Chemoinformatics Global Market Report 2024

Chemoinformatics refers to an emerging field within information technology that focuses on the collection, storage, analysis, and manipulation of chemical data. It is particularly employed to examine the relationships between target molecular activity, chemical characteristics, and structure.

The primary domains encompassed by chemoinformatics are chemistry, computer science, and information science. In the realm of chemistry, chemoinformatics aids in comprehending the physical, chemical, and biological characteristics of diverse chemical compounds, with the added benefit of expediting the identification of potential therapeutic targets. Various applications of chemoinformatics include chemical analysis, drug discovery and validation, virtual screening, among others. These applications find utility in sectors such as chemical and pharmaceutical industries, research and academic institutions, and other end-users.

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.

The chemoinformatics market size has grown steadily in recent years. It will grow from $4.28 billion in 2023 to $4.4 billion in 2024 at a compound annual growth rate (CAGR) of 2.8%. The expansion observed in the historic period can be attributed to factors such as high throughput screening (HTS), increased data availability, enhanced efficiency in drug discovery, the emergence of personalized medicine, and the integration of artificial intelligence (AI) and machine learning in the field.

The chemoinformatics market size is expected to see steady growth in the next few years. It will grow to $4.94 billion in 2028 at a compound annual growth rate (CAGR) of 3.0%. The anticipated growth in the forecast period can be attributed to factors such as the integration of biological data, advancements in structural biology, effective data management and security measures, compliance with regulatory standards, and improved efficiency in drug discovery. Key trends expected in the forecast period include the continued use of high-throughput screening, integration of structural biology, biological data mining, the development of virtual chemical libraries, and the ongoing advancement of personalized medicine.

The chemoinformatic market is anticipated to experience significant growth, driven by several key factors. The rising prevalence of chronic diseases is identified as a major catalyst for the growth of this market. Chronic diseases, which require ongoing medical attention and last for a year or longer, are becoming increasingly common. Neglected tropical diseases, in particular, demand new drug discoveries and the exploration of novel chemicals for treatment, for which chemoinformatics is a valuable tool. The World Health Organization projects a significant increase in chronic diseases such as obesity, diabetes, heart diseases, and other noncommunicable diseases between 2020 and 2030. The urgent need for new treatments and drug discoveries to address these health challenges is expected to drive the demand for the chemoinformatic market.

The growing demand for personalized medicine is another factor propelling the growth of the chemoinformatic market. Personalized medicine, which tailors medical treatment based on an individual's unique genetic makeup, relies on the analysis of genetic and molecular data. Chemoinformatics plays a crucial role in this field by facilitating the analysis of complex data to tailor drug therapies, enhancing treatment efficacy and safety. The approval of a significant number of new molecular entities (NMEs), with a substantial portion classified as personalized medicines, underscores the increasing importance of personalized medicine in healthcare. The adoption of chemoinformatic tools to support personalized medicine initiatives is expected to contribute to the growth of the market.

Technological advances represent a key trend in the chemoinformatic market, with major companies developing advanced software and platforms to stay competitive. For example, Optibrium, a UK-based software developer for drug discovery, launched the latest version of its comprehensive software platform, StarDropTM, in January 2021. StarDrop 7.0 incorporates unique artificial intelligence (AI) technology capabilities and extends compound design techniques. The software aims to provide drug discovery scientists with intuitive processes that accelerate discovery cycles, reduce expenses, and focus on generating high-quality compounds. The seamless integration with CerellaTM, Optibrium's AI technology software platform, further enhances the capabilities of StarDrop 7.0, reflecting the trend of leveraging advanced technologies to enhance chemoinformatic solutions in the market.

Major players in the chemoinformatics market are strategically focusing on the development of software equipped with the capability to animate and share 3D chemical structures, aiming to gain a competitive advantage. This kind of software plays a crucial role in visualizing molecular interactions, thereby enhancing research and communication in the field of chemistry. An example of such innovation is seen in the March 2022 release of the latest version of ChemDraw software, V21, by PerkinElmer Inc., a prominent US-based provider of reagents, instruments, assay platforms, and software for medical professionals and researchers. This updated version introduces a significant enhancement by enabling researchers to efficiently generate chemically intelligent Microsoft PowerPoint reports. The key feature of this version is the seamless incorporation, animation, and distribution of 3D chemical structures directly within Microsoft PowerPoint with a single click. This functionality empowers chemists to produce more insightful research reports, facilitating information sharing, collaboration, and real-time decision-making.

In a strategic move, Cadence Design Systems, a US-based computer software company, acquired OpenEye Scientific Software in September 2022 for an undisclosed amount. This acquisition aligns with Cadence's Intelligent System DesignTM strategy, extending its computational software core expertise to molecular modeling and simulation in the life sciences. OpenEye Scientific Software, a US-based software company, specializes in providing molecular modeling and cheminformatics software tools. The acquisition positions Cadence to advance its capabilities in the rapidly evolving field of molecular modeling and simulation, showcasing the integration of software tools crucial for advancing research and innovation in life sciences.

Major companies operating in the chemoinformatics market include ChemAxon Ltd., Jubilant Biosys Inc., BIOVIA, OpenEye Scientific Software Inc., Schrödinger Inc., Advanced Chemistry Development Inc., Scilligence Corporation, Dassault Systemes SE, Chemical Computing Group Inc., Collaborative Drug Discovery Inc., UVJ Technologies, Golden Helix Inc., KNIME.COM Aktiengesellschaft, Simulations Plus Inc., Agilent Technologies Inc., Cambridgesoft Corp., Bio-Rad Laboratories Inc., Molecular Discovery Ltd., Optibrium Ltd., Cresset Group Ltd., Dotmatics Ltd., Genedata AG, Inte:Ligand GmbH, MolPort Inc., PerkinElmer Inc., Cheminformatics LLC, Chemspace, InfoChem GmbH, Molecular Networks GmbH, VLife Sciences Technologies Pvt. Ltd., Xemistry GmbH, Cheminnovation Software Inc.

North America was the largest region in the chemoinformatics market in 2023. 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 countries covered in the chemoinformatics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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.

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.


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