Drug Discovery Informatics Market Highlights
The global drug discovery informatics market Size was projected at USD 3.1 Billion in 2022. The Drug Discovery Informatics market industry is projected to grow from USD 3.43 Billion in 2023 to USD 7.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.8% during the projected timeframe (2023 – 2032).
Drug discovery and development is an extremely complex process requiring the generation of very large amounts of information data and. As the pharmaceutical and biotechnology industry is on the rise, information technology is supporting the drug discovery process to improve research productivity and success rates. Patent expiry of blockbuster drugs, an over-reliance on high throughput discovery strategies, and ongoing industry consolidation through mergers and acquisitions (M&A) are fuelling the demand for drug discovery informatics. Few of the market growth factors include a worldwide rising focus on drug discovery, growing need to control drug discovery and development costs, rising research and development (R&D) expenditure, and increasing burden of chronic diseases. For instance, according to the Association of the British Pharmaceutical Industry (ABPI), the global pharmaceutical industry invested more than USD 1.36 trillion in R&D from 2007 to 2016, and it is projected to an annual investment of USD 181 billion by 2022. In contrast, high pricing and setup cost of informatics software is anticipated to limit the market growth during the forecast period.
The Drug Discovery Informatics Market has experienced substantial growth in recent years, propelled by the pharmaceutical and biotechnology industries’ increasing reliance on advanced informatics solutions. These technologies facilitate the efficient analysis of complex biological data, streamlining the drug discovery process. Key factors driving market growth include the rising demand for personalized medicine, the need to accelerate drug development, and the growing volumes of genomic and proteomic data. Additionally, the integration of artificial intelligence and machine learning algorithms has revolutionized data analysis, predictive modeling, and target identification. Despite these advancements, data security concerns and high implementation costs remain challenges within this dynamic and competitive market.
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.
Based on 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.
Regional Analysis
The global drug discovery informatics market has been segmented by region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. Based on 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 Centre 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 centres. The federal government acts as a regulator and 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 share of the global drug discovery informatics market. 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.
Key Players
The global drug discovery informatics market players 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.
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