In a recent report by Transparency Market Research (TMR), the global drug discovery informatics market is anticipated to witness a steady growth rate owing to the traditional drug discovery process. As drug discovery process is complex and requires to generate lot of data and information, and requires the application of both engineering and modern computational approaches. Development informatics is expected to grow during the forecast period due to technological advancements in development informatics.
Pharmaceutical industry deals with a large amount of data in drug discovery procedure. Additionally, it takes a rough ten year procedure in order to launch a drug into the market starting from discovery process until it is distributed in the market, out of which drug discovery itself takes more than 4 years of time. Investments are huge and the outcome is enormous in terms of benefits.
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Some of the leading players of the global drug discovery informatics market are International Business Machines Corporation, Boehringer Ingelheim GmbH, Thermo Fisher Scientific, Charles River Laboratories International, Inc. and Albany Molecular Research Inc. (AMRI). Major players are acquiring new growth strategies in order to increase their customer garner and base market share, strengthen their geographical reach and increase their product offerings in the market.
As per the TMR report, the global drug discovery informatics market is estimated to exhibit a CAGR of 17.0% within the forecast period of 2017 to 2025 in order to reach a valuation of US$ 7.8 Bn by 2025 approximately.
Asia Pacific to Witness Fast Growth with High Promotion of Drug Discovery Informatics
The major factors to drive the market for drug discovery informatics market are increasing focus on delivery of drugs, rising research and development expenses around the world, development expenditure, and the need to control the discovery of drugs. Out of the various segmentation and categorization, the segment of biotechnological and pharmaceutical companies is expected to rise during the forecast period due to the cot benefits and long duration of the drug discovery informatics.
The global drug discovery informatics is seen to be drawing a large amount of revenue from North America and is expected to continue its dominance in the global market in the years to come. This is because of the increase of advancement in technology in the North American region. However, Europe is also not far behind and accounts for the second largest revenue contributing region in the market. This is due to the increasing prevalence of cancerous and infectious diseases in the area that is driving the growth of the market in the European Region.
Apart from that, Asia Pacific is presumed to grow at the fastest rate, owing to the high promotion of drug discovery informatics in the developing economies of Japan, India and China. Besides, the Middle East and Africa as well as Latin America are also expected to show growth in the forecast period due to the rising awareness of drug discovery informatics in its regions.
Lack of Proper Training Institutes Restraining Market Growth
The time and cost of drug discovery are minimized to a large extent in order to drive the market growth of drug discovery informatics. However, only a few organizations and institutions exist which provides training of drug discovery informatics. Hence, the experience required in training professionals is low, acting as a restraining factor. This has sequentially attributed for the devaluation of the growth of the global drug discovery informatics market.