The North American drug discovery informatics market is projected to grow at a significant CAGR during the forecast period (2020-2026). Rising investment by the research institutes and pharmaceutical companies for the drug discoveries is further projected to create significant growth to the market in the region. The pharmaceutical companies whether they are key market players or start-ups are basically recognized by their increased drug discovery and R&D efforts that generate large volumes of data. The data originates from several phases of drug development, including the preclinical trial phase, drug approval phase, and marketing and post-sales phase. Therefore, the rising amount of drug discovery-related data further projected to provide significant adoption of analytics tools in the region.
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Moreover, the presence of major pharmaceuticals and IT companies in the region further provides ample opportunity to the market. For instance, in September 2019, Novartis and Microsoft announced a significant move to entrench data science and AI within its business. Both the companies partnered for the creation of an AI Innovation Lab that particularly focuses on personalized therapies for macular degeneration, cell and gene therapy, and drug design. In May 2018, Roche in partnership with IBM Watson Health uses real-world data for the prediction of chronic kidney disease in patients with diabetes. Thus, these collaborations between IT and pharmaceutical companies further provide significant scope for the drug discovery informatics market.
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North American 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.)
