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Pharmaceutical and life science research are extensively generating a massive amount of data every day. Management of this generated data and conversion of data into valuable information for making clinical decisions is still a big challenge that is being faced by research organizations and scientists. Drug discovery informatics solutions play a significant role in data integration, data organization, and data retrieval.
The solutions are responsible for maintaining scientific research workflows as well as to they offer an efficient platform to access desirable data. In September 2018, Accenture, one of the giants in the software industry, in collaboration with Amazon Web Services (AWS) and Merck & Co., Inc., announced the launch of new cloud-based drug discovery informatics platform to improve productivity and efficiency in drug discovery in the pharmaceutical industry.
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The global drug discovery informatics market is expected to register higher CAGR as a result of the gradual shift of healthcare organizations towards data-driven technologies as compared to the conventional approaches. Though data-driven technologies are presently in a premature stage, they are projected to grow at a rapid pace in the near future.
Combined with this, certain benefits provided by drug delivery informatics solutions such as data organization, improved recording & retrieval of the drug discovery process and real-time insights which can be helpful in decision-making process are expected to boost the growth of the global drug discovery informatics market during the forecast period.
However, lack of a well-established infrastructure, especially in emerging countries combined with high acquisition costs of drug discovery informatics solutions are projected to restrain the growth of the global drug discovery informatics market
The major companies covered in the global drug discovery informatics market are PerkinElmer Inc., Charles River, Infosys Limited, International Business Machines Corporation (IBM), Accenture, Amazon Web Services, Schrödinger LLC., Boehringer Ingelheim International GmbH, Accenture, CORE INFORMATICS, Informatics Matters Ltd., Tata Consultancy Services Limited and others.
By Service Type
By End User
As per the current drug discovery informatics market trends, pharmaceutical companies segment among the end user dominated the global drug discovery informatics market owing to increasing investment by pharmaceutical companies in R&D and drug discovery and development.
The global drug discovery informatics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the drug discovery informatics market in 2018. Rising emphasis on pharmaceutical and biotechnology companies on higher utilization of data-driven solutions are some of the factors driving the drug discovery informatics market growth in the region. Europe and the Asia Pacific are anticipated to grow at a significant CAGR, due to increasing demand for advanced solutions with data visualization, data analytics, integrated workflows and better user interface. Middle East & Africa accounted for considerably smaller share in the global drug discovery informatics market owing to comparatively lower research and development expenditure followed by lack of infrastructure.
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