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The Global Drug Discovery Market to Showcase Growth at a CAGR of ~8% by 2027 | DelveInsight

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New York, USA, March 21, 2023 (GLOBE NEWSWIRE) — The Global Drug Discovery Market to Showcase Growth at a CAGR of ~8% by 2027 | DelveInsight

The drug discovery market is expanding rapidly, owing primarily to the rising prevalence of chronic and rare diseases such as cancer, cardiovascular disease, diabetes, and sickle cell anemia, among others. Furthermore, increasing R&D expenditure and investments in the development of novel drug molecules, the presence of a robust number of pipeline products across the globe, a surging number of biologics and generic drugs, increasing new drug launches and approvals, the presence of key players and CRO’s in the market, and others will create a demand for drug discovery services in the market.

DelveInsight’s Drug Discovery Market Insights report provides the current and forecast market analysis, individual leading drug discovery companies’ market shares, challenges, drug discovery market drivers, barriers, and trends, and key drug discovery companies in the market.

Key Takeaways from the Drug Discovery Market Report

  • As per DelveInsight estimates, North America is anticipated to dominate the global drug discovery market during the forecast period. 
  • Notable drug discovery companies such as Existencia, Evotec, Curia Global, Inc., Laboratory Corporation of America Holdings., GenScript, Thermo Fisher Scientific Inc., Charles River Laboratories., WuXi AppTec, Dalton Pharma Services, Oncodesign, Jubilant Biosys Ltd., IBM Corporation, Numedii Inc, Deep Genomics, NVIDIA Corporation, Pharmaron, Domainex, TCG Lifesciences Pvt. Ltd., Cloud Pharmaceuticals Inc, Alphabet Inc (DeepMind), and several others are currently operating in the drug discovery market.
  • In March 2023, Iktos, a company that specializes in artificial intelligence for new drug discovery, announced the completion of a € 15.5 million Series A financing led by new investors M Ventures and Debiopharm Innovation Fund, with participation from Omnes Capital.
  • In February 2023, Lantern Pharma Inc., a clinical stage biopharmaceutical company that uses its proprietary RADR® artificial intelligence (“AI”) and machine learning (“ML”) platform to transform the cost, pace, and timeline of oncology drug discovery and development, announced product roadmap expansions and updates that will enhance its oncology drug discovery capabilities.
  • In December 2022, TG Therapeutics, Inc. got approval for BRIUMVI™ (ublituximab-xiiy) injection, a new drug molecule for treating relapsing forms of multiple sclerosis.
  • In September 2022, CytoReason entered a multi-year partnership with Pfizer to use CytoReason’s artificial intelligence technology for Pfizer’s drug development program. 
  • In January 2022, Evotec and Boehringer Ingelheim formed a target, and drug development collaboration focused on iPSC-based disease modeling for ophthalmologic illnesses.

To read more about the latest highlights related to the drug discovery market, get a snapshot of the key highlights entailed in the Global Drug Discovery Market Report

Drug Discovery Overview

Drug discovery is the process of discovering novel candidate pharmaceuticals in the fields of medicine, biotechnology, and pharmacology. Historically, medications were discovered by identifying the active ingredient in traditional cures or by chance, as was the case with penicillin. Chemical libraries of synthesized small molecules, natural products, or extracts were screened in intact cells or complete organisms to identify compounds with a desirable therapeutic effect in a method known as classical pharmacology. After the human genome was sequenced, which enabled quick cloning and synthesis of large quantities of purified proteins, it became common practice to use high throughput screening of sizable compound libraries against isolated biological targets that are hypothesized to be disease-modifying, a process known as reverse pharmacology.

Drug Discovery Market Insights

North America dominated global drug discovery in 2021 and will continue to do so throughout the forecast period of 2022–2027. This can be attributed to the region’s increasing demand for drug discovery among patients due to the region’s increasing prevalence of various chronic diseases. Furthermore, various strategic steps by key players are expected to boost the drug discovery market in North America. For example, CytoReason entered a multi-year partnership with Pfizer in September 2022 to use CytoReason’s artificial intelligence technology in Pfizer’s drug development program. Collaborations between key market players in the United States to implement AI technology in drug discovery are expected to drive the growth of the drug discovery market in this region.

