The drug discovery informatics market is expected to grow

New York, USA, November 12, 2024 (GLOBE NEWSWIRE) – Market outlook:

The Drug discovery informatics market was valued at $3,212.06 million in 2023. The market valuation is expected to reach $8,132.56 million by 2032, registering a staggering CAGR of 10.9% during the forecast period 2024-2032.

What is drug discovery informatics?

Drug discovery is a complicated and lengthy process that involves the discovery and advancement of modern drugs to cure various diseases and improve human health. Traditionally, the procedure involves complex and expensive exploratory procedures. But as technology has rapidly advanced, drug discovery informatics has emerged as a dominant tool, changing the way scientists search for potential drug competitors. It combines computer and information sciences with chemistry and biology. It supports a wide range of computational tools, algorithms and databases for examining and translating vast amounts of biological and chemical data.

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Critical market figures:

• The drug discovery informatics market size was estimated at $3,212.06 million in 2023
• The market is expected to grow from $3,558.11 million in 2024 to $8,132.56 million in 2032
• The market is expected to exhibit a CAGR of 10.9% during the forecast period

Key findings from the report:

• The drug discovery informatics market is expected to grow significantly as many technology companies introduce innovative drug discovery solutions to meet the demand of the healthcare industry.
• The segmentation of drug discovery informatics market is mainly based on application, mode, services, end user and region.
• North America recorded the largest market share.

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Drug Research Informatics Market Drivers and Trends:

• Interpretation of genomic data: The Multiomics suite accelerated the analysis of genomic data translation, making it easier for companies to further develop tailored treatments. These AI-powered advances in the market are transforming the drug discovery process by making it more productive to manage the complexity of biomedical data.
• Extensive financing: Extensive funding from companies to accelerate the drug development process is driving market growth. For example, in July 2023, Nvidia committed a significant $50 million in funding to Recursion Pharmaceuticals to accelerate the advancement of artificial intelligence models specifically tailored to drug discovery. This funding improved the potential of drug discovery informatics and paved the way for innovative cures.
• Remarkable growth strategies: Companies attract, participate and collaborate with educational organizations, research companies and pharmaceutical companies to stimulate innovation in the market. These types of tactical ventures broadly accelerate research and development, reduce prices, and improve the positive outcomes of current drug developments, thereby increasing the demand in the drug discovery informatics market.
• Government Initiatives for Rare Diseases: Governments are developing ingenuity to regulate and improve drug development for rare diseases or conditions. These capabilities, which include increased funding, tax incentives, and efficient administrative procedures, motivate pharmaceutical companies and research institutions to allocate resources to the discovery and advancement of cures.

The main players in the industry:

• Accenture
• Agilent Technologies, Inc.
• Boehringer Ingelheim International GmbH
• Certara
• Charles River Laboratories
• Chemaxon Ltd.
• Collaborative Drug Discovery Inc.
• Eurofins DiscoverX products
• Illumina, Inc.
• Infosys Limited

Geographical scope:

North America accounted for the largest share of this Computer science for drug discovery Market share. This is due to the existence of an established pharmaceutical industry. The region's pharmaceutical industry provides significant funding for research and development projects. For example, the U.S. pharmaceutical industry spent $83 billion on research and development in 2019, according to the Congressional Budget Office.

Additionally, the Asia Pacific region is expected to grow fastest at a robust CAGR during the forecast period due to match-making alliances that combine global expertise with skill-enhancing inventions in the local market.

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Market segmentation:

According to application outlook:

• Drug discovery
  • Identification, validation and assay development informatics
  • Lead generation
• Drug development
  • FHD preparation
  • Lead optimization
  • Phase IA
  • Phase IB/2

By mode outlook:

By Services Outlook:

• Data management for clinical trials
• docking
• Molecular Modeling
• Sequence analysis platforms
• Other

By end user Outlook:

• Biotechnology company
• Contract Research Organizations (CROs)
• pharmaceutical company
• Other

Outlook by region:

• North America (USA, Canada)
• Europe (France, Germany, Great Britain, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East and Africa (Saudi Arabia, United Arab Emirates, Israel, South Africa)

Browse PMR Drug Discovery Informatics Market Report Coverage from Various Publications:

The global Drug discovery informatics market The size is expected to reach $8,132.56 million by 2032, registering a compound annual growth rate (CAGR) of 10.9% during the forecast period (2024 – 2032).

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