Global Chemoinformatics Market to Reach US$ 12.7 Billion by 2032, Fostered by Rising Preferences for Personalized Medicine

December 02, 2022 | Healthcare

IMARC Group’s latest report, titled “Chemoinformatics Market Report by Application (Chemical Analysis, Drug Discovery, Drug Validation, and Others), and Region 2024-2032,” finds that the global chemoinformatics market size reached US$ 6.3 Billion in 2023. Chemoinformatics refers to a field of information technology that relies on informational and computational techniques to provide a deeper understanding and solve chemistry problems. It involves the collection, storage, analysis, and manipulation of chemical data, including small molecule formulas, properties, structures, spectra, and biological and industrial activities. It helps represent three-dimensional (3D) molecular structures to enable the searching and comparing compounds with specific features while defining archival data protocols. As a result, chemoinformatics finds extensive applications in the pharmaceutical industry and the areas of biology, chemistry, and biochemistry.

Global Chemoinformatics Market Trends:

The increasing use of chemoinformatics in the drug discovery and development process to introduce novel biotechnological processes and products. Consequently, the rising preferences for personalized medicine and the widespread prevalence of chronic diseases represent the primary factors driving the market growth. Moreover, the recent coronavirus disease (COVID-19) outbreak has accelerated product adoption in anti-viral research and the discovery of therapeutics to curb the spread of the virus. Additionally, the growing need for efficient management of data generated during molecular and atomic reactions and validating potential drug candidates developed by combinatorial chemical methods has augmented the product demand. In line with this, extensive investments in research and development (R&D) projects have catalyzed market growth. Furthermore, the leading players are integrating advanced information storage and retrieval technologies in chemoinformatics to help researchers efficiently store data about physical properties, 3D molecular and crystal structures, chemical reaction pathways, and molecular functional groups and docking sites. Along with this, ongoing innovations and advancements in the drug development process are positively influencing market growth. Other factors, including the surging need for novel drugs, growing funding in biotechnology sectors to accelerate drug discovery, increasing use of in-silico techniques, and technological advancements, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 12.7 Billion by 2032, expanding at a CAGR of 7.9% during 2024-2032.

Market Summary:

Based on the application, the market has been classified into chemical analysis, drug discovery, drug validation, and others.
Region-wise, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has also been analyzed, with some of the key players being Agilent Technologies Inc., Bio-Rad Laboratories Inc., BioSolveIT GmbH, BIOVIA (Dassault Systèmes), ChemAxon, Inc., Eurofins CEREP SA (Eurofins Panlabs Inc.), Jubilant Biosys Inc., Molecular Discovery Ltd., OpenEye Scientific Software Inc., and Schrödinger Inc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Agilent Technologies Inc., Bio-Rad Laboratories Inc., BioSolveIT GmbH, BIOVIA (Dassault Systèmes), ChemAxon, Inc., Eurofins CEREP SA (Eurofins Panlabs Inc.), Jubilant Biosys Inc., Molecular Discovery Ltd., OpenEye Scientific Software Inc. and Schrödinger Inc.
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Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Chemoinformatics Market to Reach US$ 12.7 Billion by 2032, Fostered by Rising Preferences for Personalized Medicine

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