Global Computational Biology Market Size, Trends and Growth Opportunity, by Application (Cellular & Biological Simulation, Drug Discovery & Disease Modelling, Preclinical Drug Development, Clinical Trials, Human Body Simulation Software), by Services (In-house, Contract), by End Use (Academics & Research, Commercial): Global Opportunity Analysis and Industry Forecast, 2022-2027.
Global Computational Biology Market
Global Computational Biology Market was valued at USD 4.12 million in 2022 and is slated to reach at USD 12.94 million by 2027 at a CAGR of 21.84% from 2022-2027.
Computational biology referred as development and application of data analytical and theoretical methods, computational simulation, and mathematical modeling techniques which are used for study of biological systems. This is multifaceted field and that combines the principles of applied animation, computer science, anatomy, biophysics, biochemistry, ecology, and genomics. Also, computational biology includes bioinformatics and the science of using biological data to develop algorithms to understand biological systems and its relationships.
Market Drivers
Increase in number of clinical studies and in pharmacokinetics and pharmacogenomics for new drug discovery and development is considered as key driving factor which is expected to boost the global computational biology market growth. Furthermore, increase in demand for predictive models and funding from governments and private enterprises for research and development activities will positively contribute the market growth. Moreover, increase in use of computational tools in epi-genomics, genomics, proteomics, and meta genomics to understand 3D protein structural analysis, gene sequencing coupled with research activities in new drug designing process which expected to drive the market growth.
Market Restraints
However, lack of trained professionals is the major restraining factor which is expected to hinder the global computational biology market growth.
Impact of COVID-19
The market for computational biology has been impacted by the COVID-19 epidemic. Governments all across the world have imposed severe restrictions, including border locks, lockdowns, and stringent social segregation measures, to stop the spread of COVID-19. These actions had a big effect on the world economy, affecting many different industries. Governments from all around the world are collaborating with pharmaceutical and biotech businesses to combat the COVID-19 outbreak, from fostering the creation of vaccinations to preparing for issues with the distribution of medical supplies.
Recent development
April 2022- 30 newly hired employees, including six newly hired employees based in India and one newly hired employee based in Japan, received non-statutory stock options to purchase a total of 101,715 shares of the company's common stock, according to a press release from Schrödinger, Inc. (Nasdaq: SDGR), whose physics-based software platform is revolutionising the way therapeutics and materials are discovered.
Ajinomoto, a global supplier of cell culture media and development and manufacturing services (CDMO) to the biopharmaceutical industry, has implemented Genedata Bioprocess® to digitalize and automate their R&D and manufacturing operations in Japan and Korea, according to Genedata, the leading provider of enterprise software solutions for the biopharmaceutical research and development industry.
Market segmentation
Global Computational Biology Market is segmented into services such as In-House, and Contract, by application such as Human Body Simulation Software, Preclinical Drug Development, Cellular & Biological Simulation, Clinical Trials, and Drug Discovery & Disease Modeling. Further, market is segmented into end user such as Academics, and Commercial.
Regional Analysis
Also, Global Computational Biology Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market key Players
Various key players are discussed in this report such as Genedata AG, Chemical Computing Group Inc., Nimbus Discovery Plc., Simulation Plus Inc, Dassault Systems, Compugen Ltd., Insilico Biotechnology AG, and Leadscope Inc.
Market Taxonomy
By Service
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