Global drug discovery informatics market is expected to register a healthy CAGR over the forecast period. The market held a market value of USD 1,680.6 million in 2017 and is projected to grow at a CAGR of 11.5% during the forecast period. Drug discovery and development is a highly intricate process requiring the generation of very large amounts of data and information. Large amounts of data are generated using a variety of innovative technologies, and the limiting step is accessing, searching and integrating this data. The current approaches to collect information from various sources have been dealt with in some cases where the data types are very least well-defined or largely homogeneous. However, the world is on the verge of a new age of drug discovery informatics, the methods and approaches in which are dealing with gathering information from data and knowledge from information are undergoing a paradigm shift. Mining and integration of domain-specific information such as chemical and genomic data will continue to develop in the near future.
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Drug discovery is a functional process in pharmaceutical and biotechnology companies. It involves different steps and procedures that depend on in-silico tools for reducing the complexity of a process. Some of the factors driving the market growth are a rising worldwide focus on drug discovery, growing need to control drug discovery and development costs, growth in R&D expenditure, and increasing burden of chronic diseases. For instance, according to the World Health Organization (WHO), in 2001, chronic diseases contributed around 60% of the 56.5 million total reported deaths across the world and approximately 46% of the global burden of disease, which is projected that, by 2020, chronic diseases will account for almost three-quarters of all deaths worldwide. On the other hand, high pricing and setup cost of informatics software is anticipated to restrict the market growth during the forecast period.
Regional Analysis The global drug discovery informatics market has been segmented by region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. On the basis of region, the Americas is expected to hold higher market share over the forecast period pertaining to the presence of market value contributors, burgeoning pharmaceutical and biotechnology vertical, and rising prevalence of chronic diseases in the US and Canada. For instance, as per statistics published by the Center for Disease Control and Prevention (CDC), about 610,000 people die due to heart disease in the US every year (one in every four deaths). Europe would follow the Americas in terms of value in the drug discovery informatics market owing to a surge in the clinical discovery ventures coupled with various activities conducted by research institutes, universities, and centers. The federal government acts as a regulator and also insures some public employees in Germany. Around 16 states in this county maintain public hospitals. The German government also proposes many healthcare programs to make citizens aware of the fatal disease. Asia-Pacific would represent the fastest market growth during the forecast period owing to growing geriatric population coupled with rising prevalence of chronic diseases, increasing awareness and high adoption of drug discovery informatics, and surging number of clinical trials studies in the region. The Middle East & Africa has the least drug discovery informatics market share. In addition, the major market share of the region would be held by the Middle Eastern region due to developing healthcare system and medical infrastructure in the Arab countries. Segmentation The global drug discovery informatics market has been segmented into product, mode, service, end user, and region. By product, the market has been segmented into discovery informatics and development informatics. On the basis of mode, the market has been divided into in-house informatics and outsourced informatics. By service, the market has been classified into sequencing and target data analysis, docking, molecular modeling, clinical trial data management, and others. The sequencing and target data analysis segment is expected to dominate the market over the forecast period due to rising application of informatics solutions in targeted analysis and a large amount of data generated during the drug discovery process. Based on end user, the market has been categorized into pharmaceutical and biotechnology industries, contract research organizations (CROs), and others. Key Players Few of the foremost players in the global drug discovery informatics market are Thermo Fisher Scientific, Inc., PerkinElmer, Inc., Certara, L.P., Infosys Limited, Novo Informatics Pvt. Ltd., Collaborative Drug Discovery Inc., Selvita, Charles River Laboratories, Inc., International Business Machines Corporation, Jubilant Life Sciences Ltd., IO Informatics, Inc., GVK Biosciences Private Limited, and Dassault Systèmes. Browse More Details of the Report @ https://www.marketresearchfuture.com/reports/drug-discovery-informatics-market-7831
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