Albany, New York, June 11, 2020: Transparency Market Research has come up with a new report that projects the global drug discovery informatics market to exhibit a highly promising CAGR of 17.0% for the given forecast period ranging from 2017 to 2025. With this huge growth rate, the global drug discovery informatics market is expected to touch the mark of US$7.8 bn by the fall of 2025. Previously, the market was valued at US$2.0 bn in 2016.
Drug discovery informatics is a complex process that requires the generation of very large information, and data. Through application of modern computational, and engineering approaches the models are simulated, analyzed, and visualized. A study of dynamical complex interactions between components of biological systems will enable the understanding of the behavior of these systems at each level of their organization. For the better understanding of this, quantitative development of the biophysically, biochemically, structurally detailed mathematical models have been developed.
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North America to Continue to Lead Global Market in Coming Years
Geographically, North America held the large market share in 2016, due to increasing technological advancements in the drug discovery informatics in the region. Asia pacific is anticipated to grow at the fast growth rate during the forecast period. This is subjected to high adoption of drug discovery informatics that has led to major share held by Asia Pacific in the global drug discovery informatics market. Middle East & Africa and Latin America are expected to grow during the forecast period. Rising awareness regarding the drug discovery informatics in the regions is anticipated to grow the demand for the drug discovery informatics during the forecast period.
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The global drug discovery informatics is going to experience a steady development because of the conventional drug discovery procedures. As such drug discover procedures are complicated, they need to generate a lot of information and data. These processes also need both modern computational and engineering applications for their fulfillment. Development informatics are thus projected to flourish even further in the coming years of forecast period because of the advancements in technology supporting drug discovery informatics.
The technological advancements in the drug discovery informatics that are employed by computational informatics are leading to developments in scientific innovation. The increasing number of uses of the drug discovery informatics such as the scientists use it to communicate their ideas with their colleagues in computational chemistry, and biology to design small parallel libraries, and to conduct their own preliminary analysis of interactions between the ligand and receptor are driving the growth of the global drug discovery informatics market.
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Outsourced Informatics Segment to Show Promising Growth
The Global Drug Discovery Informatics Market is classified on the basis of product, mode, function, end-user, and region. Based on the product, the market is divided into development informatics, and discovery informatics. The discovery informatics segment dominated the market in terms of revenue in 2016, due to its cost benefits. In terms of mode, the market can be categorized into outsourced informatics, and in-house informatics. Outsourced informatics is estimated to dominate in terms of revenue in 2016 owing to the rise in collaborations and lead drug discovery projects between pharmaceutical companies, and IT market participants.
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Key companies profiled in the report include Charles River Laboratories International, Inc., Thermo Fisher Scientific, PerkinElmer Inc., Biogen Inc., Boehringer Ingelheim GmbH, Insilico Medicine, Inc., International Business Machines Corporation, Schrödinger, LLC, Albany Molecular Research Inc. (AMRI), and Certara, L.P. These players are adopting the growth strategies that increase their product offerings, strengthen their geographical reach, increase customer base and garner market share. For instance, In September 2016, Charles River Laboratories International, Inc. acquired Agilux Laboratories, a contract based research organization which provides bio analytical services.
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