NEW YORK, July 20, 2021 / PRNewswire / – The World drug discovery computing market the size should reach $ 5.62 billion by 2028. AAccording to a new study by Polaris Market Research, the market is anticipated to register a CAGR of 11.4% from 2021 to 2028. Growing volume of drug discovery data, growing preference for advancements in in-silico modeling tools in high-performance computing services, and Growing demand for new discovery data are some of the key factors driving the market growth. In addition to this, the increasing use of drug discovery software for marketing information due to its main advantages such as effective monitoring of disease progress, rapid drug design and drug management. data integrity, promoting market growth. In addition, a huge increase in the demand for drug development to ensure effective treatment of COVID-19 disease further complements the development of drug discovery informatics market.
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Highlights of the Drug Discovery Computing Market
Workflow-based, the discovery workflow segment is expected to register the fastest growth due to the growing demand for new drugs and the the growing attention of pharmaceutical companies for the development of new drug candidates.
In terms of fashion, the outsourced IT segment accounted for the largest share of the drug discovery computing market. Growth is attributed to huge demand for such platforms and services among the major market players worldwide.
By services, the segment of sequence analysis platforms grows as such platforms are widely used for databases of nucleic acids and other biomolecule sequences.
Accelerated activities for the discovery of the drug Covid-19 around the world are becoming a major accelerator for the market. Several companies are developing ideal molecules to fight COVID-19. This incorporates the use of drug discovery informatics to increase the efficiency of drug discovery.
The american government in collaboration with the Presidential Council of Science and Technology Advisors working on an initiative that aims to improve financial incentives for the modernization of the pharmaceutical industry, which will drive the overall growth of the global drug discovery computing market.
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North America has dominated the drug discovery informatics market, due to the increase in infectious disease cases, the growing need for advanced drug discovery tools to ensure faster drug approval and the presence of key market players in the region. In addition to this, regional players are adopting key strategies such as acquisitions and mergers to boost their business, thus propelling the regional market growth. In the Asia Pacific, the market is experiencing substantial growth due to the increase in therapeutic discovery companies and continued research in the field of software.
Leading companies in the global drug discovery computing market are receiving larger investments that help them expand their drug discovery projects. In addition, pharmaceutical companies are involved in collaborations and partnerships allowing them to share technological platforms among themselves.
The major players working in the Drug Discovery Computing Market are Certara, Infosys Ltd., Albany Molecular Research Inc., Charles River Laboratories, Boehringer Ingelheim, Collaborative Drug Discovery, Jubilant Biosys, Selvita, Novo Informatics, Eurofins DiscoverX Products, ChemAxon Ltd., Oracle, Accenture, Agilent Technologies, Inc. and Illumina , Inc.
Supply side: Pharmaceutical company
Demand side: Drug discovery companies
Regulatory side: World Health Organization
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Polaris Market Research has segmented the Drug Discovery Computing Market report on the basis of workflow, mode, services, and region:
Drug Discovery Informatics, Workflow Outlook (Revenue – Million USD, 2016 – 2028)
Drug Discovery Informatics, Outlook Mode (Revenue – Million USD, 2016 – 2028)
Drug Discovery Informatics, Service Outlook (Revenue – USD Million, 2016 – 2028)
Drug Discovery Informatics, by Regional Outlook (Revenue – USD Million, 2016 – 2028)
Central & South America
Middle East & Africa
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About Polaris Market Research
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SOURCE Polaris Market Research