The advancements in the drug development processes and the increasing use of in-silico techniques are considered as the key factors boosting the growth of the global chemoinformatics market. In addition, the rising technological developments in the computer technology is one more essential factor that is expected to accelerate the growth of the market in the near future. Thanks to these factors, the global market is estimated to register a strong growth rate in the next few years. Public organizations, chemical industry, pharmaceutical companies, and academic research are some of the primary end use industries of the global chemoinformatics market.
The North America market for chemoinformatics holds a massive share of the market and is anticipates to register a strong growth rate in the next few years. The rising investments in research and development initiatives and the integration of pioneering technologies are expected to ensure the development of the market in the coming years. In addition to this, the rising lifestyle related disorders and increasing geriatric populations are further estimated to supplement the growth in the near future. Likewise, Asia Pacific market for chemoinformatics is expected to observe a healthy growth in the near future.
The global chemoinformatics market is developing at a rapid rate and enjoys a high level of competition among the key players. Technological developments and the expansion of new products are the primary strategies that are being adopted by the players to gain the competitive advantage. Rise in the number of collaborations is predicted to offer growth opportunities for players in the coming years. Some of the leading players operating in the chemoinformatics market across the globe are ChemAxon, Inc., Chemical Computing Group, Inc., OpenEye Scientific, KNIME.COM AG, Schrödinger, LLC, Accelrys Software Inc., Agilent Technologies, Certara, L.P., PerkinElmer Inc., EPAM Systems, Bio-Rad Laboratories, Inc. and BIOVIA.