud-based services.
Emergence of cloud-based technologies and innovative analytics are among other factors driving growth of the drug discovery informatics market. Cloud enables storage, processing, and analyzing large volume of dataset at low cost. Adoption of new computer and infrastructure technologies results in faster and better scientific research. Cloud has the potential to increase the speed of basic research projects.
The increasing shift from conventional to data-driven technologies by pharmaceutical companies is another key factor expected to propel growth of the drug discovery informatics market. However, high cost of drug discovery informatics can limit its adoption in various sectors.
The COVID-19 impact:
The COVID-19 pandemic has spurred growth of drug discovery informatics market. Biopharmaceutical companies are investing significantly in research for development of SARS-COV-2 vaccine. Researchers are identifying drugs for treatment of the disease by examining both new and existing drugs, which is driving growth of the drug discovery informatics market.
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Market Overview:
The pharmaceutical and healthcare sector is rapidly growing over the recent years and is expected to witness vast changes due to current coronavirus outbreak. Factors such as rapid developments in the healthcare and medical sector, improvements in the healthcare infrastructure and facilities, rising healthcare expenditure and increasing adoption of telemedicine and ambulatory care services are fueling market growth. In addition, increasing investments in research and development activities, increasing preference for personalized medicines and point of care diagnosis and home care settings.
Competitive Landscape:
The global Drug Discovery Informatics market is extremely competitive and consists of several market players operating at global and regional levels. Key players are focusing on adopting various strategies such as RD investments product launches, mergers and acquisitions, partnerships to gain robust footing in the market and expand their product portfolio.
Leading companies operating in the market and profiled in the report include:
Accenture, Clarivate Analytics, Infosys Limited, Eurofins Scientific, IBM, Cognizant, Thermo Fisher Scientific, Jubilant Life Sciences, PerkinElmer, and Dassault Systemes.
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Key questions addressed in the report:
- What market size is the global Drug Discovery Informatics market expected to reach over the forecast period?
- Which factors are expected to hamper global market growth between 2021 and 2028?
- Which key factors are expected to driver global Drug Discovery Informatics market throughout the forecast period?
- Which application segment is expected to register fastest revenue CAGR over the forecast period?
- Which region is expected to register fastest revenue CAGR over the forecast period?
- Which leading players are operating in the global Drug Discovery Informatics market?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
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Further key findings in the report
- Molecular modeling is an essential tool for drug design process and is used in computational biology, material science, and computational chemistry. Revenue growth of this segment is driven by rise in demand in research of chronic diseases such as cancer, arthritis, and HIV-AIDS.
- Pharmaceutical industries segment dominated other end-use segments in terms of revenue share in 2019. Companies are using drug discovery informatics software for target identification, pre-clinical research development, which is fueling growth of the drug discovery informatics market.
- Exploration of advanced software has emerged a key component in drug discovery for the expansion of bio-active drugs across various therapeutic areas. Proper usage of software resolves several challenges in drug discovery.
- North America accounted for the largest revenue share in the drug discovery informatics market in 2019. Robust presence of advanced research infrastructures in countries in the region and rising adoption of advanced technological devices is another factor supporting market growth.
For the purpose of this report, Reports and Data has segmented the global drug discovery informatics market on the basis of function, solution, application, end-use, and region:
Function Outlook (Revenue, USD Billion; 2017-2027)
- Docking
- Sequencing target data analysis
- Library database preparation
- Molecular modeling
- Other
Solution Outlook (Revenue, USD Billion; 2017-2027)
- Software
- Services
Application Outlook (Revenue, USD Billion; 2017-2027)
- Drug Development
- Preclinical Testing
- Clinical Trials
- Drug Discovery
End-use Outlook (Revenue, USD Billion; 2017-2027)
- Biotechnology
- Pharmaceutical
- Contract research organizations
Regional Outlook:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
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