Global Drug Discovery Software Market is set to grow at a CAGR of 14% to reach $3.5 billion by 2025

BRUSSELS - June 20, 2022 - PRLog -- The drug discovery software market (such as ligand-based design, structure-based design, LIMS, ELN) is driven by the growing R&D spend and pipeline, expanding scope and scale, increasing stringency of testing and regulations, rising number and size of biotech companies, demand for increasing cost efficiencies and reducing time to market, and move towards web/cloud-based software.

Global Drug Discovery Software Market – Emerging but Fast-Growing Market

The drug discovery software market is niche and is growing significantly, driven by the growing pressure on the pharmaceutical and biotechnology 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, United States

Focus on Developing AI/ML platforms for Drug Discovery Sgement

The life sciences market is increasingly recognizing the benefits offered by big data and AI/ML in drug discovery industry. Several AI/ML innovations could be seen recently that are expected to disrupt the global drug discovery landscape. For instance, in Mar 2021, insitro, a ML-driven drug discovery and development company raised $400 million. In 2020, Optibrium launched Cerella, an AI software platform for drug discovery.

Growing Demand for Software Solutions Specifically Designed for Biologics

Biologics are expected to experience a significant growth in the drug discovery phase. 50% of drugs currently in the preclinical phase are biologics. To leverage emerging growth opportunities in this space, companies are entering and expanding into biologics software space.

Transition to Web/Cloud-based Software

The drug discovery software market is slowly moving towards cloud-based solutions as it can address most of the issues with on-premise installations and provide 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.

Competitive Landscape Analysis: Drug Discovery Software Market

The global drug discovery software market is highly competitive and fragmented. Some of the top operating market players are Dassault Systèmes, LabVantage, PerkinElmer, Schrodinger, Abbott, Healx, Optibrium, Instem, Chemical Computing Group, dotmatics, idbs, Titian, Biovia, Celsius, Genome Biologics, Atomwise, Standigm, insitro, and CytoReason.

Explore Detailed Research Insights on Drug Discovery Software Market @ https://meditechinsights.com/drug-discovery-software-market/