Drug Discovery Informatics Proved Promising in Improving Time and Cost of Drug Discovery unlike Traditional Processes
Published On : Nov 22, 2018 | Category : Healthcare
The global drug discovery informatics market is foreseen to see expansion with increasing application in reducing the time and cost of drug discovery that are usually on the higher side in conventional processes. Several biotech companies and pharmas are already using drug discovery informatics, which shows that the global market has been in the limelight since quite some time now. The healthcare industry could exhibit strong demand for drug discovery informatics in the near future. Drug discovery informatics is used as an improved decision-making tool by laboratory scientists. Moreover, it is said to provide a considerable degree of autonomy to researchers.
Transparency Market Research (TMR) projects the global drug discovery informatics market to post a 17.0% CAGR between 2017 and 2025. By the final forecast year, a US$7.8 bn valuation could be achieved by the global drug discovery informatics market, progressing from a valuation of US$2.0 bn attained in 2016.
Rise in Number of Complex Biological Targets Works in Favor of Global Market
Constant rise in the number of complex biological targets is expected to increase the demand in the global drug discovery informatics market. Development of new technologies encouraging collaboration between project teams and growing inclination toward the outsourcing of drug discovery informatics could set the tone for valuable growth of the global market. Executive management personnel of projects increasing their expectations for taking better decisions are foretold to raise more demand in the global drug discovery informatics market.
On the other hand, rising use of computer applications related to drug discovery informatics could create rewarding prospects in the global market.
Reduced Cost of Sequencing Informatics Amplifies Demand for Target Data Analysis
Heavy use of drug discovery informatics to push scientific innovation is expected to augment the demand in the global market. The application in performing preliminary analysis of receptor and ligand interactions could stoke the demand for drug discovery informatics. The designing of small parallel libraries could be another application propelling the demand in the global drug discovery informatics market. In computational chemistry, scientists use drug discovery informatics to let their colleagues know about their insights and opinions.
The rising number of drug discovery CROs across the world is prognosticated to catapult the global drug discovery informatics market. Reduction in the cost of sequencing informatics could be one of the crucial factors increasing the demand for target data and sequencing analysis and thereby drug discovery informatics.
Technological Development Helps North America to Rank Higher vis-à-vis Market Share
Players looking to score big in the global drug discovery informatics market are prophesied to cash in on the lucrative prospects available in North America. In 2016, the region accounted for a substantial share of the drug discovery informatics market. Another region that could provide tailwinds to the drug discovery informatics market is Asia Pacific. This regional drug discovery informatics market is projected to show quicker growth in the next few years. The region could also show strong adoption of drug discovery informatics in the future.
The drug discovery informatics market is also envisaged to expect growth in other regions such as Latin America and the MEA owing to improving awareness.