Computational Biology Market by Services (Contract, In-house), Application (Cellular Biological Simulation, Clinical Trials, Drug Discovery & Disease Modelling), End-Use - Global Forecast 2024-2030

Computational Biology Market by Services (Contract, In-house), Application (Cellular Biological Simulation, Clinical Trials, Drug Discovery & Disease Modelling), End-Use - Global Forecast 2024-2030

The Computational Biology Market size was estimated at USD 6.25 billion in 2023 and expected to reach USD 7.42 billion in 2024, at a CAGR 18.91% to reach USD 21.01 billion by 2030.

Computational biology is an interdisciplinary domain that applies techniques from computer science, applied mathematics, statistics, and bioinformatics to solve complex problems in biology, understand biological data, and model biological systems. It encompasses the development and application of theoretical methods and data-analytical, computational simulation techniques, and mathematical modeling to the study of biological, behavioral, and social systems. The primary aim of this technology is to generate insights into the principles and dynamics of biological systems, as well as to predict their behaviors and interactions. Computational biology is closely related to the field of bioinformatics but tends to focus more on the development of theoretical approaches and computational models. The computational biology market is driven by the increasing need for drug discovery and personalized medicine, advancements in the field of bioinformatics, and the rise in the volume of complex biological data. Government and private funding for research and development in genomics and proteomics also support the market expansion. Despite growth prospects, the need for specialized computational infrastructure, high costs associated with computational tools, and a shortage of skilled professionals to analyze biological data hinder the scope of computational biology. Moreover, concerns regarding data security and privacy and the complexity of regulatory compliances for healthcare-related data create hurdles in market proliferation. However, an integration of artificial intelligence and machine learning algorithms is further presenting lucrative opportunities for market growth by enhancing predictive modeling and data analysis capabilities. Moreover, the rising focus on biomarker discovery and its role in precision medicine opens up new opportunities for the market's expansion.

Regional Insights

The computational biology market in the Americas, particularly in North America, is exhibiting robust growth. The presence of established pharmaceutical companies, sophisticated healthcare infrastructure, and rigorous research and development activities are propelling the region's market expansion. Large-scale investments in genomics and proteomics are further spurring demand for computational biology solutions. The United States remains at the forefront, backed by supportive government policies, substantial academic-industry collaborations, and an increase in bioinformatics-related courses that supply skilled professionals to the field. The EMEA region has been experiencing a significant surge in the computational biology market owing to increased funding by private and public entities, particularly in Europe. Efficient regulatory frameworks for drug development and a tradition of excellence in scientific research are driving the market's progress in this region. Germany, the UK, and France are major contributors with their strong focus on biotechnology and computational sciences. The Middle East is steadily catching up, largely due to strategic government investments in the biotech sector, while Africa is in the early stages of development. Asia-Pacific is emerging as a dynamic growth hub for the computational biology market. Rapid economic development, increasing healthcare expenditure, and a burgeoning biotechnology industry characterize the market landscape. Countries in the region are providing lucrative opportunities for market players owing to governmental backing, a focus on education and research in the life sciences, and a rising emphasis on personalized medicine. Cross-border collaborations and the inflow of foreign investments are further defining this market, positioning APAC as a competitive and high-potential region.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Computational Biology Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Rising Need for Personalized Medicine
    • Growing Bioinformatics Research and Increasing Number of Clinical Studies
    • Adoption of Computational Biology in Oncology Therapeutics
    • Market Restraints
      • Dearth of Skilled Professionals to Operate Computational Tools
      • Market Opportunities
        • Accelerating Use of Bioinformatics and Multiscale Biological Modeling in Cell Modeling
        • Increased Funding in Bioinformatics Coupled with Advancements in the Field of Computational Biology
        • Market Challenges
          • Insufficiency of Interoperability and Multiplatform Capabilities and Lack of Well-Defined Standards
          • Market Segmentation Analysis
            • Services: Benefits of in-house computational biology capabilities to handle sensitive data or proprietary research
            • Application: Significant applications of computational biology to streamline the drug development pipeline
            • End-Use: Growing adoption of computational biology in commercial entities to tackle applied research challenges
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Computational Biology Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Computational Biology Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • New Funds Available for Early Career Canadian Researchers Building Careers in Bioinformatics, Computational Biology, or Health Data Sciences
              
