NEW YORK, Oct. 6, 2016 /PRNewswire/ -- Global drug discovery informatics market is anticipated to reach USD 6,548.1 million by 2022, according to a new report by Grand View Research Inc.Ongoing improvement in computational technology is anticipated to drive the adoption of in-silicotherapeutic product discovery models thus, influencing sector progress over the forecast period.
Drug discovery informatics industry is estimated to witness lucrative growth over the forecast period majorly due to, the rising number of technologically advanced products in the field of drug development. Significant shift observed from traditional in-vitro drug development to computer aided drug designing, as costly failures of late drug development increases the use of in-silico models for early ADME/Toxicity screening is anticipated to propel progress in this sector.
Furthermore, R&D carried out in the field of information technology for the facilitation of analytics and visualization applications that enable data aggregation and processing is attributive for driving growth in this market through to 2022.
Further key findings from the report suggest:
Discovery informatics dominated accounting for the largest share of the market in 2014 owing to presence of substantial number of in-silico tools and databases in this segment, which aid the process of lead identification and validation.
Development informatics is anticipated to witness substantial progress in the coming years because of upcoming development in the sub segments that involve clinical trial data management services and softwares.
As per the mode of informatics solutions, outsourced informatics accounted for a large share in 2014 because of the high capital costs associated with in-house services for drug discovery IT solutions. Furthermore, with the rise in collaborations and lead compound discovery projects between IT market participants and pharmaceutical companies, outsourced services are expected to continue to register lucrative demand in the coming years.
Sequence analysis based informatics was the largest service segment in 2014 and is expected to maintain its dominance through to 2022. High R&D investment for genomic sequencing as this being the initial step for target as well as lead identification is expected to support in projected progress.Moreover, enhancement in NGS technology coupled with growing adoption rate due to reduction in cost of sequencing per base pair are prime factors responsible in driving demand for NGS sequence analysis technology solutions thus impacting segment growth positively.
North America accounted for the largest share of revenue generated in 2014. This large share can be accounted for by the presence of an enhanced technological framework, high R&D investment in information technology; growing adoption of computational novel entities discovery paradigms are the major factors attributive for region's dominant market position.
However, Asia Pacific is projected to register the fastest growth over the forecast period owing to technological developments carried out in the developing economies of this region in order to promote introduction of novel drug targets and chemical entities for reduction of chronic disease burden
Key players operating in this market include GVK Biosciences, Boehringer Ingelheim GmBh, Albany Molecular Research Inc, Certara, Infosys, DiscoverX, Selvita, Jubilant Biosys, Collaborative Drug Discovery Inc., Charles River Laboratories, ChemAxon, and Novo Informatics.
These entities are involved in collaborations with therapeutic product discovery and development laboratories, clinical research organizations, academic institutes, pharmaceutical companies, and clinical research institutes in order to gain access in the competitive industry.
Read the full report: http://www.reportlinker.com/p03863188-summary/view-report.html
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