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.
The drug discovery informatics market is segmented on the basis of function, solution, end user, and region.
By function, the global drug discovery informatics market is categorized into sequencing and target data analysis, docking, molecular modeling, libraries & database preparation, and other functions.
In 2017, the docking segment is expected to register the highest CAGR during the forecast period. Growth in this segment can largely be attributed to a significant role of docking in drug discovery related decision making.
On the basis of solution, the market is segmented into two categories—software and services. The software segment is expected to be the fastest-growing segment during the forecast period. The growth of this segment can be attributed to the fact that drug discovery informatics software solutions enable the fast and efficient management of data generated throughout the drug discovery process along with the addition and combination of data from various sources.
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On the basis of end user, the drug discovery informatics market is segmented into pharmaceutical and biotechnology companies, CROs, and other end users. The pharmaceutical and biotechnology companies segment is expected to be the fastest-growing segment during the forecast period. The growth of this segment can be attributed to the increasing focus towards drug discovery research and increasing adoption of informatics solutions to curtail the cost and speed-up the overall drug discovery process.
APAC is expected to be the fastest-growing market for discovery informatics during the forecast period. The high growth in this region is attributed to its fastest growing pharmaceutical market in the world, the availability of many qualified researchers, and the low cost of human resource and manufacturing.
The drug discovery informatics market with emerging growth in the Asia Pacific region is expected to lead to the increase in demand for informatics solutions in the drug discovery processes. Fastest growth in R&D activities in the Asia Pacific region is further supporting this demand. Owing to such factors, drug discovery informatics solutions provider can leverage huge growth opportunities catering to growing demand for drug discovery informatics solutions.
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