The “The Global Chemoinformatics Market (2018-2023)” report has been added to ResearchAndMarkets.com’s offering.
The global chemoinformatics market is expected to witness a CAGR of about 18.7% percent over the forecast period of 2018-2023.
In 2017, North America accounted for the largest share of the market studied. This can be primarily attributed to the high adoption rate of innovative technologies along with a well-established healthcare IT sector in the region.
The rapid growth in the pharmaceutical industry is the result of advancements in the novel drug discoveries. These advancements are ultimately fueling the growth of chemoinformatics market across the globe.
Making a new drug is a difficult, expensive and time consuming process. For every innovative drug development, there are certain factors which restrict the process. Those factors include technical risks, cost constraints and regulatory limitations. By encouraging the collaborative data sharing, technical risk is being reduced. This data sharing is made simple by the adoption of chemoinformatics in the R&D departments of the manufacturers.
In spite of the higher costs of the tools, chemoinformatics is widely used due to its significance in the ease of drug development process. The innovations such as artificial intelligence are contributing to the rapid growth of drug development which in turn is helping chemoinformatics play its role by managing huge chemical data which is an essence of the drug development.
Owing to the above-mentioned factors, the innovations and advancements in the drug development are directly influencing the chemoinformatics market in a positive way. Other factors that are driving the market include advances in the computer technology and increased demand of the personalized medicine.
Chemoinformatics is majorly used in drug discovery. The well-established companies like Novartis have chemoinformatics software which they use in the drug discovery process.
Developed regions across the globe have higher rate of usage of chemoinformatics software but emerging countries are not yet equipped with such software due to the higher cost. This factor has become one of the major restraining factors for the chemo informatics market in the developing region. However, governments of the developing countries are now implementing new policies regarding the healthcare IT sectors of the respective nations, which might contribute in the cost reduction of chemo informatics tools.
Lack of skilled professionals is another factor responsible to hinder the growth of this market.
Major Developments in the Market
- Agilent Technologies completed acquisition of ULTRA scientific assets.
- Bio-Rad Releases KnowItAll 2018 Chemistry and Spectroscopy Software, Featuring Advanced Stereochemical Recognition.
- Dassault Systemes
- Agilent Technologies
- Bio-Rad Laboratories
- BioSolveIT GmbH
- Cerep Inc.
- ChemAxon Inc.
- Chemical Computing Group Inc.
- Jubilant Biosys Inc.
- Molecular Discovery Ltd.
- OpenEye Scientific
- Schrdinger Inc.
Key Topics Covered
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Chemoinformatics Market Overview
6. Chemoinformatics Market Dynamics
7. Chemoinformatics Market Segmentation
8. Company Profiles & Competitive Landscape
9. Future of the Chemoinformatics Market
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