North America Contributed Maximum Share to the Global In-Silico Drug Discovery Market in 2018

 

Drug discovery is used for the identification of the lead structure, which is followed by the synthesis of its analogs, and the latter’s screening to get candidate molecules for drug development. The objective of the drug discovery process is to search for new drug molecules that can bind to a specific target. Further, in the traditional drug discovery process, identifying the suitable drug target is the first and foremost task.

The different steps associated with the in-silico drug discovery process include target identification, target validation, lead identification, lead optimization, pre-clinical studies, and clinical trials. The market for in-silico drug discovery is focused on software, services, and artificial intelligence. Advanced software and informatics deliver far more insight than traditional methods, with a resolution significantly higher than ever before.

According to the market study published by BIS Research, the in-silico drug discovery market was estimated at $2,094.5 million in 2018 and is expected to grow at a CAGR of 12.92% during the forecast period 2019-2029.

The global in-silico drug discovery market was segmented on the basis of end-users, including contract research organizations (CRO), pharmaceutical industry, academic and research institutes, and other end users (hospitals and other care facilities).

Recently, in-silico drug discovery has gained a lot of popularity. The major reason for drug discovery’s popularity is the analysis of data generated from different technologies such as next-generation sequencing and non-invasive or minimally invasive diagnostic technologies. Due to the application of informatics, tools such as data semantics and visual analytics are being used in the industry. The usage of these tools has increased research effectiveness, improved predictability, and fostered effective teamwork among scientists. The pharmaceutical industry contributed the maximum share in 2018 and is expected to dominate the market share in the future as well.

In addition, as per the regional data of the in-silico drug discovery market, North America contributed the maximum to the market. However, it is the region of Asia-Pacific that is expected to grow with the highest CAGR during the forecast period from 2019 to 2029.