Research report published by Proficient Market Research “Drug Discovery informatics Market (By Function: Target Identification & Validation, Lead Generation, Molecular Modeling, Libraries and Database Preparation, Others; By Solution: Software and Services; By Application: Drug Discovery and Drug Development; By End-use: Pharma & Biotech Research Organizations and Contract Research Organizations (CROs)) Market – Growth, Future Prospects, Post COVID-19 Scenario 2020 – 2028”, states that the global drug discovery informatics market is expected to grow at a CAGR of 9.5% during the forecast period from 2020 to 2028
With the growth of the pharmaceutical industry, the demand for new drug discovery has skyrocketed in the last few years. Staying ahead in the competition is the major challenge for pharmaceutical companies. This is one of the major factors attributing to the high demand for new drug discovery which in turn is escalating the need for drug discovery informatics. With the current COVID-19 pandemic conditions, pharmaceutical players are targeting advanced methods that reduce the research period required to develop a new drug.
Major functions of drug discovery informatics include target identification & validation, lead generation, molecular modeling, libraries and database preparation, among others.
Major Players Covered:
Major players operating in the global drug discovery informatics market include Certara, L.P., Infosys Limited, IBM Corporation, PerkinElmer, Inc., Schrodinger, Inc., Collaborative Drug Discovery, Inc., Jubilant Life Sciences Ltd., Thermo Fisher Scientific, Inc., Charles River Systems, Inc., Novo Informatics Pvt. Ltd. among others.
Based on the function, the global drug discovery informatics market is bifurcated into the following:
In 2019, target identification and validation was the largest segment by function in terms of market share. The segment held about 30% of the share in the global market. Demand for new drug discovery for chronic diseases is on rise, which in turn increasing the demand of new target identification & validation.
Find graph provides a comparative analysis of the value contribution for each of the segment for the years 2019 and 2028: https://proficientmarket.com/report/1429/drug-discovery-informatics-market
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Based on the solution the global drug discovery informatics market is bifurcated into the following
In 2019, the demand for drug discovery informatics software was observed to be high. The software sub segment clearly dominated the solution segment and grabbed around 65% share of the overall market. The services segment on other hand is anticipated to register rapid growth over the forecast period.
See graph provides a comparative analysis of the value contribution for each of the segment for the years 2019 and 2028: https://proficientmarket.com/report/1429/drug-discovery-informatics-market
In 2019, North America held the largest share in the drug discovery informatics market due presence of major pharma and biotech players, and rapid growth in drug discovery research. However, due to low research cost, growing demand of new drug discoveries, and presence of large number of CROs in developing countries such as China and India, Asia Pacific region is experiencing rapid surge in drug discovery contracts from across the world.
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