Drug Discovery Informatics Market size was USD 1.6 billion in 2015 and is anticipated to reach around USD 6.5 billion by 2023. High usage of information technology in data analysis and data mining in terms of drug development, progressions in software versions for data aggregation, processing and analysis, data visualization; and increased use for cloud based services are key factors to drive the drug discovery informatics market.
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Rising chronic illness such as cardiovascular diseases (CVD), oncology, diabetes mellitus, and other infectious diseases is the major concern for healthcare providers and government organizations worldwide. The U.S. government has taken initiatives in association with President’s Council of Advisors on Science and Technology (PCAST) aimed at improving financial inducements to stimulate modernization in pharmaceutical industry development, which is an important factor for industry revenue. Collaborations between pharmaceutical companies and insilico vendors have resulted in efficient growth of the industry to develop global as well as local products. Shortage of information technology and critical aspects of data evaluation are forecast to hamper global demand in the coming years.
With the introduction of innovative analytics and cloud based technologies, it is possible to process, store and analyze large amount of datasets at lower cost. For instance, Infosys developed a cloud based application to expedite the supply management services for clinical trials, which is anticipated to improve the whole drug design procedure. The company has collaborated with pharmaceutical companies and clinical trial organizations. At present, these processes are managed by custom solutions or through CRM platforms such as Microsoft Dynamics.
On the basis of workflow, the industry is segmented into bioinformatics for novel drug discovery and designing process. Software services account for majority of the drug discovery informatics market share because of higher IT usage. Improvement in computation is the chief driver for the development of insilico ADMET screening products, which are subsequently used in lead recognition and validation stages for determining pharmacokinetic profile.
Global drug discovery informatics market size is expected to record considerable progress over the forecast timeframe because of the introduction of novel platforms and related data analysis services obtained from clinical trials. Sequence analysis platforms related services generated the largest revenue share and are estimated to dominate the industry over the forecast period due to their increasing acceptance and introduction of the advanced genetic sequencing of the genome which provides new opportunities in lead identification.
The facilities offered can be conducted in-house using licensed solutions or can be outsourced to other organizations. In-house informatics seize larger share due to the existence of information technology platforms within most companies. Nevertheless, outsourced informatics is expected to boost drug discovery informatics market growth over the forecast timeframe since the major industry players are involved in collaborations with IT providers so as to increase access to insilico databases and tools for novel drug discovery for therapeutics.
Perkin Elmer and Albany Molecular Research Inc. (AMRI) collaborated for facilitating translational research in drug design sector in 2015. This collaboration provide AMRI the ability to obtain, manage, assimilate and analyze large complex data from the different translational platforms for taking better decisions in therapeutic drug discovery.
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In Europe, demand for these services increased due to upsurge in the therapeutic discovery ventures and activities carried out by universities, research institutes, and other companies. Asia Pacific is forecast to be an attractive regional segment over the next few years. Factors responsible for this growth include drug nanotechnology sector and ongoing research in software.
Key participants involved are Infosys, Certara, Charles River Laboratories, Boehringer Ingelheim GmbH, Albany Molecular Research, ChemAxon, Selvita, GVK Biosciences, Novo Informatics, DiscoverX, and Jubilant Biosys. Companies are involved in geographical expansion by providing services in untapped regional industries and also collaborate with universities and academic research institutes. In 2016, Boehringer Ingelheim collaborated with Arena Pharmaceuticals for the distribution of novel medications for treatment of schizophrenia.
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