New York, Feb. 04, 2021 (GLOBE NEWSWIRE) -- 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 of 9.2%, during the forecast period, according to the latest report by Reports and Data.
Growing focus on drug discovery and increased investment in research and development for novel drugs is expected to continue to drive growth of the global drug discovery informatics market. Increasing prevalence of chronic diseases such as oncology, cardiovascular, and diabetes is creating rising need to improve healthcare facilities globally, and encourage modernization across the pharmaceutical industry.
Drug discovery informatics use sophisticated algorithms to process data related to diseases, drugs, proteins, gene expression, and sequence data to build customized approaches for drug discovery and help in developing effective drugs for chronic diseases. However, high cost of informatics software and dearth of skilled professionals is expected to restrain growth of the drug discovery informatics market to some extent.
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The development in insilico drug discovery procedures will also contribute to growth of the market. Insilico drug discovery is used to identify drugs with the help of computational algorithm. Use of Artificial Intelligence in drug development will propel growth of the market.
The COVID-19 impact:
The COVID-19 pandemic has supported growth of the drug discovery informatics market. Increasing adoption of procedures to detect covid-19 virus among patients and discovery of new therapies will support revenue growth of the market. Pharmaceutical companies are adopting advanced technologies for drug discovery, which is also impacting market growth positively.
Further key findings in the report
- Sequencing & target data analysis segment dominated the function segments in 2019. Revenue growth is driven by rising need to analyze new drugs and ease of handling information from various sources and domains.
- The pharmaceutical industry generates vast volumes of data during drug discovery. Companies deploy high screening facilities and have invested in automated technology to screen large compounds for drug discovery.
- The drug discovery software segment accounted for larger revenue share among the solution segments in 2019. The high share of the software segment is due to fast and efficient management of data generated through drug discovery informatics solutions.
- Asia Pacific market revenue is forecast to register a rapidly inclining CAGR due to the rapid expansion of the global pharmaceuticals industry and Contract Research Organizations (CROs). Presence of less-stringent regulations in the region will also support growth of the market.
List of Top Companies Profiled in the Drug Discovery Informatics Market Report:
- Accenture
- Clarivate Analytics
- Infosys Limited
- Eurofins Scientific
- IBM
- Cognizant
- Thermo Fisher Scientific
- Jubilant Life Sciences
- PerkinElmer
- 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)
- Docking
- Sequencing & target data analysis
- Library & database preparation
- Molecular modeling
- Other
- Solution Outlook (Revenue, USD Billion; 2017-2027)
- Software
- Services
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Drug Development
- Preclinical Testing
- Clinical Trials
- Drug Discovery
- Drug Development
- End-use Outlook (Revenue, USD Billion; 2017-2027)
- Biotechnology
- Pharmaceutical
- Contract research organizations
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- Latin America
- Brazil
- Rest of LATAM
- North America
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