Drug Discovery Informatics Market Growth 2024: Anticipated To Reach USD 7.9 Billion By 2032
How big is the drug discovery informatics market?
According to the report, the “drug discovery informatics market” was valued at $2.9 billion in 2022, and is estimated to reach $7.9 billion by 2032, growing at a CAGR of 10.5% from 2023 to 2032.
The Drug Discovery Informatics Market is expected to grow with a significant CAGR during the analysis period mainly due to rise in chronic diseases and the advent of new powerful tools such as AI and big data. However, challenges such as inflation, supply chain issues and expiring patents might restrain the market growth.
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Drug discovery informatics utilizes computational and informational method to expedite the discovery as well as advancement of novel pharmaceuticals. This method utilizes diverse computational techniques, algorithms, and databases to analyze biological data, forecast drug-target interactions, refine drug candidates, and enhance the efficiency of the drug development journey.
Drug Discovery Informatics Market Statistics:
- Drug discovery segment is expected to grow with a CAGR of 10.7% during the forecast period.
- The sequencing and target data analysis segment is expected to register a faster CAGR of 11.1% during the analysis period.
- The pharmaceutical companies is expected to grow with a higher CAGR of 10.8% during forecast period.
- Sequencing and target data analysis segment acquired major share in the global Drug Discovery Informatics Industry in 2022.
- North America to maintain its dominance by 2032
Recession Impact
- During a recession, governments, academic institutions, and private funding sources might decrease investment in research and development (R&D) projects, including drug discovery initiatives. This reduction in funding can limit the resources available for conducting research, acquiring new technologies, and hiring skilled personnel.
- Further, pharmaceutical companies may reassess their R&D priorities and allocate resources to drug discovery programs with potentially higher returns on investment or greater market demand. This shift in focus could lead to increased investment in certain therapeutic areas, such as infectious diseases or chronic conditions, while reducing investment in others.
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Factors affecting the growth of the Drug Discovery Informatics Market:- Increasing R&D Activities: The continuous demand for new drugs to treat various diseases drives pharmaceutical companies to invest heavily in research and development. Drug discovery informatics tools assist in streamlining these processes, leading to increased efficiency and productivity.
- Advancements in Technology: Technological advancements such as artificial intelligence (AI), machine learning (ML), big data analytics, and cloud computing have revolutionized drug discovery informatics. These technologies enable faster data analysis, predictive modeling, and virtual screening, thereby accelerating the drug discovery process.
- Growing Complexity of Drug Discovery: The drug discovery process has become increasingly complex due to the need for personalized medicine, target-based drug discovery, and the rise of rare diseases. Drug discovery informatics platforms offer solutions for managing and analyzing large volumes of data generated from omics technologies, high-throughput screening, and clinical trials.
- Pressure to Reduce Time and Costs: There is a growing pressure on pharmaceutical companies to reduce the time and costs associated with drug discovery and development. Drug discovery informatics tools help in identifying potential drug candidates more efficiently, optimizing lead compounds, and predicting their pharmacokinetic properties, thus reducing the time and cost of bringing new drugs to market.
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Regional Analysis:
North America dominated the market in 2022 and is expected to continue this trend during the forecast period. North America has a strong healthcare system and many Contract Research Organizations (CROs), which boost drug discovery efforts in the United States. On the other hand, the Asia-Pacific region is expected to grow faster during the forecast period. This growth is because more pharmaceutical and biotechnology companies are starting up in countries like China, India, and Thailand, among others in the Asia-Pacific region.
Market Segmentation:
By Application:
- Drug Discovery
- Drug Development
By Function:
- Sequencing and Target Data Analysis
- Library and Database Preparation
- Docking
- Molecular Modelling
- Others
End User:
- Biotechnology Companies
- Pharmaceutical Companies
- Contract Research Organizations
- Other
By Geography:
- North America (U.S., Canada, Mexico) Europe
- (Germany, France, UK, Italy, Spain, Rest of Europe)
- Asia-Pacific (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
- LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Leading Market Players:
- Certara
- Boehringer Ingelheim International GmbH
- Infosys Ltd.
- Charles River Laboratories
- Collaborative Drug Discovery, Inc.
- Eurofins DiscoverX Products
- Jubilant Biosys
- Selvita
- Novo Informatics Pvt. Ltd.
- ChemAxon Ltd.
- Albany Molecular Research Inc.
- Oracle
- Accenture
- Agilent Technologies, Inc.
- Illumina, Inc.
The report provides a detailed analysis of these key players in the global drug discovery informatics market. These players have adopted strategies such as partnership and collaboration to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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