The study involved two major activities in estimating the current size of the drug discovery informatics market. Exhaustive research was conducted to collect information on the market as well as its peer and parent markets. The next step was to validate these findings, assumptions, and sizing estimates with industry experts across the value chain through primary research. Both revenue-based and service-based estimation approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the size of the segments and subsegments.
Expected Revenue Growth in Drug Discovery Informatics Market:
[140 Pages Report] The global drug discovery informatics market is projected to reach USD 3.5 billion in 2025 from USD 2.2 billion in 2020, at a CAGR of 9.3% during the forecast period. Market growth is largely driven by factors such as the rising R&D expenditure, growing support for research, especially in the area of rare diseases, and the increasing use of informatics in drug discovery. However, the scarcity of skilled professionals and the high setup cost of informatics software are expected to limit market growth to a certain extent.
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Jubilant Life Sciences (India) has marked its presence among the major players in the discovery informatics market. To sustain its position in the drug discovery informatics market, the company focuses on collaborations to emerge as a preferred provider of drug discovery informatics services. For instance, in 2017, the company collaborated with Orion Corporation to provide drug discovery services. Such collaborations help the company to achieve business growth as well as advertise its expertise in the drug discovery informatics market.
Charles River Laboratories (US) offers various services ranging from target discovery to candidate validation as a part of the drug discovery informatics segment. As one of the leading firms in the industry, Charles River Laboratories has numerous strengths that help it to thrive in the marketplace. The firm also has a successful track record of integrating complimentary firms via mergers and acquisitions. It has successfully integrated a large number of technology companies in the past few years to streamline its operations and build a reliable supply chain
By function, the sequencing and target data analysis segment accounted for the largest share for the drug discovery informatics market.
The sequencing and target data analysis segment accounted for the largest share of the drug discovery informatics market for the function segment of the market in 2019. The large share of this segment can be attributed to increased application for sequencing analysis for the new drug entity and ease of handling of information from different sources and different domains.
By the end-user, the pharmaceutical companies segment accounted for the largest share of the drug discovery informatics market.
The pharmaceutical companies segment accounted for the largest share of the drug discovery informatics market in 2019, and pharmaceutical companies are using these informatics software extensively for pre-clinical research & development, target identification, compound screening and lead identification, and streamlining their drug discovery process which is the major factor for driving the growth of this segment
By application, the drug development segment accounted for the largest share of the drug discovery informatics market.
The drug development segment accounted for the largest share of the drug discovery informatics market in 2019, large share of this segment is primarily attributed to the increasing investments in the research and development of new drug molecules and the growing need for time and cost optimization for drug discovery and development.
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Key Players In Drug Discovery Informatics Market:
The major companies in the drug discovery informatics market include Jubilant Life Sciences Limited (India), Charles River Laboratories (US), IBM (US), Clarivate Analytics (US), and Accenture (Ireland).