In-silico drug discovery methods can help in identifying drug targets via bioinformatics tools. In addition, the methods can also be used to analyze the target structures for possible binding active sites. The use of computational methods and computers permeates all aspects of drug discovery and drug design. The methods are facilitating the access of massive amounts of data generated and transforming the extensive complex biological data into useful knowledge for the drug discovery process. These computational tools offer the advantage of delivering new drug candidates more quickly and at a lower cost.
BIS Research's healthcare experts have found the In-silico drug discovery market to be one of the stable markets, and the global market is predicted to grow from $2,129.8 million in 2020 to $6,515.3 million in 2031 and is expected to grow with a CAGR of 10.52% during the forecast period 2021-2031.
Factors fueling the growth of the market include the rising emphasis on reduction in medical errors, technological advancements in the field of computational biology, and the rising adoption of cloud-based applications in drug discovery procedures. New drug compounds have been developed using computational methods successfully. The developments in computational biology have eased the data analytics and analysis phases of sequencing and have resulted in fewer turnaround times and greater accuracy.
Market Segmentation
• Workflow - Discovery, Pre-Clinical Tests, and Clinical Trials
• Products - Software, Software-as-a-Service (SaaS), and Consultancy-as-a-Service
• Technology - Artificial Intelligence, Graphics Processing Unit (GPU), and Other Technologies
• Software - Molecular Modeling and De Novo Drug Design Software, Pharmacophore Modeling Software
• End User - Contract Research Organizations, Pharmaceutical and Biopharmaceutical Companies, Academic and Research Institutes, and Other End Users.
Regional Segmentation
• North America: U.S., Canada
• Europe: Germany, France, Italy, U.K., Spain, Russia, and Rest-of- Europe
• Asia-Pacific: Japan, China, India, Australia, South Korea, and Rest-of-Asia-Pacific
• Latin America: Brazil, Mexico, Rest-of-Latin America
• Rest-of-the-World
Market Growth Drivers
• Rising Emphasis on Reduction in Medical Errors
• Technological Advancements in the Field of Computational Biology
• Integration of Blockchain Technology in Interoperability
• Rising Adoption of Cloud-Based Application for Drug Discovery
Market Challenges
• Lack of High Complexity Testing Centers
• Expensive In-Silico Drug Discovery Procedures and Decline in the Number of Approved Drugs
• High Capital Requirement Hampering the Expansion of Global Reach
Market Opportunities
• Massive Scope for Adoption of In-Silico Drug Discovery in Developing Nations
• Adoption of Artificial Intelligence in In-Silico Drug Discovery
Competitive Landscape
The exponential rise in the prevalence of infectious diseases and various types of cancer globally has created a buzz among companies to invest in advanced technologies such as artificial intelligence.
Based on region, North America holds the largest share, owing to improved healthcare infrastructure, rise in per capita income, and improvised reimbursement policies in the region. However, the Asia-Pacific and Europe regions are anticipated to grow at the fastest CAGR during the forecast period.
Key Companies Profiled
Aragen Life Sciences Pvt. Ltd., Curia Global, Inc., Certara, USA., Charles River, Chemical Computing Group ULC., Collaborative Drug Discovery Inc., Dassault Systemes, e-therapeutics plc., Evotec, Insilico Medicine, Ligand Pharmaceuticals Incorporated, Numerate, Inc., PerkinElmer Inc., Schrödinger, Inc., Selvita, Simulations Plus, Tracxn Technologies, WuXi AppTec
Key Questions Answered in this Report:
• How is each segment of the market expected to grow during the forecast period 2021-2031, and what is the anticipated revenue to be generated by each segment? Following are the segments:
o Workflow (Discovery, Pre-Clinical Tests, and Clinical Trials)
o Products (Software, Software-as-a-Service (SaaS), and Consultancy-as-a-Service)
o Technology (Artificial Intelligence, Graphics Processing Unit (GPU), and Other Technologies)
o Software (Molecular Modeling and De Novo Drug Design Software, Pharmacophore Modeling Software)
o End User (Contract Research Organizations, Pharmaceutical and Biopharmaceutical Companies, Academic and Research Institutes, and Other End Users)
o Region (North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World)
• What are the major market drivers, restraints, and opportunities in the global in-silico drug discovery market?
• What are the underlying structures resulting in the emerging trends within the global in-silico drug discovery market?
• How is each segment of the global in-silico drug discovery market expected to grow during the forecast period, and what will be the expected revenue generated by each of the segments by the end of 2031?
• What are the key developmental strategies implemented by the major players to sustain in the competitive market?
• What are the key regulatory implications in developed and developing regions for in-silico drug discovery?
• Who are the leading players with significant offerings to the global in-silico drug discovery market? What is the current market dominance for each of these leading players?
• What would be the compound growth rate witnessed by the leading players in the market during the forecast period 2021-2031? Which in-silico drug discovery workflow type has the most promising growth?
• What are the major technologies that are employed in the global in-silico drug discovery market? Which is the dominating technology?
• Who are the primary end users of the global in-silico drug discovery market? Which is the fastest-growing end-user segment in the global in-silico drug discovery market?
• Who are the key manufacturers in the global in-silico drug discovery market, and what are their contributions? Also, what is the growth potential of each major in-silico drug discovery manufacturer?
• What is the scope of the global in-silico drug discovery market in North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World? Which in-silico drug discovery technology and end user dominate these regions?
• What are the emerging trends in the global in-silico drug discovery market? How are these trends revolutionizing the diagnostic procedure?
• Which technologies are anticipated to break through the in-silico drug discovery regime?
• Which companies are anticipated to be highly disruptive in the future and why?
• Which regulatory procedures are required to unify the approval process for the emerging in-silico drug discovery market? How will these enhance the reimbursement scenario?
• What are the gaps in regularizing in-silico drug discovery adoption in regular healthcare routines? How are these gaps being tackled?
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Within the research report, the market has been segmented based on workflow, product, technology, software type, end user, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.
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