CHEMINFORMATICS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Cheminformatics Market Size and Trends

The global cheminformatics market size is expected to reach US$ 10.22 billion by 2030, from US$ 3.79 billion in 2023, at a CAGR of 15.2% during the forecast period. The increasing demand for new drugs and the rising need for efficient drug discovery and development are the major factors driving the growth of the cheminformatics market.

Cheminformatics is a multidisciplinary field that combines chemistry, computer science, and information science to store, manage, and analyze chemical data. It is used in various applications, such as drug discovery, chemical safety, and environmental analysis.

Figure 1. Global Cheminformatics Market Share (%), by Region, 2023

Figure 2. Global Cheminformatics Market Share (%), by Application, 2023

Cheminformatics Market Trends

• Integration with artificial intelligence and machine learning: Artificial intelligence and machine learning are disrupting drug discovery workflows. AI algorithms can predict the properties of compounds, identify promising leads, and design focused libraries for screening. ML improves virtual screening accuracy by training on experimental bioactivity data. For instance, deep learning neural networks can learn complex molecular interactions. Integrating AI and ML with cheminformatics enhances the productivity and reduces time taken in initial screening phases. For instance, in February 2022, Elix, Inc., an AI drug discovery company, developed kMoL, a machine learning library for AI drug discovery with federated learning functionally.
• Adoption of cloud-based solutions: Pharmaceutical companies are increasingly adopting cloud-based cheminformatics platforms over on-premise solutions. The scalability, flexibility, and affordable pricing offered by cloud platforms provide advantages over traditional software. Cloud solutions enable accessing centralized databases, advanced simulation capabilities, and computational resources through the internet. Companies can avoid the large upfront costs associated with on-premise installations. Smaller companies also gain access to enterprise-level solutions using the cloud.
• Use of real world evidence: Real-world data from clinical practice, such as electronic medical records, patient registries, and insurance claims, provides valuable insights. Cheminformatics software can integrate real world evidence with clinical trial data to support drug discovery decisions. It enables a better understanding of disease profile in diverse patient populations. The demand for real world evidence integration will rise as payers increasingly focus on effectiveness in patient populations outside clinical trials.
• Emergence of contract research organizations: Biopharmaceutical companies are increasing outsourcing drug discovery activities to cut costs and improve efficiency. Contract research organizations (CROs) provide services spanning hit identification, lead optimization and preclinical development using informatics platforms. CROs invest in the latest cheminformatics and bioinformatics solutions to offer niche services to clients. Small companies also benefit from accessing advanced technologies through outsourcing partnerships with CROs.