Dublin, May 15, 2024 (GLOBE NEWSWIRE) -- The "Drug Discovery Informatics Market Size and Forecast 2021-2031, Global and Regional Share, Trend, and Growth Opportunity Analysis by Workflow, Service, Solution, End User, and Geography" report has been added to ResearchAndMarkets.com's offering.
The global landscape of the drug discovery informatics sector is experiencing an unprecedented growth trajectory, with market valuations expected to soar from US$ 3.07 billion in 2023 to an impressive US$ 8.17 billion by the year 2031. At this pace, the sector is poised to expand at a compound annual growth rate (CAGR) of 13% throughout the forecast period between 2023 and 2031.
This remarkable growth is largely attributed to the substantial investments directed towards the research and development (R&D) of novel drug molecules within the pharmaceutical industry. Additionally, the ever-increasing integration of computational tools alongside information technology to streamline and advance drug discovery and development processes acts as a pivotal growth catalyst. Despite the growth, the market confronts challenges such as the scarcity of skilled professionals and the steep costs associated with software deployment that may impede its momentum.
At the core of this expansion lies the strategic deployment of Artificial Intelligence (AI) and Machine Learning (ML) technologies that continue to revolutionize the field by improving the efficiency, pace, and success rates of drug development endeavors. These cutting-edge tech solutions are adept at parsing through extensive data sets, identifying intricate patterns, and forecasting molecular behavior, which collectively expedite the discovery of promising drug candidates. The integration of AI into informatics is not only heightening demand for computational tools and algorithms but also paving the way for a swath of innovative product releases designed to enhance the drug development pipeline.
Segmental Insights
In the segmentation landscape, the discovery informatics workflow segment's predominance in 2023 bolsters the market share, while drug development is predicted to observe the sharpest CAGR growth in the upcoming period. Considering service-based classification, sequence analysis platforms are expected to dominate the market share in 2023, whereas molecular modeling segments may witness rapid CAGR growth. From a solutions perspective, services outdo software regarding market share and are anticipated to encounter accelerated CAGR rates in the forecast period. Evaluating the market through the lens of end-users, pharmaceutical and biotechnology companies lead the way, with contract research organizations (CROs) trailing closely in both market share and potential CAGR growth.
Regional Analysis
Geographically, the report encompasses diverse regions, including North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. Asia Pacific region stands out as the region with the fastest prospective CAGR for the drug discovery informatics market between 2023 and 2031. Integral to this region's growth are factors such as the establishment of major industry players, an amplified incidence of infectious diseases, and the swift adoption of advanced R&D tools by prominent pharmaceutical entities and CROs aimed at drug discovery and development.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2023-2031 |
| Estimated Market Value (USD) in 2023 | $3.07 Billion |
| Forecasted Market Value (USD) by 2031 | $8.17 Billion |
| Compound Annual Growth Rate | 13% |
A selection of companies mentioned in this report includes, but is not limited to:
- Certara
- Infosys Ltd.
- Collaborative Drug Discovery, Inc.
- Jubliant Biosys
- Curia Global, Inc.
- Chemaxon Ltd.
- Charles River Laboratories
- Agilent Technologies, Inc.
- Illumina, Inc.
- Boehringer Ingelheim International GmbH
For more information about this report visit https://www.researchandmarkets.com/r/hjn8i9
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
