The global drug discovery informatics market is projected to reach USD 2.84 Billion in 2022 from USD 1.50 Billion in 2016, at CAGR of 11.2% during forecast period. The base year considered for the study is 2016, and the forecast for the market size is provided for the period between 2017 and 2022.
In the current market scenario, there is a growing demand for discovery informatics solutions. The major factors driving the growth of the global market include the rising R&D expenditure, the increasing focus on drug discovery, and need to control the drug discovery and development cost. On the other hand, the scarcity of skilled professionals, and high pricing and setup cost of informatics software are the major factors restraining the growth of this market.
Based on function, the sequencing and target data analysis segment is accounted for the largest share of the market in 2017
On the basis of function, the drug discovery informatics market is divided into sequencing and target data analysis, docking, molecular modeling, libraries & database preparation, and other functions. In 2017, the sequencing and target data analysis segment is expected to account for the largest share of the drug discovery informatics market. Factors such as the expansive application of informatics solutions in targeted analysis and the large amount of data generated during the drug discovery process are driving the growth of this segment.
Based on solution, the software segment is accounted for the largest share of the market in 2017
The solution segment of the drug discovery informatics market is divided into software and services. In 2017, the software segment is expected to account for the largest share of the global drug discovery informatics market. The dominant share of this market is attributed to the fact that drug discovery informatics software solutions enable the fast and efficient management of data generated throughout the drug discovery process.
North America is expected to dominate the market in 2017
The North America is expected to account for the largest share of the drug discovery informatics market in 2017. Established pharmaceutical industry with the presence of leading pharmaceutical and biotechnology companies attributes to the largest share of North America. Europe is expected to account for the second-largest share of the drug discovery informatics market.
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The key players operating in the drug discovery informatics market are IBM (US), Infosys (India), Schrödinger (US), PerkinElmer (US), and Thermo Fisher Scientific (US).
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