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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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.
- Key participants include Accenture, Clarivate Analytics, Infosys Limited, Eurofins Scientific, IBM, Cognizant, Thermo Fisher Scientific, Jubilant Life Sciences, PerkinElmer, and Dassault Systemes.
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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)
- Sequencing & target data analysis
- Library & database preparation
- Molecular modeling
Solution Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
- Drug Development
- Preclinical Testing
- Clinical Trials
- Drug Discovery
End-use Outlook (Revenue, USD Billion; 2017-2027)
- Contract research organizations
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Asia Pacific
- Latin America
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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