Increasing applications of the in silico drug discovery technique in genomic and proteomic research and growing demand for cost-effective medicines are among the major factors driving market revenue growth
According to Emergen Research, the global in silico drug discovery market size was USD 2.38 billion in 2019 and is expected to reach USD 6.34 billion in 2027 and register a revenue CAGR of 13.0% during the forecast period, 2020-2027.
The global in silico drug discovery market revenue growth is significantly driven by factors such as advances in in silico drug discovery techniques, increasing applications of these techniques in genomic and proteomic research programs, rapid progress in bioinformatics technology, and rising demand for cost-effective medicines. Growing use of advanced biomarker identification technologies, increasing focus of pharmaceutical companies on reducing readmission rates and medical errors, rise in partnerships and collaborations between leading pharmaceutical companies and academic institutes, and increasing government investments in pharmaceutical research & development activities are other key factors expected to boost revenue growth of the global in silico drug discovery market.
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The in silico drug discovery technique helps in determining new molecules from the molecule library, develop personalized medicine, and identify drug targets in faster and cost-effective ways. The global COVID-19 outbreak and increasing use of the in silico drug discovery technique in COVID-19 detection and treatment have further contributed to the global market revenue growth over the recent past.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Consultancy-as-a-Service Segment Accounted for Largest Revenue Share in 2019:
Based on product type, the consultancy-as-a-service segment accounted for the largest revenue share of 38.0% in the global in silico drug discovery market in 2019. Increasing adoption of consultancy-as-a-service as the de-facto approach to business consultancy, mainly owing to its flexible consumption model for small and medium-sized businesses, is one of the key factors driving the growth of this segment.
Antibodies Molecule Type Segment to Register Fastest Revenue Growth Rate:
Based on molecule type, the antibodies segment is projected to register the fastest revenue growth rate in the global in silico drug discovery market over the forecast period. Factors contributing to the growth of this segment are growing use of antibodies as curative agents in the manufacture of vaccines, unprecedented surge in demand for effective vaccines against the novel coronavirus disease, and rapidly rising cases of COVID-19 worldwide.
Asia Pacific to Account for Fastest Revenue CAGR:
Among regional markets, the Asia Pacific in silico drug discovery market is expected to register the fastest revenue CAGR in the global market over the forecast period. Rising prevalence of chronic and acute diseases, increasing patient pool, growing need for cost-effective medicines, and increasing applications of the in silico drug discovery technique in genomic and proteomic research are major factors expected to drive revenue growth of the Asia Pacific market. Rapidly advancing healthcare infrastructure, increasing healthcare expenditures of the population, and presence of major players in the region are further expected to drive the regional market revenue growth.
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Major Companies in the Market Include:
- Certara USA, Inc.
- Albany Molecular Research Inc.
- Chemical Computing Group ULC
- Charles River
- Dassault System (Biovia)
- Collaborative Drug Discovery Inc.
- Evotec A.G.
- ICAGEN, Inc.
- GVK Biosciences Private Limited
- Novo Informatics Pvt. Ltd.
For the purpose of this report, Emergen Research has segmented the global in silico drug discovery market based on workflow, product type, molecule type, end-use, and region:
Workflow Outlook (Revenue, USD Billion; 2017-2027)
- Target Identification
- Reverse Docking
- Protein Structure Prediction
- Target Validation
- Lead Discovery
- Library Design
- Preclinical Tests
- Clinical Trials
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Software-as-a-Service (Cloud)
Molecule Type Outlook (Revenue, USD Billion; 2017-2027)
- Nucleic Acids
End-use Outlook (Revenue, USD Billion; 2017-2027)
- Pharmaceutical Industry
- Contract Research Organizations
- Academic and Research Institutes
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Region Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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