The drug discovery informatics is a system which enables the scientists or researchers to work efficiently with big data created during clinical trials. To process data, the system uses algorithms to combine curated and diverse data related to disease, drug, gene expression, proteins, and pathway. The drug discovery informatics also provides the potential to modify the system to use data in drug discovery.
Global Drug Discovery Informatics Market: Growth Factors
The increasing need of handling big data, rising prevalence of diseases, huge investments by government and major key players in research & development of the drugs, increasing focus on the development of novel drugs & effective treatment for rare diseases, outsourcing of drug discovery, and adoption of informatics in the process of drug discovery are the major factors uplifting the growth of the global drug discovery informatics market. Moreover, the increasing number of drug discovery service providers that enables the process of drug discovery in a very short period as well as in a cost-effective manner is also driving the growth of the market. Furthermore, the use of high-throughput screening in target identification and to screen large compound libraries quickly and in a cost-effective manner is also contributing to the growth of the market. The use of drug discovery informatics in precision medicines will spur the growth of the global drug discovery informatics during the forecast period. However, the lack of skilled professionals and expertise required in the realm of drug discovery informatics will hamper the growth of the market.
The pandemic of covid-19 has adversely affected the pharmaceutical industries by halting all its processes right from drug discovery to its approval. The strict lockdown and regulations imposed by the government have resulted in disruption of the supply chain, scarcity of raw materials & active pharmaceutical ingredients, and challenges in distribution. But the impact on nonclinical studies is less as compared to clinical studies. However, the sites of nonclinical studies is been affected by the pandemic due to lack of staff and the rising concerns regarding the data quality of stored samples. On the other hand, Horizon 2020, Europe’s biggest innovation and research program has invested around $7.1 million for research and development of drugs related to covid-19. Thus, the global drug discovery informatics market is facing challenges as well as opportunities during the pandemic of covid-19.
Global Drug Discovery Informatics Market: Segmentation
The global drug discovery informatics market is categorized by mode, end-user, service, and region. By mode, the market is bifurcated as outsourced informatics and in-house informatics. Based on the services, the market is segmented as molecular modeling, docking, libraries, and lead generation informatics. While based on end-user, the market is categorized into CROs and pharmaceutical & biotech industries.
By mode, outsourced informatics is expected to grow with the highest CAGR in the forthcoming years. Owing to small infrastructure and high cost, a small biotech company and startups outsource their drugs for discovery or lead identification. Moreover, the presence of skilled professionals and scientists in CRO’s in the field of medicinal chemistry is boosting the growth of the market in this segment.
Global Drug Discovery Informatics Market: Regional Analysis
North America holds the largest share in the global drug discovery informatics market followed by Europe. The market shows substantial growth in North America due to huge spending on R&D of innovative drugs, the presence of advanced technology for analytics & data mining, and increased prevalence of chronic diseases. Europe holds the second position due to the presence of major key players with highly equipped facilities including high-throughput screening and the rising focus on the development of novel drugs for rare diseases. On the other hand, Asia Pacific is expected to register the highest growth rate in the forthcoming years due to the expanding pharmaceutical industry in terms of mechanism-based drug discovery, government initiatives to promote the pharmaceutical industry, and the rising number of drug discovery service providers.
Global Drug Discovery Informatics Market: Competitive Players
Clarivate Analytics, Charles River Laboratories International, Jubilant Life Sciences Limited, Infosys Limited, IO Informatics, WuXi AppTec, Novo Informatics, PerkinElmer Inc, and Evotec AG are some of the key players operating in the global drug discovery informatics market.