Chemoinformatics Market Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Chemoinformatics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The cheminformatics market is steadily gaining momentum, with an expected increase from $4.28 billion in 2023 to $4.4 billion in 2024, resulting in a CAGR of 2.8%. This growth can be linked to advancements in high-throughput screening, improved data availability, enhanced drug discovery efficiency, the rise of personalized medicine, and the integration of artificial intelligence and machine learning.
Global Chemoinformatics Market Size: What Are the Forecasts for Market Growth and Annual Expansion?
The market is anticipated to see steady growth, projected to reach $4.94 billion by 2028, with a CAGR of 3.0%. This growth is attributed to advances in biological data integration, structural biology, data management and security, regulatory compliance, and enhanced efficiency in drug discovery. Trends expected in this sector include high-throughput screening, structural biology integration, biological data mining, the creation of virtual chemical libraries, and advancements in personalized medicine.
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What Are The Key Growth Drivers In The Chemoinformatics Market?
The increasing prevalence of chronic diseases is likely to drive the growth of the market. Chronic diseases, which require ongoing medical attention, are on the rise, necessitating new drug discoveries and innovative chemical treatments. According to the World Health Organization, approximately 500 million individuals are projected to develop chronic diseases such as obesity and diabetes between 2020 and 2030 due to insufficient physical activity. This growing health concern is expected to elevate the demand for chemoinformatic solutions, propelling market growth.
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Who are the Key Industry Players Stepping Up in the Chemoinformatics Market?
Major companies operating in the 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.
What Trends Are Shaping The Growth Of The Chemoinformatics Market Size?
In the chemoinformatics market, companies are focused on creating software that animates and shares 3D chemical structures to enhance research and communication. For instance, PerkinElmer Inc. released an updated version of ChemDraw software in March 2022, enabling researchers to generate chemically intelligent Microsoft PowerPoint reports. This version allows for the seamless incorporation, animation, and sharing of 3D structures, facilitating collaboration and real-time decision-making.
What Are the Different Segments of the Global Chemoinformatics Market?
The chemoinformatics market covered in this report is segmented –
1) By Type: Chemistry, Computer Science, Information Science
2) By Application: Chemical Analysis, Drug Discovery and Validation, Virtual Screening, Other Applications
3) By End User: Chemical and Pharmaceutical Industries, Research and Academic Institution, Other End Users
Geographical Insights: North America Leading The Chemoinformatics Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Definition of the Chemoinformatics Market
Chemoinformatics is an emerging field within information technology that focuses on gathering, storing, analyzing, and manipulating chemical data. It examines the relationships between molecular activity, chemical characteristics, and structure.
The Chemoinformatics Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Chemoinformatics Market Report: Trends, Opportunities, Strategies, and More
The Chemoinformatics Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into chemoinformatics market size, chemoinformatics market drivers and trends, chemoinformatics market major players, chemoinformatics competitors' revenues, chemoinformatics market positioning, and chemoinformatics market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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