What is the global market size of Drug Discovery Informatics Market?

Global Drug Discovery Informatics Market size was valued at USD 2.66 Billion in 2021 and is poised to grow from USD 2.96 Billion in 2022 to USD 6.97 Billion by 2030, at a CAGR of 11.3 % during the forecast period (2023-2030).

Drug Discovery Informatics Market Size, Share, Growth Analysis, By Workflow(Discovery Informatics and Development Informatics), By Mode(Outsourced, and In-house), By Services(Sequence Analysis Platforms, Molecular Modeling, Docking, Clinical Trial Data Management), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35I2209 | Region: Global | Published Date: March, 2024
Pages: 219 | Tables: 89 | Figures: 76

Drug Discovery Informatics Market Dynamics

Drug Discovery Informatics Market Drivers

Increasing Demand for Novel Drugs

The growing prevalence of various diseases and the need for effective treatment options have led to an increased demand for novel drugs. Drug discovery informatics plays a crucial role in accelerating the drug discovery process by enabling efficient data analysis, predictive modeling, and virtual screening, thus driving market growth.

Drug Discovery Informatics Market Restraints

High Implementation Costs

Implementing drug discovery informatics systems and technologies can involve substantial upfront costs, including software licenses, hardware infrastructure, and skilled personnel. These high implementation costs can be a barrier for smaller companies or institutions with limited financial resources, restraining market growth.

Drug Discovery Informatics Market Report Snapshots

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Global Drug Discovery Informatics Market size was valued at USD 2.96 Billion in 2022 and is poised to grow from USD 3.29 Billion in 2023 to USD 7.76 Billion, at a CAGR of 11.30% during the forecast period (2024-2031).

The competitive landscape of the global drug discovery informatics market is characterized by the presence of several companies offering a range of software solutions, platforms, and services for various stages of the drug discovery process. These companies compete based on factors such as product features, performance, scalability, customer support, and pricing. For example, Charles River Laboratories International, Inc. partnered with Deciphex. The Patholytix Preclinical platform from Deciphex will aid in increasing pathologist productivity by getting data to clients more quickly. This aided in the expansion of the company's market portfolio. 'Accelrys (Biovia)', 'Schrödinger', 'Genedata', 'OpenEye Scientific Software', 'Certara', 'Dotmatics', 'Collaborative Drug Discovery (CDD)', 'Optibrium', 'Chemical Computing Group (CCG)', 'IBM Watson Health', 'PerkinElmer', 'BioSolveIT', 'Entelos', 'Dassault Systèmes Biovia', 'XtalPi Inc.', 'OpenText', 'Benchling', 'MedChemica Ltd.', 'ChemAxon', 'BioSymetrics Inc.'

The growing prevalence of various diseases and the need for effective treatment options have led to an increased demand for novel drugs. Drug discovery informatics plays a crucial role in accelerating the drug discovery process by enabling efficient data analysis, predictive modeling, and virtual screening, thus driving market growth.

Increasing Adoption of Artificial Intelligence (AI) and Machine Learning (ML): AI and ML technologies are being increasingly integrated into drug discovery informatics to enhance efficiency and accuracy. These technologies enable advanced data analysis, predictive modeling, and virtual screening, leading to accelerated drug discovery processes and improved success rates.

North America held the greatest market share of 39.30% in 2022; growth in the region may be ascribed to a number of factors, including an elevated prevalence of infectious illnesses, rapid adoption of new and advanced R&D technologies, and the presence of major companies. Furthermore, businesses in the region are concentrating on joint ventures and research partnerships that are expected to fuel market expansion in the future years.

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Drug Discovery Informatics Market Dynamics

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