The global drug discovery informatics market is projected to reach USD 3.7 billion in 2027 from USD 2.2 billion in 2020, at a CAGR of 9.3 % during the forecast period. Introduction of in silico tools, which enable computation with varied workflows that are in sync with rate of modern medicinal chemistry, is one of the key trends stimulating market growth. 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.
Identification of lead molecules requires synthesis and analysis of many derivatives that can be prepared with the help of in silico modelling tools. Success of a drug discovery experiment depends extensively on effectiveness of tools employed to assess varied aspects of drugs. In silico tools used herein include modelling tools for determination of 3D structures of ligand and protein-ADMET assessment-affinity estimation in docking and drug-ligand interaction for pharmacological profiling.
Major market participants are involved in adoption of in silico modelling tools, which is expected to work in favor of the market. In silico tools are promising tools that provide valuable structural screening and information validation at a fraction of the cost of traditional methods, shortening the discovery process to a great extent.
Migration from expensive and large mainframe computers as well as shared clusters to personal supercomputers, powerful desktops, small workgroup clusters, or laptops is extending the full potential of next-generation discovery information processing provided to a broader range of scientists. The onus is shifting to software developers, who need to create scientific software products that are easy to use, in order to most effectively exploit the power of inexpensive computing.
Advancements with respect to fundamental algorithms employed by computational information processing for predictive chemistry, which lead to improvement in scientific innovation and laboratory informatics, are likely to augment the market in the coming years. This group of “front-line” scientific applications, part of a category of software generally referred to as “laboratory informatics,” is a critical component in the redefinition of discovery information processing and is increasingly being used by laboratory chemists and biologists.
The major companies in the drug discovery informatics market include Charles River Laboratories International, Inc., Thermo Fisher Scientific, PerkinElmer Inc., Biogen Inc., BoehringerIngelheim GmbH, Insilico Medicine, Inc., International Business Machines Corporation, Schrödinger, LLC, Albany Molecular Research Inc. (AMRI), and Certara, L.P. These players are adopting the growth strategies that increase their product offerings, strengthen their geographical reach, increase customer base and garner market share. For instance, In September 2016, Charles River Laboratories International, Inc. acquired Agilux Laboratories, a contract based research organization which provides bio analytical services.
The drug discovery informatics market is divided into four major regions - North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2019, North America accounted for the largest share of the global drug discovery informatics market, closely followed by Europe. The large share of North America in the global market can be attributed to the presence of well-established CROs, rising R&D expenditure by pharmaceutical and biopharmaceutical companies
The Asia Pacific is estimated to grow at the highest CAGR during the forecast period. Factors such as the rapid growth in the pharmaceutical and biopharmaceutical industry, rising number of CROs, and the presence of less-stringent regulations for drug discovery processes
Report : Drug Discovery Informatics Market - By End user (Pharmaceutical companies, Biotechnology companies, Contract Research Organization and Other End users), By solution (Software and Services), By Application (Drug development and Drug Discovery), By Function (Sequence Analysis Platforms, Molecular Modelling, Docking, Clinical Trial Data Management and Others), By Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) and Industry Analysis, Opportunity and Forecast 2021 To 2027