Moreover, biosimilars have great potential in the region because they are more expensive, more effective, and have fewer side effects. TG Therapeutics, Inc. received approval in December 2022 for BRIUMVITM (ublituximab-xiiy) injection, a new drug molecule used to treat relapsing forms of multiple sclerosis. Many other new drug entities, such as lenacapavir, adagrasib, olutasidenib, and others, were approved by the US FDA in 2022.

To know more about why North America is leading the market growth in the drug discovery market, get a snapshot of the Drug Discovery Market Outlook 

Drug Discovery Market Dynamics

The high capital investment in the drug discovery and development process may be one of the key factors influencing the growth of the drug discovery market. Following the conventional method of drug discovery and development consumes 12-14 years before a final product reaches the market for end users. Another factor driving the drug discovery market is the increasing prevalence of chronic diseases such as cancer, cardiovascular disease, diabetes, hemoglobin diseases, and rare diseases. Moreover, the rapid growth of the pharmaceutical industry is also expected to drive the drug discovery market in the coming years. The biopharmaceutical industry is rapidly expanding due to increased government and corporate investments in developing new medicines to treat chronic diseases. Furthermore, favorable government regulations, combined with the active role of authorities such as the FDA and EMA, are fueling drug discovery market growth.

However, large capital investments with low profit margins, stringent government regulations approval process, and other factors may slow the growth of the drug discovery market.

Additionally, during the COVID-19 pandemic, the drug discovery market was positively impacted. During the COVID-19 pandemic, almost all countries’ healthcare systems invested heavily in research and development to combat the virus. In clinical trials, various potential compounds from the CHEMBL, ZINC, and FDA-approved drugs and molecules were screened. In addition, research teams around the world were identifying new molecules or drugs for the treatment of COVID-19 by screening both novel and existing drugs for their ability to alleviate symptoms and halt viral replication. As a result of the increased demand for research and development for COVID-19 drugs and vaccines, the demand for the drug discovery market increased significantly, propelling the drug discovery market growth.

Get a sneak peek at the drug discovery market dynamics @ Drug Discovery Market Dynamics Analysis

Report Metrics Details
Coverage Global
Study Period 2019–2027
Base Year 2021
Drug Discovery Market CAGR ~8%
Projected Drug Discovery Market Size by 2027 USD 97 Billion
Key Drug Discovery Companies Existencia, Evotec, Curia Global, Inc., Laboratory Corporation of America Holdings., GenScript, Thermo Fisher Scientific Inc., Charles River Laboratories., WuXi AppTec, Dalton Pharma Services, Oncodesign, Jubilant Biosys Ltd., IBM Corporation, Numedii Inc, Deep Genomics, NVIDIA Corporation, Pharmaron, Domainex, TCG Lifesciences Pvt. Ltd., Cloud Pharmaceuticals Inc, Alphabet Inc (DeepMind), among others

Drug Discovery Market Assessment

  • Drug Discovery Market Segmentation
    • Market Segmentation By  Workflow: Target Identification & Screening, Target Validation & Functional Informatics, Lead Identification & Candidate Optimization, Preclinical Development, and Others
    • Market Segmentation By  Drug Type: Small Molecule Drugs and Biologic Drugs
    • Market Segmentation By Technology: High Throughput Screening, Pharmacogenomics, Combinatorial Chemistry, Nanotechnology, and Others
    • Market Segmentation By Service Provider: Pharmaceutical Companies, Contract Research Organizations (CROS), and Others
    • Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
  • Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View

Which MedTech key players in the drug discovery market are set to emerge as the trendsetter explore @ Drug Discovery Companies 

Table of Contents 

1 Report Introduction
2 Executive summary
3 Regulatory and Patent Analysis
4 Key Factors Analysis
5 Porter’s Five Forces Analysis
6 COVID-19 Impact Analysis on Drug Discovery Market
7 Drug Discovery Market Layout
8 Global Company Share Analysis – Key 3-5 Companies
9 Drug Discovery Market Company and Product Profiles
10 Project Approach
11 About DelveInsight

Interested in knowing the drug discovery market by 2027? Click to get a snapshot of the Drug Discovery Market Trends

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About DelveInsight

DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance.  


