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Global Drug Discovery Software Market to Register 14% CAGR with Cost-Effective Solutions by 2025

 

The global Drug Discovery Software market valued at ~$2 billion in Next five years and is expected to grow at a CAGR of ~14% to cross $3.5 billion by 2025, driven by growing R&D spending across the world, need for cost-efficiency & faster time-to-market, stringent regulatory compliance/reporting, growing use of AI & ML in drug discovery, and rising demand for novel software solutions specifically designed for biologics/cell & gene therapy. 

The life science industry is rapidly evolving and is increasingly looking for software solutions to research and innovate in the most efficient and accurate way possible. The drug discovery software market (such as ligand-based design, structure-based design, LIMS, ELN, etc.) is driven by the increasing R&D spend and pipeline, expanding scope and scale, increasing stringency of testing and regulations, growing number and size of biotechs, need for increasing cost efficiencies and reducing time to market, and move towards web/cloud-based software.

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Drug Discovery Software Market – Niche but Fast-Growing Market

The drug discovery software market is niche and growing rapidly, driven by the rising pressure on the pharma and biotech companies to cut costs in the research and preclinical stage of drug development, reduce timelines and improve transparency through deep learning software tools.

“Large players present in this segment are trying to consolidate the market by becoming a one stop shop. Moreover, companies are also considering to combine their solutions with bioinformatics and LIMS tools to have a competitive edge.” - Executive, Leading Drug Discovery Software Provider, US

Increasing Focus on Developing AI/ML platforms for Drug Discovery

The life sciences industry is increasingly recognizing the benefits offered by big data and AI/ML in drug discovery. Big data combined with AI/ML is facilitating data point generation in incomplete and often noisy datasets, reducing the need for complex experiments limited by output capacity or costs. Several AI/ML developments could be seen recently that are expected to disrupt the current drug discovery landscape. For instance, in Mar 2021, insitro, a ML-driven drug discovery and development company raised $400 million in a Series C financing. In 2020, Optibrium launched Cerella, an AI software platform for drug discovery.

Rising Demand for Software Solutions Specifically Designed for Biologics

With rapidly expanding research on advanced therapies like cell and gene therapies and healthy CGT pipeline, there is robust demand for software solutions to maximize process and workflow efficiencies across services. Biologics are expected to experience strong growth in the drug discovery phase. 50% of drugs currently in the preclinical phase are biologics. To leverage growth opportunities, companies are entering/expanding into biologics software space.

Transition to Web/Cloud-based Software

With the growing need for data sharing across and between organizations, traditional on-premise installations face challenge to survive in a data-driven world. On-premise systems lack scalability and easy integration, are often time-consuming and costly to implement and manage. The drug discovery software industry is slowly moving towards web/cloud-based solutions as it can address most of these issues with quick deployment, minimum upfront costs, high flexibility and scalability making it affordable for even small and medium size pharma/biotechs, academic research/universities and CROs.

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Competitive Landscape: Drug Discovery Software market

The global drug discovery software market is highly competitive and fragmented. Some of the key players include Dassault Systèmes, LabVantage, PerkinElmer, Schrodinger, Abbott, Healx, Optibrium, Instem, Chemical Computing Group, dotmatics, idbs, Titian, Biovia, Celsius, Genome Biologics, Molsoft, Openeye, BullFrog AI, Atomwise, Owkin, Standigm, insitro, AbCellera, Recursion and CytoReason.

 About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.

Contact:

Ruta Halde
 Associate, Medi-Tech Insights
 +32 498 86 80 79
 info@meditechinsights.com 

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