The growth of global drug discovery informatics market can be attributed to the increasing demand for advanced technologies for the identification and development of new drugs. In addition, the growing investments in R&D by pharmaceutical and biotechnology companies are also expected to fuel the growth of the market.
The drug discovery process is lengthy and expensive, making it essential that pharmaceutical companies invest in the most efficient and effective tools available. One such tool is drug discovery informatics, which helps researchers quickly and easily identify potential drug targets and develop new therapies. As the use of big data becomes more widespread, informatics has become critical to the discovery process. This raised demand for drug discovery informatics professionals is expected to drive employment growth over the next decade. The job openings are also expected to be excellent due to increased use of outsourcing by large pharmaceutical companies.
The growth comes as pharmaceutical companies continue to struggle with high costs and limited alternative options for treating certain diseases. However, qualified individuals can expect numerous opportunities in this growing field.
Drug Discovery Informatics Market Dynamics: Key Factors
Sequencing and Target Data Analysis to Continue Leading the Global Drug Discovery Informatics Market
The drug discovery informatics for sequencing analysis is important for the new drug entity and ease of handling of information from different sources. The sequence data handling can be difficult and time consuming if not done properly. Therefore, major end-users are making the use of informatics tools to improve the efficiency and quality of the work. Proper annotation and curation of the data is important for the analysis. Data management of the sequencing information is very important. The use of informatics tools can help to improve the quality and efficiency of the work. The use of software such as EMBOSS can help to automate many of the tasks involved in the sequencing analysis. The software can help to improve the accuracy of the results and also reduce the time needed for the analysis.
Moreover, the drug discovery informatics market is witnessing rapidly growing demand for different tools and software as these tools can help to improve the quality and efficiency of work done on the data produced by the next generation sequencing. The use of high throughput assays has become common with increasing automation in labs, but analyzing large amount of data generated by these assays can be complex. The use of informatics tools can help to streamline this process and improve the quality of data produced. The sequencing analysis following next generation sequencing is a resource intensive activity, but use of informatics tools can reduce the time needed for these activities.
Well-established Healthcare Infrastructure to Majorly Contribute to North America Drug Discovery Informatics Market
North America is considered to be the most advanced region in terms of technology adoption, due to which it has been a major contributor for the growth of the drug discovery informatics market. In addition, the presence of a large number of players in this region has led to significant technological innovations and product developments. The market is expected to create several opportunities for small and medium enterprises (SMEs) due to the high adoption rate of these tools by SMEs. Various government initiatives have also created new employment opportunities for informatics professionals.
The region is home to a number of well-established CROs, which helps to drive demand for informatics services. In addition, R&D expenditure by pharmaceutical and biopharmaceutical companies is on the rise in the region. North America is home to some of the leading CROs, including Parexel, Quintiles, Covance, Charles River Laboratories, CRI Worldwide, ICON plc, and Icon Clinical Research. Furthermore, presence of key clients such as Roche Diagnostics (US), Pfizer (US), Merck & Co. (US), and Eli Lilly and Company (US) is also fueling the demand for drug discovery informatics services in the region. Moreover, strong government support for R&D activities is also contributing to the growth of the market in North America. For instance, in the US the National Institutes of Health (NIH) spent nearly $37.5 billion on health-related research, and this is expected to drive the growth of the drug discovery informatics market in the region during the forecast period 2021-2027.
It has been observed that key players operating in North America drug discovery informatics market are focusing on collaborations and strategic alliances with regional and international companies to expand their geographical presence. For instance, in March 2016, Parexel entered into a strategic alliance with Shanghai-based WuXi AppTec to offer expanded services to clients in China. This alliance is expected to help the companies to capitalize on the increasing demand for drug discovery and development services in China.
Pharmaceutical Companies are Ramping up Investment in Drug Discovery Informatics Market
Jubilant Life Sciences Limited (India), Charles River Laboratories (US), IBM (US), Clarivate Analytics (US), and Accenture (Ireland) are some of the key players in the drug discovery informatics market.
From the last few years, the field of drug discovery informatics has exploded. Pharmaceutical companies are now opting for this technology in order to streamline their drug discovery processes. It allows researchers to store and analyze data more efficiently, which can lead to faster drug discovery turn-around times, higher accuracy of research results, faster identification of new drug targets, and the ability to analyze more data than traditional methods allow.
Initially, researchers used to handle the data associated with their experiments on spreadsheets, which was time-consuming and prone to errors. As drug discovery informatics technology has evolved, researchers are now able to collect, store, analyze and visualize research data on databases specifically designed for this purpose using software tools such as Bioconductor, Taverna workbench and KNIME.
Pharmaceutical companies in the global drug discovery informatics market are quickly realizing the benefits of drug discovery informatics and are making large investments in this technology. For example, GlaxoSmithKline (GSK) has set up a dedicated Informatics Research Centre that uses informatics to help identify new drug targets and design molecules to hit those targets. The center employs over 1000 people and has a budget of over $200 million. GSK is not alone; other pharmaceutical companies such as Roche, AstraZeneca and Merck are also investing heavily in drug discovery informatics.
Key Elements Included In The Study: Global Drug Discovery Informatics Market
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