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Automotive Digital Cockpit Domain Controller Power Expected to Double by 2030

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NEW YORK, March 28, 2024 /PRNewswire/ — The lengthening lifecycle of vehicles is driving automotive Original Equipment Manufacturers (OEMs) to plan several years of customer support through regular Over-the-Air (OTA) updates. Achieving this requires a digital Cockpit Domain Controller (CDC) with an architecture that supports long-term updating and maintenance. According to a new report from global technology intelligence firm ABI Research, the computing power of the CDC will increase significantly over the next few years, with graphical computing power and deep-learning processing power (for AI-powered functions) expected to double by 2030 for an average mid-market CDC.

OEMs are beginning to plan for several years of support, both in software patches and bug fixes, and for delivering new added value features to the driving experience. “This support and feature roadmap requires a hardware and software architecture that supports the continuous updating of vehicles over time. OEMs need a system that accommodates quick, targeted updates by shipping vehicles with planned overhead in computing power, software containerization, and robust hypervisors. These can be accommodated by silicon vendors such as NVIDIA or Qualcomm with their suite of high-powered System-on-Chips (SoCs), along with hypervisor and software specialists such as Blackberry QNX. The ecosystem hasn’t fully adjusted to OTA updates in mixed-criticality systems like the digital cockpit domain controller yet, with most OEMs speculating about the level of computing power that is needed for several years of support and few going to their silicon and tier-one partners with roadmaps of planned features,” explains Abu Miah, Smart Mobility and Automotive Analyst at ABI Research.
The computing power of the CDC will increase significantly over time. The Tera Floating-Point Operations per Second (TFLOPS) of an average mid-market CDC is expected to rise from 1 TFLOPS in 2023 to 2.5 TFLOPS by 2030. Miah adds, “One of the primary drivers of this increase is the implementation of a larger number of higher resolution screens in the vehicle to accommodate new high-end gaming and video-on-demand features.”
Building a ‘future-proofed’ CDC is not as simple as throwing compute power at the vehicle. “OEMs, tier ones, and silicon vendors must all work toward an ecosystem of hardware and software agnosticism, modular architecture, and collaborative software development if they are to match customers’ expectations of updates, patches, and bug fixes from the consumer electronics space,” Miah concludes.
These findings are from ABI Research’s Future-Proofing Digital Cockpit Domain Controllers application analysis report. This report is part of the company’s Smart Mobility and Automotive research service, which includes research, data, and ABI Insights. Based on extensive primary interviews, Application Analysis reports present an in-depth analysis of key market trends and factors for a specific technology.
About ABI Research
ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.
ABI Research是一家全球性的技术情报公司,拥有得天独厚的优势,充当终端市场公司和技术解决方案提供商之间的桥梁,通过提供独家研究和专业性指导,推动成功的技术实施和提供经证明可吸引和留住客户的战略,无缝连接这两大主体。
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
Contact Info: 
GlobalDeborah Petrara Tel: +1.516.624.2558 [email protected] 
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ACL Digital in Collaboration with AWS and Infineon to Participate at Embedded World 2024

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SAN JOSE, Calif., March 28, 2024  /PRNewswire/ — ACL Digital, an ALTEN group company, is a pioneer in design-led digital experience, innovation, enterprise IT modernization, and product engineering services, announced that ACL Digital, in collaboration with AWS and Infineon, is going to showcase its AWS IoT & Cloud capabilities at Embedded World 2024, Hall 4 (Booth #4-552) from April 9 to April 11 in Nuremberg, Germany.

