Cheminformatics refers to the use of computer and informational techniques applied to problems in chemistry. It includes drug discovery and design, computational biology, and theoretical organic chemistry. Cheminformatics is widely used during drug discovery process in activities like compound screening, lead identification, lead optimization and pharmacophore modeling. It aids in virtually screening large chemical compound libraries to identify hits based on specified structural and physicochemical properties, reducing costs and timelines associated with wet lab screening. The global cheminformatics market is estimated to be valued at US$ 8.85 Bn in 2024 and is expected to exhibit a CAGR of 15.50% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The opportunity for discovery of new drug molecules is driving the growth of cheminformatics market. Cheminformatics tools and techniques allow rapid virtual screening of millions of compounds from chemical libraries to identify potential drug candidates. This facilitates identifying hits early in drug discovery process and optimizing lead compounds. For instance, pharmacophore modeling enables understanding interactions between drugs and their biological targets at molecular level, aiding novel drug design. Also, integration of artificial intelligence and machine learning has made compound screening more effective and accurate. This is allowing pharmaceutical companies to discover new molecules for treating complex diseases with high unmet need like cancer. Increased R&D investment in drug discovery and technological advancements in cheminformatics are expected to present lucrative growth opportunities for market players over the forecast period.

Porter’s Analysis

Threat of new entrants: The cheminformatics market requires significant capital investments in R&D, infrastructure and trained professionals. Thus, the threat of new entrants is moderate.

Bargaining power of buyers: The bargaining power of buyers is moderate as there are many established players offering similar cheminformatics solutions and services. However, switching costs are low.

Bargaining power of suppliers: Suppliers have moderate bargaining power owing to low differentiation in their services and commoditization of offerings. However, few suppliers have technical expertise.

Threat of new substitutes: Threat of substitutes is low as cheminformatics solutions provide scientific data through specialized software for drug discovery that is difficult to substitute.

Competitive rivalry: The competitive rivalry is high due to presence of many global and regional players offering similar solutions. Players differentiate based on customer experience, technology capabilities, service portfolio and price.

SWOT Analysis

Strengths: Established global presence, robust R&D capabilities, expertise in machine learning and AI, large drug pipelines.

Weaknesses: Heavy reliance on skilled professionals, pressure on margins due to pricing pressure, compliance with regulatory requirements.

Opportunities: Growth in drug discovery activities, investments in AI and cloud adoption, expansion in emerging markets.

Threats: Stringent regulations, data security risks, economic slowdowns impacting R&D spends.

Key Takeaways

The Global Cheminformatics Market Growth is expected to witness high over the forecast period of 2024 to 2031 supported by increasing adoption of in silico tools for drug discovery programs.

Regional analysis shows that North America dominated the market in 2024 owing to presence of major players and high R&D expenditure. Asia Pacific is expected to grow at the fastest pace during the forecast period supported by expanding biotech industry and generic drug manufacturing.

Key players operating in the cheminformatics market are Amgen Inc., F. Hoffmann-La Roche Ltd, Johnson & Johnson Services, Inc., Pfizer Inc., Sanofi, Eli Lilly and Company, AbbVie Inc., Novo Nordisk A/S, Bristol-Myers Squibb Company, NanoString, QIAGEN, Affimed GmbH, GSK plc., Merck KgaA, and Teva Pharmaceutical Industries Ltd. Major players are focused on partnerships, M&As and new product launches to expand their service portfolios and geographic footprints.

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https://www.marketwebjournal.com/cheminformatics-market-demand-and-growth-analysis/ 

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