With the presence of a large pool of participants, the global drug discovery informatics market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). GVK Biosciences, Novo Informatics, Boehringer Ingelheim GmBh, Collaborative Drug Discovery Inc., and Evotec are some of the key vendors of drug discovery informatics across the world. These players across drug discovery informatics market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the market study.
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Citing an instance, in August 2018, Collaborative Drug Discovery Incorporation, a key player across drug discovery informatics market, declared to enter into distribution pact with Indian based firm Zastra Innovations Private Limited for distributing its CDD Vault, an important chemistry & biology data management tool for the purpose of drug discovery. Experts predict that the move is likely to lucratively leverage the growth of drug discovery informatics market in the coming years.
As estimated in this report, the global drug discovery informatics market stood at US$ 1.80 billion in 2015. Witnessing a tremendous rise during the period from 2015 to 2021, the revenue in drug discovery informatics market is expected to reach US$ 4.70 billion by the end of the forecast period.
Intense Need For Accurate & Quick Data Access To Impel Market Growth
“Escalating demand for quick data access and rising need for minimizing costs of drug discovery as a result of easy availability of information will spur drug discovery informatics market,” says the author of this study. Apart from this, the mounting use of computational technology in the medical activities is projected to elevate the growth curve of drug discovery informatics market over the coming years. The mounting necessity of processing life sciences data and hosting many in-silico prototypes is projected to create lucrative avenues for drug discovery informatics market progression.
Critical aspects of data evaluation techniques used in the drug discovery informatics process, however, is likely to obstruct the drug discovery informatics market expansion in the years ahead.
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High Popularity Of In-Silico Technologies To Help North America’s Dominance
Regionally, North America has been leading the worldwide drug discovery informatics market and is anticipated to continue on the dominant position in the years to come, states the market study. Growing penetration of in-silico technologies as well its rampant use witnessed in the region is the key factor behind the dominance of the North America drug discovery informatics market. The high number of market players being headquartered in North America is another significant factor that is supporting this regional market. For the record, North America was the leading the drug discovery informatics market across the globe in 2015.
APAC drug discovery informatics market is projected to witness a swift growth, owing to growing presence of pharmaceutical firms along with increasing occurrence of cancer ailment in most populated countries such as India and China.
The global drug discovery informatics market is segmented as follows:
- Outsourced Informatics
- In-House Informatics
- Modular Modeling
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- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa