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Opportunities for Bioinformatics in European Drug Discovery Market
Frost & Sullivan, March 2005
Dwindling Drug Pipelines Strengthen Demand for Tools to Improve Productivity
Pharmaceutical companies are under immense pressure to increase their drug research productivity owing to declining drug pipelines, a lack of recent blockbuster drugs and currently available blockbuster drugs going off patent. Moreover, a large number of drug candidates fail to make it to the final approval phase. As a result, drug discovery companies are compelled to incorporate tools that can improve their productivity and reduce R&D expenditure. Bioinformatics can aid companies in reducing the time involved in drug discovery. As drug discovery companies actively pursue these tools, the bioinformatics market is anticipated to be one of the most exciting segments in the total drug discovery market.
This Frost & Sullivan research offers a comprehensive analysis of the opportunities for bioinformatics in European drug discovery market. The market is subdivided into the following categories - genomics software, proteomics software and information manipulation tools. In addition to detailed insights into market drivers and industry challenges, this study provides strategic growth recommendations.
Pressing Need for Tools to Handle the Colossal Amounts of Research Data
Drug discovery companies are facing a research data overload touching peta bytes (quadrillion bytes). As genomic and proteomic research activities worldwide generate huge amounts of data, scientists find it impossible to actually collect and analyse the data. This threatens to slow down the productivity of drug discovery companies and is the prime force behind the development of bioinformatics tools.
Moreover, bioinformatics can bring together disparate data, which is vital to a variety of research purposes. Varying range of data sets is generated during drug research and the value of a stand-alone data set, such as a bacterial genome, is negligible, notes the analyst of this research. However, the value of a sequenced genome is magnified greatly if other genomes are brought into the same conceptual space for comparison. Thus, scientists’ demand for tools to handle the information overload and the need to integrate data is likely to drive the bioinformatics market.
Growing R&D Investment by European Governments Propels the Market
European governments’ initiative to promote the merits of bioinformatics and an increase in their R&D investments are set to positively influence the market. Greater research efforts by the government along with the adoption of bioinformatics tools by a large number of drug discovery companies to improve their productivity promise substantial growth opportunities for bioinformatics in the European drug discovery market, concludes the analyst.
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