              Genome Canada announced its collaboration with the Canadian Institutes of Health Research (CIHR), specifically with the Institutes of Aging, Cancer Research, Genetics, Infection and Immunity, and Musculoskeletal Health and Arthritis, in launching the 2024/25 Health Research Training Platform (HRTP). This initiative, bolstered by partnerships with the Centre for Research on Pandemic Preparedness and Health Emergencies and Mitacs, aims to nurture a diverse group of trainees and early career researchers through interdisciplinary training platforms. With a commitment of USD 6,050,000 for the bioinformatics, computational biology, and health data sciences pool, these funds are dedicated to offering substantial support to a single project that demonstrates potential for profound impact.
              
              Pluto Announces USD 3.7M Seed Round, Led by Silverton Partners
              
              Pluto announced a significant milestone with the completion of a USD 3.7 million seed financing round, led by Silverton Partners, aimed at propelling the evolution of biological data assessment and multiplying the pace of discoveries within the life sciences domain globally. Boasting an intuitive web-based interface, Pluto's computational biology platform is at the forefront of enhancing researcher capability in the analysis, visualization, and interpretation of complex biological information.
              
              Accenture Invests in Ocean Genomics to Accelerate AI-driven Drug Discovery and the Development of Personalized Medicines
              
              Accenture PLC has strategically enhanced its technological footprint through an investment in Ocean Genomics via Accenture Ventures' Project Spotlight. Ocean Genomics specializes in computational platforms powered by artificial intelligence, revolutionizing the biopharmaceutical sector's approach to diagnostics and drug development. Their innovative solutions delve into the intricate world of mRNA, enabling the prediction of individual responses to medical treatments with greater accuracy.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Computational Biology Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Computational Biology Market, highlighting leading vendors and their innovative profiles. These include Agilent Technologies, Inc., BGI Group, Biomax Informatics AG, Chemical Computing Group Inc., Compugen Ltd., Dassault Systèmes SE, DNAnexus, Inc., DNASTAR, Inc., Eurofins Scientific SE, Genedata AG, Illumina, Inc., Insilico Medicine, Instem Group, Nimbus Discovery Llc, Ocean Genomics, PerkinElmer, Inc., Pluto Bioinformatics, ProFound Therapeutics, QIAGEN N.V., Rosa & Co. Llc, Schrodinger, Inc., Simulation Plus Inc., SOPHiA GENETICS, Thermo Fisher Scientific Inc., Waters Corporation, and WuXi NextCODE.
            
            Market Segmentation & Coverage
            
            This research report categorizes the Computational Biology Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Services
              • Contract
              • In-house
              • Application
                • Cellular Biological Simulation
                • Clinical Trials
                • Drug Discovery & Disease Modelling
                • Human Body Simulation Software
                • Preclinical Drug Development
                • End-Use
                  • Academics
                  • Commercial
                  • Region
                    • Americas
                      • Argentina
                      • Brazil
                      • Canada
                      • Mexico
                      • United States
                        • California
                        • Florida
                        • Illinois
                        • New York
                        • Ohio
                        • Pennsylvania
                        • Texas
                        • Asia-Pacific
                          • Australia
                          • China
                          • India
                          • Indonesia
                          • Japan
                          • Malaysia
                          • Philippines
                          • Singapore
                          • South Korea
                          • Taiwan
                          • Thailand
                          • Vietnam
                          • Europe, Middle East & Africa
                            • Denmark
                            • Egypt
                            • Finland
                            • France
                            • Germany
                            • Israel
                            • Italy
                            • Netherlands
                            • Nigeria
                            • Norway
                            • Poland
                            • Qatar
                            • Russia
                            • Saudi Arabia
                            • South Africa
                            • Spain
                            • Sweden
                            • Switzerland
                            • Turkey
                            • United Arab Emirates
                            • United Kingdom
                            
                            
                            Please Note: PDF & Excel + Online Access - 1 Year