Drug Discovery Informatics Market Set to Expand at 11.2% CAGR to Contract Research Organization, Molecular Docking, Pharmaceutical & Biotechnology Applications Driven by North America and Europe Regions to 2023

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The global drug discovery informatics market is projected to reach USD 2.84 Billion in 2022 from USD 1.50 Billion in 2016, at CAGR of 11.2% during forecast period. Growth in drug discovery informatics market is mainly driven by factors such as rising R&D expenditure across the globe, increasing focus on drug delivery, and the need to control drug discovery and development costs.

Global drug discovery informatics market size is expected to record considerable progress over the forecast timeframe because of the introduction of novel platforms and related data analysis services obtained from clinical trials. Key Target Audience are as follows Providers drug discovery informatics solution, Pharmaceutical companies, Academic institutes, Biotechnology companies, Research institutes, Government associations and Contract research organizations (CROs).

The drug discovery informatics market is divided into sequencing and target data analysis, docking, molecular modeling, libraries & database preparation, and other functions. In 2017, the sequencing and target data analysis segment is expected to account for the largest share of the drug discovery informatics market.

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Drug discovery informatics market in this report is segmented by function, solution, end user, and region. Study tracks and analyzes competitive developments such as product launches, collaborations, agreements, partnerships, and acquisitions, and profiles key players and core competencies in the drug discovery informatics market.

North America is expected to account for the largest share of the global drug discovery informatics market. Asia Pacific is expected to register the highest growth rate from 2017 to 2022. This can be attributed to the fastest-growing APAC pharmaceutical market in the world, the availability of many qualified researchers, and the low cost of human resources and manufacturing.

Key players in drug discovery informatics market are IBM (US), Infosys (India), Schrödinger (US), PerkinElmer (US), and Thermo Fisher Scientific (US). These players focus on inorganic strategies such as acquisitions, agreements, and collaborations as well as organic strategies such as product launches and expansions to sustain their growth in the global market.

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Major players in the market were identified through secondary research and their market presence was studied through primary and secondary research. Secondary research included the study of the annual and financial reports of top market players.

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Rising R&D expenditure across the globe, increasing focus on drug delivery, and the need to control drug discovery and development costs are the factors driving the growth of this market. The largest share of this segment is attributed to the fast and efficient management of data generated throughout the drug discovery process using discovery informatics software solutions.

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