15 January 2018
The latest analysis, Growth Insights – Global Pharmaceutical Drug Discovery IT Solutions Market, Forecast to 2020, by Frost & Sullivan highlights the growing interest in big data analytics and artificial intelligence (AI)-based solutions.
The study projects that market will reach $5.3 billion by 2020 at a compound annual growth rate (CAGR) of 8.9 percent. It also provides an analysis of key market dynamics, drivers, restraints, forecast and trends, current adoption of IT solutions, market growth opportunities, segments to watch and competitive analysis.
“AI-based platforms play a pivotal role in drug discovery digital and information tools development, especially in lead compound identification, computer-aided drug design and LIMS tools,” says Frost & Sullivan Transformational Health Senior Industry Analyst Piyush Bansal. “Big pharmaceuticals are adopting machine learning and cognitive computing based platforms, and their ongoing efforts will intensify in the near future.”
To survive in a fragmented pharmaceutical IT solutions market, with several small companies and no clear business structure, Bansal recommends that players focus on strengthening their market presence and product portfolios by adopting collaborative partnerships and merger and acquisition strategies.
Further trends driving growth in the global pharmaceutical drug discovery IT solutions market include:
Growth Insights—Global Pharmaceutical Drug Discovery IT Solutions Market, Forecast to 2020 is part of Frost & Sullivan’s Transformational Health Growth Partnership Program.
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