Chemoinformatics Market: Current Analysis and Forecast (2021-2027)

Cheminformatics is a new area of information technology (IT) focused on the collection, storage, analysis, and manipulation of chemical data. Chemical data includes small molecule formulas, structures, properties, spectra, and biological and industrial activities. Cheminformatics helps define archived data logs and depict three-dimensional (3D) molecular structures, further enabling the search and comparison of compounds with specific properties. As a result, it is widely used in the pharmaceutical industry to discover and develop new biotechnology processes and products. Chemoinformatics is being widely utilized in drug discovery & designing, information handling, screening, molecular modelling, analytical chemistry, quantitative structure-activity relationship (QSAR), and also in polymers, food science & material science. The applications of this technique are in chemical data collection, representation, analysis, database designing, structure prediction, and building statistical model.

The rise in the investment in research and development (R & D) projects is driving the demand for chemoinformatics to validate potential drug candidates and effectively manage data generated during molecular and atomic reactions. Moreover, the increasing awareness about personalized medicine is another significant factor driving the market growth gloablly. For instance, in 2012, the number of personalized medicine in the U.S was 81 which increased to 286 in 2020. Furthermore, As the drug development market continues to grow, the demanfor chemoinformatics is expected to increase as it has many uses for drug development at various stages. From targeting to potential drug candidate development, chemoinformatics tools play an important role.

Based on application, the market is classified into drug discovery, chemical analysis, and drug validation. Amongst applications, the chemical analysis category accounted for a significant share of the market. this segment is growing because of the increasing investments in R&D and the relatively low success rate of the potential leads as drug molecules.

Based on end-users, the market is categorized into chemical and pharmaceutical industries, research and academic Institution, and others. Among these, the chemical and pharmaceutical industry is expected to witness the highest CAGR during the forecast period. The growth of this segment is mainly due to the increased demand for personalized medicine, and r&d activities for new drug discoveries.

For a better understanding of the market adoption of the bioreactor market, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the chemoinformatics industry in 2020 owing to the presence of well-established healthcare infrastructure and the huge investment in drug discovery research & development.

Some of the major players operating in the market include Jubilant Biosys, Molecular Discovery Ltd., OpenEye Scientific Software, Dassault Systemes, Agilent Technologies, Bio-Rad Laboratories, Inc., BioSolveIT GmbH, Schrodinger, LLC, ChemAxon Ltd., Golden Helix, Inc.