European drug discovery informatics market is projected to grow at a significant CAGR during the forecast period (2020-2026). The growing research activities such as the implementation of pilot projects related to the Drug Supply Chain Security Act in the region are further supporting the growth of the European drug discovery informatics market. In February 2019, a consortium of various universities including Frankfurt University of Applied Sciences, RheinMain University of Applied Sciences, Fulda University of Applied Sciences, and operational partners including Bayer AG, Boehringer Ingelheim Pharma GmbH & Co. KG, and GEFCO Forwarding Germany GmbH has developed a validated web-based platform called MYTIGATE.
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Moreover, the adoption of AI technology by the various pharmaceutical companies for the drug discoveries further offers ample opportunity to the market. For instance, in November 2016, Janssen Pharmaceutical NV partnered with BenevolentAI Ltd. BenevolentAI Ltd. licensed the right to develop, manufacture, and commercialize clinical-stage drug candidates from Janssen after using artificial intelligence to identify untapped potential in Janssen’s portfolio. In May 2018, Roche starts working on drug discovery using AI with Owkin. Therefore, the significant presence of the major pharma companies that are actively engaged in drug discovery along with the adoption of AI analytics solutions in the country is anticipated to drive the growth of the market in Europe.
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European Drug Discovery Informatics Market – Segmentation
By Function
- Docking
- Molecular Modeling
- Libraries and Database Preparation
- Sequencing and Target Data Analysis
- Others
- By End-User
- Pharmaceutical & Biotechnology Companies
- Contract Research Organization (CRO)
- Others (Research Institutes)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