ACL Digital, a top-tier AWS Services partner, propels organizations of all sizes to navigate digital transformation to accelerate time-to-market. The company provides comprehensive support, from adopting to modernizing IT infrastructure on AWS. By leveraging expertise in architecture, security, migration, and operations, ACL Digital unlocks the full potential of AWS, streamlining IoT and cloud journeys and fast-tracking business growth and innovation.
The AWS Advanced Tier partnership enables ACL Digital to leverage AWS expertise, its robust support ecosystem and best practices to deliver customer delight.
ACL Digital offers visitors at Embedded World 2024 a chance to experience the exclusive demo of a Smart Stove Solution, built by leveraging the AWS Cloud and Infineon platform and how it has added value to our customers.
With over 100 AWS-certified experts, ACL Digital empowers clients to achieve breakthrough results in their digital transformation. Also, the leading digital transformation company supports global clients in navigating the complexities of cloud implementation, migration and digital transformation with ease and helping them unlock new growth opportunities.
About AWS
Since 2006, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud. AWS has been continually expanding its services to support virtually any workload, and it now has more than 240 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, media, and application development, deployment, and management from 105 Availability Zones within 33 geographic regions, with announced plans for 12 more Availability Zones and four more AWS Regions in Malaysia, New Zealand, Thailand, and the AWS European Sovereign Cloud. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit https://aws.amazon.com .
About Infineon
Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The company has around 58,600 employees worldwide and generated revenue of about €16.3 billion in the 2023 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY). To learn more about Infineon, visit https://www.infineon.com/
About ACL Digital
ACL Digital an ALTEN Group Company, is a digital product innovation and engineering leader. We help our clients design and build innovative products (AI, Cloud, and Mobile ready), content and commerce-driven platforms, and connected, converged digital experiences for the modern world through a design-led Digital Transformation framework.
Headquartered in Silicon Valley, ACL Digital is a leader in design-led digital experience, innovation, enterprise modernization, and product engineering services converging to Technology, Media & Telecom. The company has a workforce of 57,000+ spread across more than 30+ countries.

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Gilbarco Veeder-Root champions fuel efficiency, clean fuels and diesel rebate solutions in mining

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JOHANNESBURG, March 28, 2024 /PRNewswire/ — Global leader in technology solutions OEM Gilbarco Veeder-Root (GVR) is dedicated to enhancing operational performance by delivering comprehensive end-to-end wetstock, industrial, mining, and business-to-business solutions, all tailored to meet the specific needs of the customer.

 
 
By encompassing every aspect of mining operations, GVR commercial and industrial Middle East and Africa director Westtar Kapito says, “the company is setting new benchmarks for fuel efficiency, safety and sustainability within the mining industry”.
As part of a holistic approach to mining excellence, Kapito explains that Gilbarco’s integrated fuel and fleet management technology solutions are designed to address the multifaceted challenges of the mining industry.
Some of these facets include wetstock control, equipment maintenance and management, fleet management and automation, compliance monitoring and environmental sustainability, as well as driving productivity and profitability through innovation.
In addition, the introduction of Gilbarco’s clean fuel solution exemplifies the company’s commitment to maintaining equipment integrity and performance.
This technology, GVR says, monitors in real-time the status of up to 16 “clean fuels” key performance matrices, thereby ensuring that dirty fuel is flagged and not transferred into mining equipment which would affect engines and injectors and thus lower productivity.
Gilbarco’s comprehensive site automation solutions empower mining companies with critical data analytic insights, facilitating efficient monitoring and management of fleet and fuel inventory. Gilbarco’s dataFLEX360 platform plays a pivotal role, offering near real-time reporting and analytics to drive informed decision-making and operational agility.
dataFLEX360 is a Web-based, cloud-hosted strategic operational insights platform. The system ensures accurate, reliable and relevant reporting of all fuel, fleet and asset transactions, and provides for proactive corrective measures to reduce complex reporting and gives a consolidated and comprehensive view across all sites and assets.
With reconciliations at its core, dataFLEX360 provides solution accuracy on operational data.
Integral to the company’s solutions is compliance with Global Industry Standards and environmental stewardship, from leak detection to vapour recovery and clean fuel technologies. Gilbarco’s products are designed to ensure compliance and minimise the carbon footprint of mining operations.
Additionally, through the company’s innovative telematics technology and the data generated, it can systematically and seamlessly generate South African Revenue Services- (SARS-) compliant fuel rebate reports for any selected tax period.  
GVR’s technology provides a full audit trail required for eligibility for SARS rebates, and its reporting platform simplifies logbook and data gathering required, enabling successful rebate claims and return on investment.
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