Patent expiry of blockbuster drugs, an over-reliance on high throughput discovery strategies, and ongoing industry consolidation through mergers and acquisitions (M&A) are fueling the demand for drug discovery informatics. Few of the market growth factors include a worldwide rising focus on drug discovery, growing need to control drug discovery and development costs, rising research and development (R&D) expenditure, and increasing burden of chronic diseases. For instance, according to the Association of the British Pharmaceutical Industry (ABPI), the global pharmaceutical industry invested more than USD 1.36 trillion in R&D from 2007 to 2016, and it is projected to an annual investment of USD 181 billion by 2022. In contrast, high pricing and setup cost of informatics software is anticipated to limit the market growth during the forecast period.
The global Drug Discovery Informatics Market held a value of USD 1,680.6 million in 2017 and is projected to grow at a CAGR of 11.5% over the forecast period. Drug discovery and development is an extremely complex process requiring the generation of very large amounts of information data and. As the pharmaceutical and biotechnology industry is on the rise, information technology is supporting the drug discovery process to improve research productivity and success rates.