Computational Biology Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Computational Biology Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global computational biology market is expected to grow with a CAGR of 19.27% over the forecast period, 2022-2027.

The COVID-19 pandemic has had an impact on the computational biology market. In addition to expediting the discovery of the genome and protein structure, variant calling, mutation, and other biological aspects of SARS-CoV-2, computational biology is helpful in a variety of other ways as well. Finding proof of the virus's genesis, host, and evolution is made easier with the aid of bioinformatics analysis. In addition, bioinformatics techniques including molecular docking, molecular dynamics simulation, and artificial intelligence (AI) technologies might hasten the discovery of new medications. For instance as per the review article published in March 2021, titled 'Computational strategies to combat COVID-19: useful tools to accelerate SARS-CoV-2 and coronavirus research', The ARTIC network, which has vast experience and skill in using this technology in the sequencing and surveillance of outbreaks, including Zika and Ebola, has created and optimized the SARS-CoV-2 nanopore sequencing procedure. To quickly create SARS-CoV-2 genomes with high accuracy and to monitor COVID-19 transmission as well as viral development over time, nanopore sequencing is used.

Factors that are responsible for the growth of the market include an increase in bioinformatics research, an increasing number of clinical studies in pharmacogenomics and pharmacokinetics, and the growth of drug designing and disease modeling.

Bioinformatics is recognized as part of the essential knowledge base of numerous career paths in biomedical research and healthcare. The field of bioinformatics and computational biology has gone through several transformations over the past 15 years, establishing itself as a key component of new biology. For instance, as per the Department of Biotechnology (DBT) updates from February 2022, The expansion of sequence databases as a result of genome sequencing initiatives has increased the demand for bioinformatics tools and knowledge. Data mining, also known as Knowledge Discovery from Data (KDD), is a subfield of bioinformatics that uses big data analysis to look for trends in data and extract intriguing, nontrivial, implicit, previously unidentified, and potentially relevant information from it. Thus, the increasing research activities in the field of Computational Biology are expected to surge the growth of the market over the forecast period.

Moreover, in March 2022, Compugen Ltd., Israel-based clinical-stage cancer immunotherapy made a presentation at the Keystone Symposium on the subject, Cancer Immunotherapy: Decoding the Cancer Immunity Interactome on exploring the Immune-Tumor Microenvironment (TME) using high resolution single-cell spatial transcriptomics. The presentation demonstrated how the company is using its high-resolution single-cell spatial mapping of immune cells to decipher this complexity and further leveraging its long-term expertise in computational immuno-oncology biology The company has further employed its cutting-edge technology to provide a view into the composition and spatial localization of individual cells in the TME.

Recent improvements in bioinformatics include capacity-building through activities, such as research funding and training opportunities. Increased funding in bioinformatics is helping in creating more advancements in the field of computational biology. For instance, in July 2022, Adrian Woolfson, a former executive at Pfizer and Bristol-Myers Squibb announced a USD 55 million seed funding to reprogram biology and create next-generation genomic products. Therefore, the increased research funding from bioinformatics is expected to boost the growth of the studied market in the years to come.

However, the lack of trained professionals is a major factor hindering the market's growth.

Key Market TrendsIndustry and Commercials Sub-segment is Expected to hold its Highest Market Share in the End User Segment

The commercial segment is expected to be the highest revenue contributor to the market. Rising governmental and commercial sector investments in Research and Development (R&D) in genetic engineering and novel medicine development, significantly contribute to the rise in demand for computational biology.

For instance, as per an update of May 2021, the World Health Organization (WHO) and the Swiss Confederation had signed a Memorandum of Understanding (MoU) to launch the first WHO BioHub Facility as part of the WHO BioHub System. The facility is established in Spiez, Switzerland, and serves as a center for the safe receipt, sequencing, storage, and preparation of biological materials for distribution to other laboratories, and informs risk assessments and supports global preparedness against pathogens. Similarly, the Horizon 2020 program has received significant investment from European Commission, intending to remove barriers to innovation and facilitate better collaboration between public and private sectors for better innovation.

This is expected to support the growing demand for computational biology and thereby drive revenue growth in the market of the segment.

North America Dominates the Market and is Expected to do the Same in the Forecast Period

North America currently dominates the market for computational biology and is expected to continue its stronghold for a few more years. The United States is the leading nation in the field of synthetic biology, which is an emerging discipline involving the creation, control, and reprogramming of biological systems. Since 2005, the United States government has channeled more than USD 1 billion for the development of computational biology and synthetic biology. The annual average expenditure for the development of computational biology, by the United States government, has been estimated to be USD 140 million.

Personalized medicine has increased collaborative efforts between medical institutions, governments, and researchers to swiftly develop effective treatments. For instance, in 2020, Summit Biolabs Inc. and the Colorado Center for Personalized Medicine (CCPM) entered a broad strategic partnership for conducting research, development, and commercialization of saliva liquid-biopsy tests for early cancer detection and diagnosis of COVID-19 and other viral contagions. Similarly, in April 2020, HealthCare Global Enterprises and Strand Life Sciences introduced the StrandAdvantage500, a Next-Generation Sequencing (NGS) based assay that analyzes cancer-relevant genetic alterations from DNA and RNA derived from a patient’s tumor in one integrated workflow. Moreover, In July 2021, Indivumed GmbH announced the launch of travel, a unique AI discovery platform for oncology and precision medicine. The platform combines IndivuType’s deep multi-omics data with elaborate disease models, high-powered automated Machine Learning tools, and a comprehensive suite of advanced analytics tools

The overall market for computational biology in the United States is scheduled to grow manifold, over the forecast period, primarily due to high expenditure on drug development endeavors (highest in the world).

Competitive Landscape

The computational biology market is expected to become highly competitive in the near future, as it consists of several major players. With increasing technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by introducing new products with fewer prices. Companies, like Dassault Systèmes, Chemical Computing Group Inc., Instem Plc. (Leadscope Inc.), Compugen Ltd, and Certara, hold substantial shares in the market.

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