Zion Market Research, the market research group announced the analysis report titled 'Drug Discovery Informatics Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2021'
Sarasota, FL -- (SBWIRE) -- 01/10/2018 -- Zion Market Research has published a new report titled "Drug Discovery Informatics Market by Mode (Outsourced Informatics and In-House Informatics), by Services (Docking and Modular Modeling): Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 - 2021." According to the report, global demand for drug discovery informatics was valued at USD 1.80 billion in 2015 is expected to reach USD 4.70 billion in 2021 and is anticipated to grow at a CAGR of 17.2% between 2016 and 2021.
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Drug discovery informatics is an unconventional way of handling the structured and unstructured data engendered during the drug discovery process. The drug discovery informatics uses complicated bioinformatics algorithms to process life sciences data and hosts multiple in-silico models. It is an effective and efficient solution which offers fastest access to data. It also helps to cut down the cost of discovery due to the easy availability of data.
The outsourced informatics and in-house informatics are the major mode of global drug discovery informatics market. In-house informatics held as a foremost mode and it accounted over 50.0% share of the total revenue generated in 2015. However, outsourced informatics is expected to witness the remarkable growth in coming years owing to rising collaborations of pharmaceutical companies and IT manufacturer.
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Depending on the various service provisions, the global drug discovery informatics market is segmented into docking, modular modeling and other services. Modular modeling dominated the global drug discovery informatics market and it accounted for the largest share of the market in 2015. However, it is projected to remain prolong service mode in drug discovery informatics market owing to rapid rise in adoption of analytics in the medical industry.
With the largest share, North America was a leading regional market for drug discovery informatics in 2015 and further expected to remain major regional market for drug discovery informatics due to growing adoption rate of in-silico technologies in the region. Asia Pacific is one of the fastest growing regions compared to other regions owing to emerging pharmaceutical industries in China and India. Moreover, Europe is also expected to witness lucrative growth in near future.
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The key players of global drug discovery informatics include ChemAxon, GVK Biosciences, Jubilant Biosys, Selvita, Certara, Infosys, Albany Molecular Research Inc., Boehringer Ingelheim GmBh, DiscoverX, Charles River Laboratories, Covance, Collaborative Drug Discovery Inc., Novo Informatics, UCB and Evotec among others.
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