Cheminformatics helps expedite the drug discovery process using computational techniques and by organizing and analyzing vast amounts of chemical data. With Cheminformatics tools such as search and screen technologies, modeling and simulation software, chemical registration and structure depiction solutions, researchers can better identify potential drug candidates and validate biological targets. This significantly reduces research costs and timelines.
The global Cheminformatics Market is estimated to be valued at US$ 7.68 Bn in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased R&D investment from pharmaceutical companies and growth in patent expirations have accelerated the adoption of Cheminformatics tools for speeding up preclinical research and drug repurposing efforts. Cheminformatics plays a pivotal role in molecular modeling, hit identification, lead optimization, and drug screening processes. It allows researchers to leverage big data analytics for gaining meaningful insights from chemical databases and identifying novel drug pathways. This has significantly improved drug discovery success rates and helped address the high attrition rates at various clinical trial phases through better target validation and lead candidate selection.
Segment Analysis
The cheminformatics market is dominated by the cheminformatics solutions segment, which accounts for more than 50% of the overall market share. This is because cheminformatics solutions, such as chemical libraries, knowledge mining, molecular modeling, chemical registration, and chemical databases are highly adopted across various industries like healthcare, agriculture, chemicals, and others. The solutions help companies to manage and analyze large volumes of chemical data generated during drug discovery and material development processes.
Key Takeaways
The Global Cheminformatics Market Demand is expected to witness high growth during 2023-2030. The rising R&D expenditure in pharmaceutical and biotechnology sectors along with increasing focus on drug discovery are major factors fueling the market growth.
Regional analysis: North America dominates the cheminformatics market and is estimated to account for over 40% of the global market share in 2030. This is due to the presence of major pharmaceutical companies and research institutes carrying out extensive research on drug development in the region. Asia Pacific is expected to witness the highest CAGR during the forecast period owing to improving healthcare infrastructure and increasing investments by governments as well as private organizations in countries like China and India.
Key players operating in the cheminformatics market are Amgen Inc., F. Hoffmann-La Roche Ltd, Johnson & Johnson Services, Inc., Pfizer Inc., Sanofi, Eli Lilly and Company, AbbVie Inc., Novo Nordisk A/S, Bristol-Myers Squibb Company, NanoString, QIAGEN, Affimed GmbH, GSK plc., Merck KgaA, and Teva Pharmaceutical Industries Ltd. These companies are focusing on new product launches and mergers & acquisitions to strengthen their market positions.
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This report focuses on top manufacturers in Global Market.The Global Chemoinformatics Market size is expected to value at USD 21.18 billion by 2024.
In addition, rising importance towards development of various drug validation techniques, and integration of potential drug candidates that are developed by combinatorial chemical methods, are expected to stimulate the growth of chemoinformatics market over the forecast period.
Shifting focus towards the effective management of data, gathered during molecular and atomic reactions is anticipated to boost chemoinformatics market demand over the next seven years.
The recent technological advances in computer technology for healthcare sector is estimated to favor the growth of chemoinformatics market in the upcoming years.
