San Francisco, 08 January, Chemoinformatics
Market Analysis By Application (Chemical Analysis, Drug Discovery, Drug Validation)
Segment Forecasts to 2024
The global chemoinformatics market is expected to reach over
USD 21.18 billion by 2024 according to a new report published by Grand View
Research, Inc. Some major determinants influencing the market growth include
the constantly improving modern drug development processes, increasing use of
in-silico techniques in research, and the advantages associated with employing
the chemoinformatics approach, such as the reduction in the overall R&D
expenditure during the drug development process.
The ever increasing growth of
the drug development market will boost the demand for chemoinformatics owing to
its numerous applications in drug designing at various stages. Right from
target identification to its development as a potential drug candidate,
chemoinformatics tools play a crucial part.
The significant contributions of the varying in silico tools in the generation of hits through
the High Throughput Screening(HTS) process, target compound selection, virtual
structure generation, Pharmacokinetic property and toxicity prediction of
chemical compounds, and the quantitative-structure relationship determination
have been a major driving force for the growth of the chemoinformatics market.
The heavy costs incurred along
with the long time span invested in the drug discovery process has made the
integration of the chemoinformatics techniques essential in the research
activities. It aids the scientists and chemical researchers in making better
decisions pertaining to drug discovery and other related research studies.
Furthermore, the increasing demand for efficient and effective medicines,
rising investments in R&D, growing geriatric population, and the burgeoning
number of individuals with lifestyle related diseases are expected to
positively reinforce the market growth. The key applications of the
chemoinformatics tools and softwares in drug designing and discovery has been
its largest application and is expected to grow further with further advances
in the drug discovery process.
Chemoinformatics has made marked contributions to the
areas of chemical drug development and research. The growth of this field is
driven by the continually generated raw data in screening operations and
research studies. Chemoinformatics in silico tools
aid in effective data management, which facilitate data retrieval and analysis
thus providing large databases of accessible information to scientists involved
in both, the drug development process and other research related studies.
The development of three
dimensional chemical structure databases has been a significant achievement in
the field of chemoinformatics as it has significantly aided the research
process. Applications of chemoinformatics platforms in computer-assisted
synthesis designing, computer-assisted structure elucidation, and chemometrics
have further contributed to the market growth.
The advancements in
computational technology have been a high impact rendering driver for the
market growth. In this direction, the development of super computers and
silicon graphics computer for calculations, 3D structure generation, molecular
graphics, and complex data display have been pivotal in propelling the growth
of the chemoinformatics market. With the advent of advanced WEB technologies
and their incorporation in the in-silico computational techniques have totally
revolutionized this field.
The increasing needs for
advanced and efficient technologies to yield better results has made the
chemoinformatics area an indispensable part of the pharmaceutical industry. The
surging need for therapeutically-effective medicines coupled with the increasing
investments in the R&D area and the advancements in computer technologies
provide lucrative opportunities to the market for it to grow and flourish in
the near future.
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Report On Chemoinformatics Market Analysis:
Further key findings from the study suggest:
·
In 2015, North America
dominated the chemoinformatics market with a revenue share of over 36% on
account of the following factors: the high investments pertaining to the
R&D initiatives, technological advancements, the presence of major players
in the drug manufacturing industry, and the increasing prevalence of
lifestyle-related diseases. With respect to the global R&D spending, North
America holds the largest share. Also, it holds a major share in the ADME-toxicology
market that further spurs the growth of the chemoinformatics market.
·
Asia Pacific is identified as
one of the fastest growing regional markets, growing at a lucrative CAGR of
18.3% during the forecast period. The growth of this market can be attributed
to the growing research activities being conducted in economies, such as India,
China, and Singapore. The key advantages associated with undertaking research
activities in these countries include the low manufacturing and labor costs and
the less stringent regulations, which attract many multinational players to the
Asia Pacific region. Additionally, the government initiatives and funds that
are deployed to improve the R&D infrastructure will further drive the
market growth.
·
Key players operating in the
market include Agilent Technologies, Inc., BIOVIA (Accelrys), Bio-Rad
Laboratories, Inc., CambridgeSoft Corp., ChemAxon, Inc., ACD/Labs, Inc.,
Schrödinger, LLC, and Chemical Computing Group, Inc. Additionally, the rising
demand for in-silico techniques
in the research sector is expected to provide new market entrants with
profitable opportunities thereby driving the market growth.
Browse More Reports Of This Category By Grand View
Research At: www.grandviewresearch.com/industry/healthcare-it
Grand View Research has segmented the
chemoinformatics market by applications:
Global Chemoinformatics Market,
by Application (USD Billion, 2013 - 2024)
·
Chemical Analysis
·
Drug Discovery
·
Drug Validation
·
Others
Chemoinformatics Market
Regional Outlook, by Revenue (USD Billion, 2013 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
Japan
o
China
o
India
·
Latin America
o
Brazil
o
Mexico
·
MEA
o
South Africa
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information: www.grandviewresearch.com/
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