The global drug discovery informatics market is projected to reach $4.8 billion by 2030, expanding at a compound annual growth rate (CAGR) of 8.4% from 2023 to 2030.
The growth is attributed to advancements in data analysis and computational methods, which streamline drug discovery processes. Rising adoption of cloud-based solutions and artificial intelligence (AI) technologies further enhance efficiency.
The software component segment accounted for a significant share in 2023 and is expected to continue its growth, reaching $3 billion by 2030. The services component segment is also projected to expand robustly, with a CAGR of 9.5%.
North America dominates the market, with the U.S. contributing significantly in 2023. China is estimated to grow steadily, reaching $824.6 million by 2030. Other key regions, including Japan, Canada, Germany, and the Asia-Pacific, are also experiencing growth.
The report emphasizes the importance of staying informed about emerging trends and technologies, such as AI and machine learning algorithms. This knowledge can help companies identify new revenue streams and capitalize on market opportunities.
• Comprehensive analysis of market dynamics and future growth trends
• In-depth insights into competitive landscapes and key players
• Identification of actionable strategies for enhancing market share
• Complimentary updates for one year to ensure up-to-date information
Jon Napitupulu is Director of Media Relations at The Clinical Trial Vanguard. Jon, a computer data scientist, focuses on the latest clinical trial industry news and trends.
