Drug Discovery Informatics Market Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
Seattle, WA -- (SBWIRE) -- 11/07/2019 -- Drug discovery informatics and development is an intricate process that includes generation of large volume of data. At present the market for drug discovery informatics is largely unmet. The existing approaches to gather information from various sources have been dealt with in some cases where the data types are very least well-defined or largely homogeneous. Domain specific data mining and data integration such as genomic and chemical data are expected to offer substantial growth opportunities for drug discovery informatics. Procurement and management of graphical, textual, and undefined data are some of the major challenges in this field. However, these will become a vital part of data searching as well as building knowledge and information-bases. These factors will eventually lead to the growth of the data discovery informatics market during the forecast period.
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Increasing prevalence of chronic disease such as cancer, cardiovascular diseases (CVD), and diabetes mellitus is the chief concern for healthcare professionals and government organizations around the globe. The U.S. government in association with President's Council of Advisors on Science and Technology (PCAST) has taken initiatives intended to improve financial stimulus to induce modernization in the pharmaceutical industry, which will drive the overall growth of the global drug discovery informatics market. Furthermore, partnerships and collaborations amongst pharmaceutical companies have given rise to infusion of money and sharing of technologies amongst them, which has enabled these companies to develop local as well as global products.
Global Drug Discovery Informatics market Taxonomy
On the basis of mode, the global drug discovery informatics market is classified into:
? In-house Informatics
? Outsourced Informatics
On the basis of service segment, the global market is classified into:
? Sequence Analysis Platforms
? Molecular Modelling
? Clinical Trial Data Management
On the basis of product segment, the global market is classified into:
? Discovery Informatics
? Identification & Validation Informatics Assay Development Informatics
? Lead Generation Informatics
? Development Informatics
? Lead Optimization
? FHD Preparation
? Phase IA Informatics
? Phase IB/2 Informatics
Introduction of novel technology and increasing number of clinical trials to drive the global drug discovery informatics market growth
Global drug discovery informatics market is expected significant growth during the forecast period, owing to introduction of novel technology, innovative cloud-based and analytics technologies, and storage and analysis of large amount of data low cost. For instance, Infosys popularized a cloud-based application to accelerate the management of data services for clinical trials. This in turn is likely to drive the whole drug design procedure. Infosys has been working in partnership with various clinical trial organizations and pharmaceutical companies to master the application and to provide easy access and management of data.
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The facilities that are offered can be outsourced to other organizations or can be used in-house via licensed solutions. On the basis of mode, in-house informatics segment holds a significant market share in the global drug discovery informatics market. However, outsourced informatics segment is likely to witness rapid growth rate during the forecast period, as the key market players are involved in various growth strategies such as collaborations with the IT solutions providers to increase their access to the tools and databases for clinical drug discovery.
Among regions, Europe accounted for the major market share in the global drug discovery informatics market. This is owing to rise in the clinical discovery ventures coupled with various activities carried out by research institutes, universities, and companies. Moreover, Asia Pacific is estimated to exhibit rapid growth rate over the forecast period, owing to high prospect of drug nanotechnology sector in this region as well as advancements in research software.
Key players operating in the global drug discovery informatics market are Albany Molecular Research, GVK Biosciences, Infosys, Certara, ChemAxon, Jubilant Biosys, DiscoverX, Novo Informatics, Charles River Laboratories, Boehringer Ingelheim GmbH, and Selvita.
Product innovations and continuous research in the field of drug discovery and scientific informatics is expected to drive growth of the market. For instance, in August 2019, Certara announced the launch of the 19.6 version of the company's scientific informatics platform for drug discovery and development, D360. The platform is designed in such a way that it allows a scientific researcher to access, share, and understand data quickly.
Increasing adoption of drug discovery platforms by biotech companies to better manage projects is likely to drive growth of the drug discovery informatics market. In August 2019, Voronoi, a drug discovery and development biotech company based in South Korea announced that they had selected CDD Vault, a hosted platform for managing chemistry and biology data, to manage the company's collaborative projects and drug discovery data.
Market players are also engaged in technological innovations in order to refine their services and product portfolio. For instance, in August 2019, Exscientia, a U.K.-based start-up, developed a drug-discovery system that uses AI algorithms to find new candidate molecules for medicines.
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Furthermore, strategic collaborations and partnerships between market players to expand their product portfolio are expected to drive the market growth. In August 2019, Sophia Genetics and ADC Therapeutics partnered to identify genomic markers associated with clinical response to an experimental lymphoma treatment. Under the agreement, Sophia's informatics platform will match genomic markers with clinical response to the treatment.
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