Drug Discovery Informatics Market Size, Share, Industry, Forecast and outlook (2023-2030)
Global Drug Discovery Informatics Market Segmented By Mode (In-House Informatics, Outsourced Informatics), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Drug Discovery Informatics Market Overview
The Global "Drug Discovery Informatics Market" is expected to grow at a high CAGR during the forecasting period ( 2023-2030).
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Drug discovery informatics is a complex system that requires the generation of extensive information, and data. Medical scientists create enormous amounts of data when researching specific diseases treatments or particular parameters such as patient demographics.
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Discovery informatics builds systems that can work more efficiently with the large sets of clinical trial and treatment data through the application of modern computational, and engineering approaches the models are simulated, analyzed, and visualized.
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For instance, ten years is typically the amount of time that elapses between researching a drug and it hitting the market, but that can be decreased with the use of drug discovery informatics. Drug discovery informatics also supports the continued growth of precision medicine, which involves increasing the efficacy of medical care for specific patient groups based on genetic or molecular profiling.
Drug Discovery Informatics Market Dynamics and Trends
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Drug discovery informatics market significant drivers are the increasing focus on precision medicine, advances in technology which have led to improved data storage, management, processing, and analysis.
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Data accumulation is crucial as new methods of gene sequencing, and molecular profiling has vastly increased the amount of data available.
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Discovery informatics streamlines the system of researching and creating new drugs and is more efficient. The time and cost of drug discovery are significantly reduced in comparison with the traditional process helps the market has gain prominence.
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Drug companies on average spend billions of dollars while developing an active drug and failures in this area are expensive.
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These failures can be mitigated with efficient data mining and analytics, which further fuel the surge into drug discovery informatics.
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However, the high pricing and setup cost of informatics software and the scarcity of skilled professionals may hinder the drug discovery informatics market.
Drug Discovery Informatics Market Segment Analysis
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By Mode segment, the global drug discovery informatics market is classified into in-house informatics and outsourced informatics.
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The in-house informatics segment currently holds the most significant market share owing to the presence of information technology platforms in most of companies. In-house informatics provides autonomy to more researchers and laboratory scientists, and better decision-making tools when compared to outsourced informatics.
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However, the outsourced informatics segment is growing at a substantial pace owing to the increase in lead drug discovery projects and collaborations between pharmaceutical companies, and IT market participants to increase access to the tools and databases needed for clinical drug discovery.
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By Service segment, the global market is classified into sequence analysis platforms, molecular modeling, docking, clinical trial data management, and others. Sequence analysis platforms are estimated to dominate the services share of the market owing to the reduced cost of sequencing informatics.
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Reduction in price will significantly increase the adoption rates of the advanced genetic sequencing of the genome which provides new opportunities in lead identification and will result in a significant increase in demand of sequence analysis platforms adoption.
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Molecular modeling services are expected to have substantial growth in the services segment owing to initiatives being taken to foster and disseminate molecular informatics.
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By Product segment, the global market is classified into discovery informatics and development informatics. Discovery informatics is further segmented into identification & validation informatics assay development informatics and lead generation informatics and development informatics into lead optimization, FHD preparation, phase IA informatics, and phase IB/2 informatics.
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Development informatics holds a significant share as leads generated before drug discovery is optimized. Development informatics employs combinatorial chemistry and chemical libraries.
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It involves screening and testing of different chemical agents to check their biological effects on a specific target of interest. Discovery informatics market size is expected to show considerable progress because of the introduction of new and novel platforms as well as related data analysis services gotten from clinical trials.
Drug Discovery Informatics Market Geographical Share
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North America accounts for the largest share in the global drug discovery informatics market. It is a crucial contributor to the market as it is technologically advanced and has extensive research activities and developments of next-generation sequencing and chemical laboratories that are undertaken by prominent players in the area.
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Other factors are the high spending of GDP in healthcare and the broad base of the patient population due to higher incidence rates of different infectious diseases and oncology diseases which further stimulate the growth of the market for drug discovery informatics.
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The Asia Pacific is expected to experience the fastest growth primarily due to the increase in the volume of clinical trials being conducted in this region as well as advancements in research software.
Drug Discovery Informatics Companies and Competitive Landscape
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Companies are adopting strategies such as mergers and acquisitions, product innovation, and partnerships to stand out as strong competitors in the market. However, collaborations are the primary approach used by key players to expand the portfolio of drug discovery informatics and to improve their market presence.
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For instance, Infosys developed a cloud-based application to expedite the supply management services for clinical trials, which is anticipated to improve the whole drug design procedure. The company has collaborated with some pharmaceutical companies and clinical trial organizations.
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In 2015, Perkin Elmer and Albany Molecular Research Inc. (AMRI) collaborated for facilitating translational research in the drug design sector. The collaboration provides AMRI the ability to obtain, assimilate, manage, and analyze large complex data for therapeutic drug discovery.
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January 2019, Tamr Inc., Scilligence, Clarivate Analytics joined Accenture’s open partner ecosystem, designed to help independent software vendors (ISVs) and life science companies team more effectively to accelerate drug discovery efforts.
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The ecosystem is an integral part of Accenture’s cloud-based informatics research platform, which has been designed to help life sciences organizations improve productivity, efficiency, and innovation in drug discovery.
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Scilligence is a provider of mobile cheminformatics and bioinformatics for the life sciences industry allowing for the integration of Diligence’s informatics solutions.
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Clarivate Analytics is the global leader in providing trusted insights and analytics that accelerate the pace of innovation. Tamar brings to Accenture’s open partner ecosystem it’s patented machine learning-based software platform, Unify. It is used to automate the unification of myriad data sources.
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Significant players include Charles River Laboratories, Infosys, GVK Biosciences, DiscoverX, and Novo Informatics.