Rising research investment in pharmaceutical informatics and diverse data tools drive drug discovery informatics market, fostering innovation in drug discovery.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, November 29, 2023 /EINPresswire.com/ -- According to the study, the global drug discovery informatics market is projected to be valued at US$ 12.5 Billion by 2033, and it is also expected to expand at a CAGR of 14.4% over the assessment period of 2023 to 2033.

The demand for drug discovery informatics is expected to witness steady growth backed by the surge in demand for discovery informatics which constitutes the largest market of drug discovery informatics.

The global drug discovery informatics industry is growing rapidly in emerging countries due to the emergence of cloud-based technology and new analytics. Faster and better scientific research results from the use of new computer and infrastructural technology. Another significant factor projected to boost market growth is pharmaceutical firms' increasing migration from traditional to data-driven technologies.

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North America holds the largest market share attributed to technological advancement and considerable R&D operations in next-generation sequencing and chemical labs, which are carried out by industry leaders. Other factors that contribute to the market growth include increasing GDP spending on healthcare and a large patient population owing to greater incidence rates of various infectious illnesses and oncology disorders.

The market in the Asia Pacific is developing at the fastest pace, owing to an increase in the number of clinical studies undertaken in the region as well as advances in research tools.

The global drug discovery informatics market is witnessing the highest forecasted CAGR mainly because of the growing focus on precision medicine, as well as technological advancements that have resulted in enhanced data storage, management, processing, and analysis.

Increased research spending on informatics by the pharmaceutical and biotechnology industries, rising demand and support for rare disease and orphan drug research, and increased focus on drug discovery using informatics software are some of the most important key factors driving the growth of the global drug discovery informatics industry.

During the forecast period, the growing prevalence of chronic diseases is expected to drive growth in the global drug discovery informatics market. The government across key countries has been undertaking initiatives to improve financial stimulus in order to induce modernization in the pharmaceutical industry, which will drive the market for drug discovery informatics. Increased R&D investment by pharmaceutical and biopharmaceutical companies will be a key driver for the drug discovery informatics industry. Drug discovery with reduced time and cost through the use of in silico modeling tools will be critical in driving market growth.

“Increased research spending on informatics by pharmaceutical and biotech industries, coupled with a diverse toolkit for data management, is propelling global drug discovery informatics market growth. This expansion is driven by robust investment and advanced tools facilitating efficient data gathering, processing, and visualization in the pursuit of innovative drug discovery solutions.” - opines Sabyasachi Ghosh, Associate Vice President at Future Market Insights.

Key Players Operating in the Global Drug Discovery Informatics Industry:

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.

Some of the recent developments of key Drug Discovery Informatics providers are as follows:

In April 2022, Iktos, a provider of Artificial Intelligence for new drug design announced their collaboration with Teijin Pharma Limited to evolve Artificial Intelligence for small molecules drug discovery.

In January 2022, Shanghai Fosun Pharmaceutical collaborated with Insilico Medicine for the discovery and development of drugs utilizing AI technology.

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Drug Discovery Informatics Market Segmentation Analysis:

By Technique:

Discovery Informatics
Identification, Validation, & Assay Development Informatics
Lead Generation
Enzymes
Other Cleanings
Development Informatics
Lead Optimization
FHD Preparation
Phase IA
Phase IB/2

By Mode:

Outsourced
In-house

By Services:

Sequence Analysis Platforms
Molecular Modelling
Docking
Clinical Trial Data Management
Other Services

By Region:

North America
Latin America
Europe
APAC
Middle East and Africa (MEA)

Author:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Ankush Nikam
Future Market Insights, Inc.
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