Global Drug Discovery Software market valued at $2 billion in 2020, is anticipated to grow at a decent CAGR of 14% to range over $3.5 billion by 2025

The global drug discovery software market is driven by the growing R&D spend and pipeline, expanding market scope and scale, rising stringency of testing and regulations, an increasing number and size of biotechs, the demand for increasing cost efficiencies and reducing time to market and shift towards web/cloud-based software.

Global Drug Discovery Software Market - A Niche but a Rapidly-Growing Market

The global drug discovery software market is a niche markety and is growing rapidly, driven by the growing pressure on the pharmaceutical and biotech companies to reduce costs in the research and preclinical stage of drug discovery and development, reduce timelines and improve transparency through deep learning software tools and technologies.

"Leading market players present in this segment are trying to consolidate the drug discovery software market by becoming a one stop destination. Moreover, companies are also considering to combine their market solutions with bioinformatics and LIMS tools to have a competitive edge over their rivals."-Executive, Major Drug Discovery Software Provider, United States

Growing Focus on Developing AI and ML platforms for Drug Discovery Software

The life sciences market is recognizing the advantages and flexible solutions offered by Big Data, AI and ML in drug discovery. Several AI/ML developments could be seen recently which are expected to disrupt the present drug discovery scenario.

For instance, in March 2021, Insitro, a ML-driven drug discovery and development company raised $400 million. In 2020, Optibrium launched Cerella, an AI software platform for drug discovery.

Growing Demand for Reliable Software Solutions Specifically Designed for Biologics Segment

Biologics is expected to experience a strong growth in the drug discovery phase in the upcoming years. 50% of drugs currently in the preclinical phase are biologics. To leverage ample growth opportunities, all leading companies are entering and expanding their businesses into biologics software field.

Ongoing Transition to Web/Cloud-based Software

The global drug discovery software industry is slowly shifting towards web or cloud-based solutions as it can address most of the issues or bugs with on-premise installations and provide quick software deployment, minimum production costs, high flexibility and scalability thus making it affordable for even small and medium size pharmaceutical, biotechs, academic research, universities and CROs.

Competitive Landscape Analysis: Drug Discovery Software Market

The global drug discovery software market is highly competitive and fragmented. Some of the established market players operating in the global market are Dassault Systèmes, LabVantage, PerkinElmer, Schrodinger, Abbott, Healx, Optibrium, Instem, Chemical Computing Group, dotmatics, idbs, Titian, Biovia, Celsius, Genome Biologics, Atomwise, Standigm, insitro, and CytoReason.

Get Detailed Insights on Drug Discovery Software Market with a Sample Report PDF @ https://meditechinsights.com/drug-discovery-software-market/

Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
info@meditechinsights.com

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have successfully completed 100+ projects in Healthcare IT, MedTech, Medical Devices & Pharma Services.

This release was published on openPR.