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New York, Feb. 28, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Chemoinformatics Global Market Report 2023” – https://www.reportlinker.com/p06424029/?utm_source=GNW
, Collaborative Drug Discovery Inc., UVJ Technologies, Golden Helix Inc., The Cambridge Crystallographic Data Centre (CCDC), KNIME.COM AG, and Simulations Plus Inc.
The global chemoinformatics market grew from $4.15 billion in 2022 to $4.31 billion in 2023 at a compound annual growth rate (CAGR) of 3.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The chemoinformatics market is expected to grow to $4.79 billion in 2027 at a CAGR of 2.7%.
The chemoinformatic market includes revenues earned by entities by developing and providing chemoinformatic tools and software used in the data analysis and drug discovery processes by pharmaceuticals.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Chemoinformatic refers to an emerging area of information technology that concentrates on the gathering, storing, analyzing, and manipulating of chemical data. It is further used to analyse the association between the target molecular activity, chemical characteristics, and structure.
North America was the largest region in the chemoinformatics market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the chemoinformatics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of chemoinformatics are chemistry, computer science, and information science.Chemoinformatics is used in chemistry to comprehend the physical, chemical, and biological characteristics of various chemical compounds and to shorten the time needed to find prospective therapeutic targets.
The various applications involved are chemical analysis, drug discovery and validation, virtual screening, and others that are used by chemical and pharmaceutical industries, research and academic institution, and other end users.
The surging prevalence of chronic diseases is expected to propel the growth of the chemoinformatic market going forward.Chronic diseases refer to illnesses that last a year or longer and require ongoing medical attention.
The rising number of chronic diseases such as neglected tropical diseases demands the need for new drug discoveries and the search for novel chemicals for their treatment, for which chemoinformatic is used.For instance, according to the World Health Organization, a Switzerland-based organization for international public health, between 2020 and 2030, 500 million people are expected to develop chronic diseases such as obesity, diabetes, heart diseases, or other noncommunicable diseases (NCDs) due to physical inactivity, if governments globally do no take immediate action to promote exercises.
Therefore, the surging prevalence of chronic diseases is driving the demand for the chemoinformatic market.
Technological advances are a key trend gaining popularity in the chemoinformatic market.Major companies operating in the market are developing software and platforms with advanced technologies to sustain their position in the market.
For instance, in January 2021, Optibrium, a UK-based developer of software for drug discovery launched the latest version of StarDropTM, a comprehensive software platform for small molecule creation, optimization, and data analysis. The latest update, StarDrop 7.0, gives drug discovery scientists access to unique artificial intelligence (AI) technology capabilities while also extending the software’s compound design techniques, delivering improved workflows, and integrating with Optibrium’s CerellaTM platform. Intuitive processes that speed up discovery cycles and cut expenses while focusing on high-quality compounds are provided by StarDrop 7.0’s seamless integration with Cerella, Optibrium’s recently launched AI technology software platform.
In September 2022, Cadence Design Systems, a US-based computer software company acquired OpenEye Scientific Software for an undisclosed amount.The acquisition advances the Cadence Intelligent System DesignTM strategy by extending Cadence’s computational software core expertise to molecular modelling and simulation that is aimed at the life sciences.
OpenEye Scientific Software is a US-based software company providing molecular modelling and cheminformatics software tools.
The countries covered in the chemoinformatics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The chemoinformatics market research report is one of a series of new reports that provides chemoinformatics market statistics, including chemoinformatics industry global market size, regional shares, competitors with chemoinformatics market share, detailed chemoinformatics market segments, market trends, and opportunities, and any further data you may need to thrive in the chemoinformatics industry. This chemoinformatics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06424029/?utm_source=GNW
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