From GlobeNewswire: 2024-11-07 11:06:00

The Drug Discovery Informatics Market was valued at $3.14 billion in 2023 and is projected to reach $8.12 billion by 2032, with a CAGR of 11.16%. The pharmaceutical and biotechnology sectors are driving demand for innovative solutions to streamline drug development processes.

Companies are integrating AI and machine learning technologies, such as Stanford University’s accelerated drug discovery method and Eurofins Discovery’s DiscoveryAI SAFIRE platform, to enhance precision and efficiency. Google Cloud’s AI-powered solutions are also transforming drug discovery while maintaining data privacy.

The Sequence Analysis Platform segment dominated the market in 2023, accounting for 35% share, due to its role in identifying genetic variations and drug targets. AI and machine learning integration are key drivers, reducing development timelines and enabling personalized treatment approaches.

North America led the market in 2023 with a 39% share, fueled by R&D efforts and advanced analytics tools. Collaborations, like A2i Therapeutics’ partnership with Atomwise, are driving research in oncology and infectious diseases. Insilico Medicine’s FDA Orphan Drug Designation for Idiopathic Pulmonary Fibrosis treatment highlights the market’s growth potential.

Advancements in AI and machine learning, coupled with increased R&D investments and a focus on precision medicine, are propelling the Drug Discovery Informatics Market towards substantial growth. The market’s evolution is reshaping drug discovery processes, offering new opportunities for innovation and collaboration across geographies. The Drug Discovery Informatics Market is thriving due to government support and partnerships between informatics providers and pharmaceutical companies. Key points in the analysis include incidence and prevalence rates, prescription trends, drug volume production, and healthcare spending data. The report also covers market segmentation, regional analysis, company profiles, and best practices. S&S Insider offers detailed market research and consulting services for clients worldwide, providing up-to-date market data and insights for confident decision-making. Access the full report at https://www.snsinsider.com/reports/drug-discovery-informatics-market-2028.



Read more at GlobeNewswire: Drug Discovery Informatics Market Projected to Reach USD