Drug Discovery Informatics Market: Discovery informatics segment dominated the market
Transparency Market Research has published a new report that expects the global drug discovery informatics market to exhibit a massive CAGR of 17.0% for the mentioned projection period of 2017 to 2025. With this huge growth rate, the global drug discovery informatics market is expected to touch the mark of US$7.8 bn by the fall of 2025. Previously, the market was valued at US$2.0 bn in 2016.
Strategic Long-term Investments are Helping Market to Flourish
The global drug discovery informatics is going to experience a steady development because of the conventional drug discovery procedures. As such drug discover procedures are complicated, they need to generate a lot of information and data. These processes also need both modern computational and engineering applications for their fulfillment. Development informatics are thus projected to flourish even further in the coming years of forecast period because of the advancements in technology supporting drug discovery informatics.
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The pharmaceutical sector deals with a great amount of data during the process of drug discovery. In addition to this, it takes roughly around ten years to develop a drug and launch in the market with appropriate approvals. During this entire cycle, the time required for the discovery of a drug itself is over 4 years. Naturally, the investments and funding provided for such procedures are huge and final outcome in terms of revenue too is huge. Such long terms investment strategies are thus helping the global drug discovery informatics market to develop at a great pace.
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Some of the well-known and established companies in the global drug discovery informatics market include names such as Albany Molecular Research Inc., Charles River Laboratories International Inc., Thermo Fisher Scientific AG, Boehringer Ingelheim GmbH, and International Business Machines Corporation among others.
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North America to Remain as Largest Regional Segment During Forecast Period
In terms of geographical segmentation, the global drug discovery informatics market is divided into five major regions viz. Asia Pacific, Europe, Middle East and Africa, North America, and Latin America. Of these regional segments, the global drug discovery informatics market is currently dominated by the North America region. The market is expected to continue to act as the leading contributor for the development of the global market in the near future. The well-established nature of healthcare infrastructure, availability of huge technological and economic resources, and presence of several established players in the region are some of the important driving factors for the growth of the North America market for drug discovery informatics.
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