Global Drug Discovery Informatics Market is Anticipate to Reach at a CAGR of 9.5% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Drug Discovery Informatics Market by Solution (Services, Software), Function (Docking, Library & Database Preparation, Molecular Modeling, Sequencing & Target Data Analysis, Others), Application (Drug Discovery, Drug Development), End-User (Biotechnology Companies, Pharmaceutical Companies, Contract Research Organizations, Others), Regions, and Global Forecast 2020-2027.
The global drug discovery informatics market is expected to grow from USD 2 billion in 2019 to USD 4.13 billion by 2027, at a CAGR of 9.5% during the forecast period 2020-2027. The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period 2020-2027. This growth is due to factors like the increasing number of CROs and the rapid growth in the biopharmaceutical & pharmaceutical industries. On the other hand, the North America region accounted for the major market share of 52.8% in the year 2019 (followed by Europe) and is anticipated to grow throughout the projected period. The large share of this segment is attributed to key factors such as the increasing R&D expenditure by biopharmaceutical & pharmaceutical companies and the existence of well-established CROs.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
DOWNLOAD FREE SAMPLE REPORT: https://www.fiormarkets.com/report-detail/418894/request-sample
Key players in the global drug discovery informatics market are Jubilant Life Sciences Limited, Eurofins Scientific, Charles River Laboratories International, Thermo Fisher Scientific, IBM, Schrödinger, Inc., Clarivate Analytics, Evotec AG, Dassault Systèmes, Accenture, Cognizant, Albany Molecular Research, and GVK Biosciences among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the global drug discovery informatics market.
On the basis of solution, the market has been divided into services and software. The software segment has been forecasted to register a CAGR of more than 11%. Based on function, the market has been segmented into docking, library & database preparation, molecular modeling, sequencing & target data analysis, and others. Sequencing & target data analysis dominated the market and valued at USD 520 million in the year 2019. The large share of this segment is attributed to improved processing of information from multiple sources & domains and the increased use of sequencing analysis techniques for new drugs. The application segment comprises of drug discovery and drug development. The drug development segment held the majority share of the global market in 2019. Based on end-user, the global market has been segmented into biotechnology companies, pharmaceutical companies, contract research organizations, and others. Pharmaceutical companies dominated the market and valued at USD 680.7 million in the year 2019. The growth of this segment was due to pharmaceutical companies currently using drug discovery informatics software intensively for target identification, lead identification, pre-clinical R&D, & compound screening, and are also streamlining their drug discovery processes.
About the report:
The global drug discovery informatics market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
Customization of the Report:
The report can be customized as per client requirements. For further queries, you can contact us on firstname.lastname@example.org or +1-201-465-4211. Our executives will be pleased to understand your requirements and offer you the best-suited reports.
- CDN Newswire