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The global drug discovery informatics market grew at a CAGR of around 10% during 2015-2020. Drug discovery informatics is a technological solution used for analyzing and interpreting large volumes of biochemical data. The data is generated from the experiments conducted in clinical laboratories for research purposes and utilized for generating insights regarding the development of various drugs. It involves numerous software and hardware-based tools for sequencing, target data analysis, data visualization, docking, molecular modeling, database protection for drug discovery and development. As a result, it is widely used by healthcare institutions, pharmaceutical and biotechnology organizations and contract research organizations (CROs).
Significant growth in the healthcare and pharmaceutical industries across the globe represents one of key the factors creating a positive outlook for the market. Furthermore, the increasing prevalence of chronic medical disorders and the escalating requirement for effective solutions to treat rare diseases are also augmenting the market growth. Drug discovery informatics is widely used by pharmaceutical organizations for the analysis of new drug entities and handling of the biological information from multiple sources. Additionally, various technological advancements, such as the development of innovative Physiologically-based Pharmacokinetic (PBPK) Simulator platforms, which aid in predicting pharmacokinetic outcomes through modeling and simulation, are acting as other growth-inducing factors. In line with this, increasing investments by government and private healthcare institutions to develop orphan drugs is also contributing to the market growth. Other factors, including the rising geriatric population, along with extensive research and development (R&D) activities in the field of bioinformatics, are anticipated to drive the market further. Looking forward, IMARC Group expects the global drug discovery informatics market to continue its strong growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global drug discovery informatics market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, workflow, function, mode and end user.
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The competitive landscape of the industry has also been examined along with the profiles of the key players being Accenture Plc, Certara, Charles River Laboratories Inc., Collaborative Drug Discovery Inc., Eurofins DiscoverX Products, Infosys Ltd., International Business Machines Corporation, Jubilant Biosys Limited, Oracle Corporation, PerkinElmer Inc., Selvita and Thermo Fisher Scientific Inc.
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