Market Size of Chemoinformatics Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 6.10 Billion |
| Market Size (2029) | USD 10.90 Billion |
| CAGR (2024 - 2029) | 15.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Cheminformatics Market Analysis
The Chemoinformatics Market size is estimated at USD 6.10 billion in 2024, and is expected to reach USD 10.90 billion by 2029, growing at a CAGR of 15.5% during the forecast period (2024-2029).
The pandemic positively impacted the cheminformatics market. The outbreak of the COVID-19 pandemic pushed the pharmaceutical industry into action, with a race to develop both therapeutic and preventive drugs. Cheminformatics approaches are one set of tools in the computational toolbox that can be applied to therapeutic discovery. Therefore, cheminformatics played an important role in drug discovery during the pandemic. For instance, according to the report published by the Journal of Cheminformatics in March 2021, the computational chemistry and cheminformatics community was actively involved in COVID-19 research and the rapid onset of computational research on COVID-19. Therefore, such instances indicated considerable growth in the market during the pandemic. Since COVID-19 research studies are still being conducted, there will likely be a continued demand for cheminformatics in the coming years.
The innovations and advancements in the drug development process and increased demand for personalized medicine are the major drivers for the market. Innovations and advancements in the drug development process are prominent market drivers. For instance, according to the Frontiers in Chemistry journal published in June 2021, cheminformatics became an integral part of drug discovery. It accelerated the search for new chemicals with desired physicochemical, pharmacological, toxicological, and pharmacokinetic properties. These are anticipated to propel the market growth over the forecast period.
Furthermore, the new collaborations among the market players increase the widespread applications in cheminformatics. For instance, in March 2021, Elsevier entered a new collaboration with LexisNexis Legal & Professional. It was to strengthen the existing patent coverage in Reaxys, its information solution for chemistry R&D. The content expansion in Reaxys further cements its position as a comprehensive cheminformatics solution by ensuring companies and researchers do not miss key competitive intelligence insights. These are expected to significantly impact the market over the forecast period.
However, a lack of skilled laborers is expected to hinder the market growth over the forecast period.
Cheminformatics Industry Segmentation
As per the scope of the report, chemoinformatics involves computer applications to develop chemical data. With the help of chemoinformatics, the study of chemical structures and storage and analysis of the chemical data can be done easily.
The Cheminformatics Market is segmented by application and Geography. By application, the market is segmented by chemical analysis, drug discovery and validation, virtual screening, and other applications. The report also covers the market sizes and forecasts for the cheminformatics market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).
| By Application | ||||||
| ||||||
| Drug Discovery and Validation | ||||||
| Virtual Screening | ||||||
| Other Applications |
| Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Chemoinformatics Market Size Summary
The cheminformatics market is poised for substantial growth, driven by its critical role in drug discovery and the increasing demand for personalized medicine. The COVID-19 pandemic acted as a catalyst, highlighting the importance of cheminformatics in accelerating therapeutic development. This surge in demand is further fueled by innovations in drug development processes, where cheminformatics has become integral in identifying new chemicals with desirable properties. Collaborations among key industry players, such as those between Elsevier and LexisNexis, have expanded the applications of cheminformatics, enhancing its utility in research and development. Despite the promising growth trajectory, the market faces challenges, particularly the shortage of skilled professionals, which could impede its expansion.
The market's growth is also supported by advancements in virtual screening techniques, which have revolutionized the identification of lead compounds in drug discovery. These techniques, including docking calculations and quantitative structure-activity relationship modeling, have streamlined the process of discovering new chemical entities, reducing costs and time. North America is expected to hold a significant market share, bolstered by increased funding in biotechnology and the presence of major industry players. The region's market dynamics are further strengthened by strategic collaborations and acquisitions, such as Chemical Computing Group's acquisition of Discngine SAS. The competitive landscape is characterized by a mix of international and local companies, with key players like Dassault Systemes and BioSolveIT GmbH leading the market. Recent developments, such as Cadence Molecular Sciences' agreement with Pfizer Inc. and Vox Biomedical's AI-based chemical identification project, underscore the ongoing innovation and investment in the cheminformatics sector.
Chemoinformatics Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.2.1 Innovations and Advancements in the Drug Development Process
-
1.2.2 Increased Demand of Personalized Medicine
-
-
1.3 Market Restraints
-
1.3.1 Lack of Skilled Labors
-
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Bargaining Power of Suppliers
-
1.4.2 Bargaining Power of Buyers/Consumers
-
1.4.3 Threat of New Entrants
-
1.4.4 Threat of Substitute Products
-
1.4.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION (Market Size by Value - USD)
-
2.1 By Application
-
2.1.1 Chemical Analysis
-
2.1.1.1 Chemical Databases
-
2.1.1.2 Chemometrics
-
2.1.1.3 Molecular Modelling
-
2.1.1.4 Other Chemical Analysis
-
-
2.1.2 Drug Discovery and Validation
-
2.1.3 Virtual Screening
-
2.1.4 Other Applications
-
-
2.2 Geography
-
2.2.1 North America
-
2.2.1.1 United States
-
2.2.1.2 Canada
-
2.2.1.3 Mexico
-
-
2.2.2 Europe
-
2.2.2.1 Germany
-
2.2.2.2 United Kingdom
-
2.2.2.3 France
-
2.2.2.4 Italy
-
2.2.2.5 Spain
-
2.2.2.6 Rest of Europe
-
-
2.2.3 Asia-Pacific
-
2.2.3.1 China
-
2.2.3.2 Japan
-
2.2.3.3 India
-
2.2.3.4 Australia
-
2.2.3.5 South Korea
-
2.2.3.6 Rest of Asia-Pacific
-
-
2.2.4 Middle East and Africa
-
2.2.4.1 GCC
-
2.2.4.2 South Africa
-
2.2.4.3 Rest of Middle East and Africa
-
-
2.2.5 South America
-
2.2.5.1 Brazil
-
2.2.5.2 Argentina
-
2.2.5.3 Rest of South America
-
-
-
Chemoinformatics Market Size FAQs
How big is the Chemoinformatics Market?
The Chemoinformatics Market size is expected to reach USD 6.10 billion in 2024 and grow at a CAGR of 15.5% to reach USD 10.90 billion by 2029.
What is the current Chemoinformatics Market size?
In 2024, the Chemoinformatics Market size is expected to reach USD 6.10 billion.
