Market Trends of Chemoinformatics Industry
Virtual Screening Segment is Expected to Witness Growth in the Market Over the Forecast Period
Virtual screening using cheminformatics approaches became a major tool for identifying leads in drug discovery. Virtual screening can filter unwanted compounds from libraries based on criteria such as solubility and ADMET properties. It can also be used to screen large in silico libraries to identify compounds with desired properties and to gather preliminary information for experimental high-throughput screening. Virtual screening methods include docking calculations if the target structure is known and structural similarity searches if the ligand is known but the target structure is unknown. Quantitative structure-activity relationship (QSAR) modeling if neither structure is known.
The advantages of virtual screening are responsible for propelling segment growth. For instance, according to the report published by Frontiers in Chemistry in April 2021, virtual screening strategies innovated the discovery of new bioactive molecules. It was done by evaluating large libraries of compounds in silico, favoring the analysis of their chemical space, pharmacodynamics, and pharmacokinetic properties. It reduced the financial effort, infrastructure, and time of discovering new chemical entities.
Furthermore, the new advancements in virtual screening are expected to boost the market segment's growth. For instance, the report published by IDTechEx in June 2021 stated that AI in structure-based virtual screening is receiving significant attention from investors as structure-based virtual screening is the leading form of AI in drug discovery. Thus, with new advancements in the segment, the market is expected to grow over the study period.
North America is Expected to include Significant Share in the Market Over the Forecast Period
North America is expected to include a significant share in the market over the forecast period owing to increased funding in biotechnology sectors. It is to accelerate drug discovery, new approvals and launches of various platforms, and the presence of many key players in the region. For instance, in July 2022, Dotmatics launched its small molecule drug discovery solution in the United States. It is an integrated scientific R&D platform with pre-configured workflows and expanded data management capabilities. The Small Molecule Drug Discovery Solution promotes greater collaboration and productivity among research teams, reduces operational inefficiencies, and speeds the process of taking data from insights to decisions. These are expected to boost the market over the study period.
Furthermore, the new collaborations and acquisitions among the region's market players help address various challenges in cheminformatics. For instance, in December 2022, Chemical Computing Group (CCG), headquartered in Montreal, Canada, acquired Discngine SAS. By combining Discngine's technical science capabilities with CCG's market leadership in molecular modeling software, CCG can accelerate the development of life sciences solutions to address key customer challenges, expected to increase the market's growth.
