Innovations and Advancements in the Drug Development Process
In the world of technology, most of the things are made simple and easier with the help of computational tools. Healthcare sector is also booming with the assistance of this technology. 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 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.
Cost Associated With the Chemoinformatics Softwares
Chemoinformatics is majorly used in the drug discovery. The well-established companies like Novartis have chemoinformatics softwares which they use in the drug discovery process.
Developed regions across the globe have higher rate of usage of chemoinformatics softwares but emerging countries are not yet equipped with such softwares 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.
North America Holds the Largest Share in the Chemoinformatics Market
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.
Key Developments in the Market
- Jul 2018: Agilent Technologies completed acquisition of ULTRA scientific assets.
- Apr 2018: Bio-Rad Releases KnowItAll 2018 Chemistry and Spectroscopy Software, Featuring Advanced Stereochemical Recognition.
Reasons to Purchase the Report
- Current and future Chemoinformatics market outlook in the developed and emerging markets
- Analysis of various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in Excel)
- This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs
1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Chemoinformatics Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Product and Services
5.2.5 Degree of Competition
6. Chemoinformatics Market Dynamics
6.1.1 Innovations and Advancements in the Drug Development Process
6.1.2 Advances in the Computer Technology
6.1.3 Increased Demand of Personalised Medicine
6.2.1 Cost Associated With the Chemoinformatics Softwares
6.2.2 Lack of Skilled Labors
6.4 Key Challenges
7. Chemoinformatics Market Segmentation
7.1 By Application
7.1.1 Chemical Analysis
7.1.2 Drug Discovery and Validation
7.1.3 Virtual Screening
7.2 By Geography
7.2.1 North America Chemoinformatics Market Size (2018-2023)
126.96.36.199 United States Chemoinformatics Market Size (2018-2023)
188.8.131.52 Canada Chemoinformatics Market Size (2018-2023)
184.108.40.206 Mexico Chemoinformatics Market Size (2018-2023)
7.2.2 Europe Chemoinformatics Market Size (2018-2023)
220.127.116.11 France Chemoinformatics Market Size (2018-2023)
18.104.22.168 Germany Chemoinformatics Market Size (2018-2023)
22.214.171.124 United Kingdom Chemoinformatics Market Size (2018-2023)
126.96.36.199 Italy Chemoinformatics Market Size (2018-2023)
188.8.131.52 Spain Chemoinformatics Market Size (2018-2023)
184.108.40.206 Rest of Europe
7.2.3 Asia-Pacific Chemoinformatics Market Size (2018-2023)
220.127.116.11 China Chemoinformatics Market Size (2018-2023)
18.104.22.168 Japan Chemoinformatics Market Size (2018-2023)
22.214.171.124 India Chemoinformatics Market Size (2018-2023)
126.96.36.199 Australia & New Zealand Chemoinformatics Market Size (2018-2023)
188.8.131.52 South Korea Chemoinformatics Market Size (2018-2023)
184.108.40.206 Rest of Asia-Pacific
7.2.4 Middle East and Africa Chemoinformatics Market Size (2018-2023)
220.127.116.11 GCC Chemoinformatics Market Size (2018-2023)
18.104.22.168 South Africa Chemoinformatics Market Size (2018-2023)
22.214.171.124 Rest of MEA
7.2.5 South America Chemoinformatics Market Size (2018-2023)
126.96.36.199 Brazil Chemoinformatics Market Size (2018-2023)
188.8.131.52 Argentina Chemoinformatics Market Size (2018-2023)
184.108.40.206 Rest of South America
8. Company Profiles & Competitive Landscape
8.1 Dassault Systemes
8.2 Agilent Technologies
8.3 Bio-Rad Laboratories
8.4 BioSolveIT GmbH
8.5 Cerep, Inc.
8.6 ChemAxon, Inc.
8.7 Chemical Computing Group, Inc.
8.8 Jubilant Biosys, Inc.
8.9 Molecular Discovery Ltd.
8.10 OpenEye Scientific
8.11 Schrödinger, Inc.
*List not Exhaustive
9. Future of the Chemoinformatics Market
- 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
- Schrödinger Inc.