Drug Discovery Informatics Market Set to Expand at a Staggering 10.9% CAGR, Reaching USD 8,132.56 Million by 2032 | Polaris Market Research

The market growth is driven by technological progressions such as amalgamation with artificial intelligence and cloud computing.

New York, USA, Nov. 12, 2024 (GLOBE NEWSWIRE) — Market Outlook:

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

What is Drug Discovery Informatics?

Drug discovery is an intricate and protracting procedure that includes the recognition and advancement of contemporary medications to cure several illnesses and enhance human health. Conventionally, the procedure depends on strenuous and costly probing proceedings. But with the speedy progression of technology, drug discovery informatics has surfaced as a dominant instrument transforming the way scientists explore for probable drug contenders. It amalgamates computational and information sciences with chemistry and biology. It supports a broad gamut of computational instruments, algorithms and databases to inspect and translate massive amounts of biological and chemical data.

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Critical Market Figures:

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

Prominent Detections from Report:

• The market for drug discovery informatics is expected to increase significantly due to many tech firms initiating inventive drug discovery solutions to meet the demand from the healthcare industry.
• The drug discovery informatics market segmentation is mainly based on application, mode, services, end-user, and region.
• North America registered as the largest market share.

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Drug Discovery Informatics Market Drivers and Trends:

• Interpretation of Genomic Data: The multiomics suite hastened the analysis of translation of genomic data, easing the advancement of customized treatments by firms. These AI enabled progressions in the market are changing the drug detection procedure by rendering it more productive to manage the intricacy of biomedical data.
• Substantial Funding: Sizeable funding by firms to accelerate the drug discovery process is driving the market growth. For instance, in July 2023, Nvidia rendered notable funding of USD 50 million in Recursion Pharmaceuticals to speed up the progression of artificial intelligence models particularly customized for drug discovery. This funding improved the potential of drug discovery informatics and charted the course for inventive remedies.
• Notable Growth Strategies: Firms are gaining, participating, and cooperating with pedagogical organizations, research firms, and pharmaceutical firms to stimulate invention in the market space. These kinds of tactical ventures are broadly speeding up research and development, decreasing prices, and enhancing the favorable results of contemporary drug advancements, improving the drug discovery informatics market demand.
• Government Initiatives for Rare Diseases: Governments are establishing inventiveness to regulate and enhance drug advancement for sparse illnesses or conditions. These capabilities, which involve escalated funding, tax inducements, and efficient administrative procedures, motivate pharmaceutical firms and research establishments to fund in detection and advancement of cures.

Industry’s Crucial Players:

• 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 most drug discovery informatics market share. This is a result of the existence of an entrenched pharmaceutical industry. The region’s pharmaceutical industry is granting a sizeable quantity of funds to research and development ventures. For instance, as per the Congressional Budget Office, the US pharmaceutical industry disbursed USD 83 billion on research and development ventures in 2019.

Moreover, due to accordance easing alliances that merge global proficiency with local market skill-promoting invention, Asia Pacific region is anticipated to grow at the quickest rate over the forecast period, with a robust CAGR.

 

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Market Segmentation:

By Application Outlook:

• Drug Discovery
  • Identification, Validation, & Assay Development Informatics
  • Lead Generation
• Drug Development
  • FHD Preparation
  • Lead Optimization
  • Phase IA
  • Phase IB/2

By Mode Outlook:

• Outsourced
• In-house

By Services Outlook:

• Clinical Trial Data Management
• Docking
• Molecular Modeling
• Sequence Analysis Platforms
• Others

By End-User Outlook:

• Biotechnology Companies
• Contract Research Organizations (CROs)
• Pharmaceutical Companies
• Others

By Region Outlook:

• North America (US, Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

Browse PMR’s Drug Discovery Informatics Market Report Coverage from Different Publications:

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

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