According to the latest report by IMARC Group, titled “Drug Discovery Informatics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global drug discovery informatics market reached a value of US$ 2.7 Billion in 2021. Drug discovery informatics (DDI) refer to sophisticated bioinformatic algorithmic solutions that evaluate large volumes of biomechanical data regarding gene expression, drug, and disease. They involve a set of software and hardware-based tools, which assist in protecting databases, discovering drugs for their formulation, docking, interpreting, visualizing, and preparing data. Apart from this, drug discovery informatics aid in generating insights related to the development of several drugs post their experimentation in clinical laboratories and customizing systems for different aspects of data. Consequently, they are extensively used in healthcare institutions, pharmaceuticals, biotechnology organizations, and contract research organizations (CROs) for making clinical decisions, managing trials, and performing pharmacovigilance tasks.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Drug Discovery Informatics Market Trends:
The drug discovery informatics market is majorly being driven by the increasing prevalence of various chronic disorders and the growing need for effective medication moieties at affordable prices to treat rare diseases. In line with this, the sudden outbreak of coronavirus disease (COVID-19) infection has prompted governments of several nations to invest in the pharmaceutical industry to perform drug discovery for manufacturing novel vaccines. This, in turn, supplemented the widespread adoption of drug discovery informatics for performing virtual screening of molecules, which is acting as another growth-inducing factor. Additionally, the introduction of in-silico modelling tools and physiologically based pharmacokinetic (PBK) simulator that assists in supporting pediatric dose selection for small molecule drugs and forecasting pharmacokinetic outcomes are contributing to the market growth. Moreover, the extensive deployment of drug discovery informatics in the healthcare sector for managing biological information from multiple sources and analyzing new drug entities is propelling the market growth. Other factors, such as strategic collaborations amongst key players and continuous investments in the research and development (R&D) activities for identifying diverse applications of drug discovery informatics and improving its efficacy, are creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 5.1 Billion by 2027, growing at a CAGR of 11.62% during 2022-2027.
- Based on the workflow, the market has been bifurcated into drug discovery and drug development.
- On the basis of the function, the market has been segregated into sequence analysis platforms, molecular modelling, molecular docking, clinical trial data management, and others.
- Based on the mode, the market has been bifurcated into outsourced and in-house.
- On the basis of the end user, the market has been segmented into pharmaceutical companies, biotechnology companies, contract research organization (CROs), and others.
- On a regional basis, the market has been categorized into North America (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 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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