The global Drug Discovery Informatics Market size is expected to reach USD 5.63 billion by 2028 registering a CAGR of 11.3% over the forecast period, according to a new report by Grand View Research, Inc. Use of drug discovery software for gaining market intelligence owing to several advantages, such as rapid drug design & synthesis, efficient tracking of disease evolution, and data integrity management, has increased significantly among the researchers in the recent years, driving the industry growth.
The growing demand for novel molecules is driving the adoption of informatics solutions targeted towards speeding up the entire drug discovery process by identifying rational drug molecules via the target macromolecule interaction. Companies operating in the market are receiving funding for expanding their drug discovery platforms, further supplementing the market growth. For instance, in September 2020, Ardigen signed an agreement with the National Centre for Research and Development to access its funding for developing novel technology.
This technology was aimed at revolutionizing the development of T-cell receptors-based therapies for immuno-oncology. Ardigen has previously developed a neoantigen prediction platform namely, ArdImmune Vax, which deploys ready-to-use Artificial Intelligence (AI) and bioinformatics solutions for the identification of optimal sets of neoantigens as targets for adoptive cell therapies and cancer vaccines. In addition, chemical informatics solutions have gained considerable traction in the past year, particularly in addressing the needs associated with the recent Covid-19 pandemic.
For instance, a research study performed in January 2021 showcased the application of chemical digital solutions in accelerating the search of SARS-CoV-2 Mpro inhibitors by data analysis of previous activity data of SARS-CoV main protease (Mpro) inhibitors. In addition, the QSAR models helped in the data mining of molecules for rapid Covid-19 drug discovery. Hence, the need to facilitate drug development for Covid-19 is expected to propel the industry expansion over the coming years.
Related Press Release @ Drug Discovery Informatics Market Report
Drug Discovery Informatics Market Report Highlights
- The discovery workflow segment accounted for the largest share of 59.19% in 2020 owing to the increased focus of pharmaceutical companies on the development of novel drug candidates
- The development workflow segment is expected to register the fastest CAGR from 2021 to 2028 owing to a rise in the number of drug candidates in the clinical development phase
- The outsourced mode segment led the market in 2020; however, the in-house mode segment will generate the maximum revenue by 2028 growing at the fastest CAGR over the forecast period owing to high demand for such platforms & services across Asia Pacific countries
- Led by the U.S., North America led the global market in 2020 due to the presence of key market players and established R&D infrastructure in the country
- Key industry participants focus on strategic acquisitions to sustain the market competition
- For instance, in January 2021, Selvita acquired Fidelta to enhance its integrated drug discovery service offerings and expand business in the Europe market