NEW YORK, July 20, 2021 /PRNewswire/ -- The global drug discovery informatics market size is expected to reach USD 5.62 billion by 2028. According to a new study conducted by Polaris Market Research, the market is anticipated to register a CAGR of 11.4% from 2021 – 2028. Increasing volume of drug discovery data, growing preference for in-silico modeling tools advancements in high computing services, and rising demand for novel discovery data are some of the key factors driving the market growth. In addition to this, the rising use of drug discovery software for achieving marketing intelligence owing to its major advantages such as efficient tracking of disease evolution, rapid drug design, and data integrity management, fostering the market growth. Moreover, a huge surge in demand for the development of drugs to ensure effective treatment of COVID-19 disease is further complementing the development of the drug discovery informatics market.
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Key Highlights of Drug Discovery Informatics Market
Based on workflow, the discovery workflow segment is anticipated to register the fastest growth on account of the increasing demand for novel drugs and the rising focus of pharmaceutical companies for the development of novel drug candidates.
In terms of mode, the outsourced informatics segment accounted for the largest share of the drug discovery informatics market. The growth is attributed to a huge demand for such platforms and services among leading market participants across the globe.
By services, the segment of sequence analysis platforms is gaining higher momentum as such platforms are widely employed for the databases of nucleic acid and other biomolecule sequences.
The accelerated activities for the discovery of the Covid-19 drug across the globe are turning into a major booster for the market. Several companies are undergoing the development of ideal molecules for combating the COVID-19. This incorporates the use of drug discovery informatics for increasing the effectiveness of drug discovery.
The U.S. government in collaboration with the President's Council of Advisors on Science and Technology working on an initiative that aims to improve financial stimulus for bringing modernization in the pharmaceutical industry, which will drive the overall growth of the global drug discovery informatics market.
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North America dominated the market for drug discovery informatics, owing to increasing cases of infectious diseases, the rising need for advanced drug discovery tools to ensure quicker drug approval, and the presence of key market players in the region. In addition to this, regional players are adopting keys strategies such as acquisitions and mergers to boost their business, thereby propelling the regional market growth. In the Asia Pacific, the market is growing substantially on account of increasing therapeutic discovery ventures and ongoing research in software.
Leading companies present in the global market for drug discovery informatics are receiving higher investments which helping them expand their drug discovery projects. Moreover, pharmaceutical companies are involved in collaborations and partnerships allowing them to share technological platforms amongst them.
The key players working in the drug discovery informatics market are Certara, Infosys Ltd., Albany Molecular Research Inc., Charles River Laboratories, Boehringer Ingelheim, Collaborative Drug Discovery, Jubilant Biosys, Selvita, Novo Informatics, Eurofins DiscoverX Products, ChemAxon Ltd., Oracle, Accenture, Agilent Technologies, Inc., and Illumina, Inc.
Supply Side: Pharmaceutical Company
Demand Side: Drug Discovery Companies
Regulatory Side: World Health Organization
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Polaris Market Research has segmented the drug discovery informatics market report on the basis of workflow, mode, Services, and region:
Drug Discovery Informatics, Workflow Outlook (Revenue – USD Million, 2016 – 2028)
Drug Discovery Informatics, Mode Outlook (Revenue – USD Million, 2016 – 2028)
Drug Discovery Informatics, Services Outlook (Revenue – USD Million, 2016 – 2028)
Sequence Analysis Platforms
Clinical Trial Data Management
Drug Discovery Informatics, by Regional Outlook (Revenue – USD Million, 2016 – 2028)
Central & South America
Middle East & Africa
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