NEW YORK, June 5, 2024 /PRNewswire/ — The global drug discovery informatics market size is estimated to grow by USD 7.28 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 18.17% during the forecast period.
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Technavio has announced its latest market research report titled Global drug discovery informatics market 2024-2028
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Forecast period |
2024-2028 |
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Base Year |
2023 |
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Historic Data |
2018 – 2022 |
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Segment Covered |
Application (Discovery informatics and Development informatics), Solution (Software and Services), and Geography (North America, Europe, Asia, and Rest of World (ROW)) |
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Region Covered |
North America, Europe, Asia, and Rest of World (ROW) |
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Key companies profiled |
Aragen Life Sciences Pvt. Ltd., Certara Inc., Charles River Laboratories International Inc., ChemAxon Ltd., ChemBridge Corp., Collaborative Drug Discovery Inc., Cresset BioMolecular Discovery Ltd., Curia Global Inc., Dassault Systemes SE, Eurofins Scientific SE, Evotec SE, Infosys Ltd., Insilico Medicine, International Business Machines Corp., Jubilant Pharmova Ltd., Melissa Inc., OpenEye Scientific Software Inc., PerkinElmer Inc., Schrodinger Inc., Selvita SA, and Thermo Fisher Scientific Inc. |
Key Market Trends Fueling Growth
Pharmaceutical companies and research institutes conduct clinical trials to assess the safety and efficacy of new drug molecules for chronic conditions and infectious diseases. Data from these trials is crucial for regulatory approval. However, data collection can be complex and costly.
Drug discovery informatics solutions integrate, standardize, and aggregate data from various sources, enabling early decision-making and optimizing clinical trial performance. Infosys Ltd.’s clinical trial supply management solution is an example. These advancements are driving the growth of the global drug discovery informatics market.
The Drug Discovery Informatics market is experiencing significant growth due to the increasing demand for advanced technologies in drug research and development. Key trends in this market include the use of artificial intelligence and machine learning algorithms for data analysis, drug discovery and design, and the integration of big data and genomics in drug development.
Additionally, the market is witnessing the adoption of cloud-based solutions for data storage and sharing, and the use of blockchain technology for secure data transfer and management. The market is expected to continue growing as research and development in the pharmaceutical industry becomes more data-driven and technology-intensive.
Market Challenges
Drug discovery informatics is a crucial component in the pharmaceutical industry, facilitating the integration and analysis of large data sets in drug discovery and development. This market includes computer-aided drug design (CADD) systems, laboratory information management systems (LIMS), and high-throughput screening (HTS) software.
While these tools accelerate the drug development process, their costs are significant. Factors influencing costs include software expenses, personnel costs, and instrumentation costs. The average cost of LIMS ranges from USD20,000 to USD25,000, and HTS is a major expense. High drug development costs limit the adoption of drug discovery informatics in smaller laboratories, potentially hindering market growth.
The Drug Discovery Informatics market faces several challenges in effectively utilizing data to drive innovation. One major challenge is the large volume of data generated from various sources, making it difficult to manage and analyze. Another challenge is the complexity of data integration from different sources, requiring advanced technologies and expertise.
Additionally, ensuring data security and privacy is crucial in this market. Furthermore, keeping up with the latest technologies and trends is essential to remain competitive. Lastly, the need for accurate and reliable data to make informed decisions adds to the complexity of the drug discovery process.
Research report provides comprehensive data on impact of trend, driver and challenges – Download a Sample Report
Segment Overview
Application
1.1 Discovery informatics
1.2 Development informatics
Solution
2.1 Software
2.2 Services
Geography
3.1 North America
3.2 Europe
3.3 Asia
3.4 Rest of World (ROW)
1.1 Discovery informatics- The drug discovery informatics market plays a crucial role in the drug development process by facilitating the efficient handling of large data sets. Vendors like IBM, Schrodinger, Certara, PerkinElmer, Collaborative Drug Discovery, and Evote provide solutions for identification, validation, and lead generation using technologies such as high throughput screening and molecular modeling.
Eurofins Scientific, offering pharmacology assays and panels, has expanded its service solution offerings through acquisitions, strengthening its position in the market. The adoption of these solutions by the pharmaceutical industry is increasing due to their ease of use, affordability, and multi-domain capabilities. The use of advanced technologies in drug discovery is driving the growth of the discovery informatics segment.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report
Research Analysis
The Drug Discovery Informatics Market is experiencing significant growth due to the integration of precision medicine and technological advancements in medical care. This market encompasses various applications, including patient groups, genetic and molecular profiling, and data storage and collection. Gene sequencing and nucleic acid analysis play a crucial role in this industry, leading to the discovery of novel medications and the development of informatics software for data gathering, analysis, and visualization.
Biotechnology industry’s focus on rare diseases and orphan drug research further propels the market’s expansion. Molecular modeling and clinical trial design are essential components of drug discovery informatics, utilizing sequence analysis platforms and bioinformatic solutions to optimize the development of drug molecules and proteins.
Market Research Overview
The Drug Discovery Informatics Market encompasses innovative solutions and technologies that facilitate the efficient and effective discovery of new drugs. These solutions leverage advanced data analytics, machine learning, and artificial intelligence to manage and analyze vast amounts of complex data generated during the drug discovery process. The market caters to various stakeholders, including pharmaceutical and biotech companies, academic institutions, and research organizations.
Key areas of focus include target identification, lead optimization, and clinical trial management. The market is expected to grow significantly due to the increasing demand for new drugs to address unmet medical needs and the rising adoption of data-driven approaches in drug discovery. Additionally, the integration of cloud technologies and the availability of large public databases are driving the market’s growth.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Application
Discovery Informatics
Development Informatics
Solution
Software
Services
Geography
North America
Europe
Asia
Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
