According to the latest report by IMARC Group, titled "Computational Biology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global computational biology market reached a value of US$ 3.9 Billion in 2021. Computational biology refers to a branch of biology that involves the application of computer science to study the processes of life. It involves the utilization of various computational methods for the simulation and representation of biological systems on a large scale. Some of the popular adopted methods include algorithms, machine learning (ML), statistical physics, robotics and complexity theory that aid in determining the cellular function and treatment for multiple diseases. As a result, it is extensively used for examining atomic information, such as three-dimensional (3D) protein structure, bio-sequences of DNA, RNA and protein, and gene expression data.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Computational Biology Market Trends:
The global market is primarily driven by the increasing demand for medical drugs. This is supported by the escalating prevalence of chronic diseases due to the sedentary lifestyles led by the masses. Along with this, the rising funding for conducting extensive research and development (R&D) activities to introduce effective and safe therapeutic products that aid in the treatment of acute illnesses is creating a positive market outlook. In line with this, the recent outbreak of coronavirus disease (COVID-19) has further propelled the demand for computational biology worldwide. Additionally, continuous technological advancements, such as the widespread adoption of artificial intelligence (AI) in modern computational biology for predicting the molecular behavior of medical drugs, are favorably impacting the market. Furthermore, the increasing investments by private and public agencies to upgrade the existing healthcare infrastructure is acting as another major growth-inducing factor. Other factors, including the augmenting preference for clinical studies and a considerable rise in the number of research centers, laboratories and educational institutes, are also strengthening the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 12.8 Billion by 2027, exhibiting a CAGR of 22.1% during 2022-2027.
- On the basis of the application, the market has been segmented into cellular and biological simulation (computational genomics, computational proteomics, pharmacogenomics, and others), drug discovery and disease modelling (target identification, target validation, lead discovery, and lead optimization) preclinical drug development (pharmacokinetics and pharmacodynamics), clinical trials (phase I, phase II and phase III) and human body simulation software.
- Based on services, the market has been segregated into in-house and contract.
- On the basis of the end-use, the market has been classified into academics, pharmaceutical industry, and commercial.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Certara, Chemical Computing Group ULC, Compugen Ltd, Dassault Systèmes, Genedata AG, Insilico Biotechnology AG, Instem plc, Nimbus Therapeutics LLC, Schrödinger Inc. and Simulations Plus Inc.
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