Chemoinformatics Market is Estimated to Flourish by 2024. Posted 21_10_10
What is it? Chemoinformatics is defined as the application of computers to develop and process chemical data and is being widely utilized in drug discovery & designing, information handling, screening.
Why Important: The major driving factors which have driven the growth of the market includes the advancements in the drug development process and use of in-silico techniques. Chemoinformatics allows use of combinatorial chemistry to produce vast number of compounds, molecular modelling to improve drug activity; high throughput screening allowing screening of large number of compounds against a target protein, virtual in-vitro and in-silico models which replaces traditional animal testing models.