The global drug discovery informatics market is projected to reach USD 3.5 billion in 2025 from USD 2.2 billion in 2020, at a CAGR of 9.3%
NEW YORK, April 17, 2020 /PRNewswire/ -- The rising R&D expenditure, growing support for research, stringent regulatory guidelines especially in the area of rare diseases, and the rising use of informatics in drug discovery are expected to drive the overall growth of the drug discovery informatics market.
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The global drug discovery informatics market is projected to reach USD 3.5 billion in 2025 from USD 2.2 billion in 2020, at a CAGR of 9.3% during the forecast period. Market growth is largely driven by factors such as the rising R&D expenditure, growing support for research, especially in the area of rare diseases, and the rising use of informatics in drug discovery. However, the scarcity of skilled professionals and the high setup cost of informatics software is expected to limit market growth to a certain extent.
The sequence and target data analysis segment commanded the largest share of the market in 2019.
On the basis of function the market is broadly segmented into sequencing and target data analysis, docking, molecular modeling, library & database preparation, and other functions.The sequencing and target data analysis segment accounted for the largest share of the drug discovery informatics market for the function segment of the market in 2019.
The large share of this segment can be attributed to increased application for sequencing analysis for the new drug entity and ease of handling of information from different sources and different domains.
The software market dominated the market, by solution segment, in 2019
Based on solution the drug discovery informatics market is segmented into software and services.The large share of this segment is primarily attributed to the rising demand for new chemical entities due to the rise in new disease prevalence.
Software helps eliminate the chance of drug failure, on a broad scope, and fulfills a wide range of other functionalities. This has ensured the demand for drug discovery informatics software among end-users.
The pharmaceutical companies segment commanded the largest share of the drug discovery informatics market in 2019.
By the end-user, the drug discovery informatics market is segmented into pharmaceutical companies, biotechnology companies, contract research organizations (CROs) and other end users.The pharmaceutical companies segment accounted for the largest share of the market.
The pharmaceutical companies segment accounted for the largest share of the drug discovery informatics market in 2019, pharmaceutical companies are using this informatics software extensively for pre-clinical research & development, target identification, compound screening and lead identification, and streamlining their drug discovery process which is the major factor for driving the growth of this segment.
The Asia Pacific region to register the highest growth in the global drug discovery informatics market during the forecast period.
The Asia Pacific is estimated to grow at the highest CAGR during the forecast period. Factors such as the rapid growth in the pharmaceutical and biopharmaceutical industry, rising number of CROs, and the presence of less-stringent regulations for drug discovery processes
In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, other directors, and executives from various key organizations operating in the MIS instruments market.
• By Respondent Type: Supply Side (80%) and Demand Side (20%)
• By Designation: Managers (55%), CXOs (20%), and Executives (25%)
• By Region: North America (50%), Europe (20%), APAC (20%), and RoW (10%)
The major companies in the drug discovery informatics market include Jubilant Life Sciences Limited (India), Charles River Laboratories (US), IBM (US), Clarivate Analytics (US), and Accenture (Ireland).
The study includes an in-depth competitive analysis of these key players in the drug discovery informatics market, along with their company profiles, recent developments, and key market strategies.
Research Coverage:
The market study covers the drug discovery informatics market across various segments.It aims at estimating the market size and the growth potential of this market across different segments based on product, type of surgery, end user, and region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants in this market and provide information on the closest approximations of the revenue numbers for the overall drug discovery informatics market and its subsegments.This report will help stakeholders to understand the competitive landscape, to gain more insights so as to better position their businesses, and to plan suitable go-to-market strategies.
The report will also help stakeholders to understand the pulse of the market and provide information on the key market drivers, restraints, opportunities, and challenges.
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