Computer-aided molecular or in silico design began in the late 1980s. The knowledge of target receptor structures and/or the chemical structure of active small molecules routinely used for discovering and optimizing hit or lead compounds of pharmaceutical interest has become a standard approach in major pharmaceutical and biotechnological research centers.
In 2018, the in-silico drug discovery market was valued at $2.094.5 million. ResearchAndMarket’s recent report, “Global In-Silico Drug Discovery Market,” predicts the market will grow at the rate of 12.92% CAGR in the decade from 2019 to 2029.
Market growth has been primarily attributed to major drivers such as an emphasis on the reduction in medical errors and readmission rates, growth in the biomarker identification market and advancements in in-silico drug discovery techniques, as well as computational technological advancements in the field of computational biology.
However, there are significant challenges that are restraining market growth. These challenges include the high cost of methods and expensive procedures and their applications in medical treatments.
North America is the leading contributor to the in-silico drug discovery market with 41.65% of global market value in 2018. This region is anticipated to grow at a significant CAGR during the forecast period 2019-2029 and continue dominating the global market in 2029. However, the Asia-Pacific region is expected to grow at the highest CAGR of 13.29% during the forecast period. In addition, the region of Europe also contributed a significant share of 28.40% to the global market in 2018.
The in-silico drug discovery research provides a holistic view of the market in terms of various factors influencing it, including regulatory reforms and technological advancements.
A detailed study of the products and manufacturers allied with the service market was used to define the report’s scope. In addition, the study also includes exhaustive information on the unmet needs, perception of the new products, competitive landscape, market share of leading manufacturers, the growth potential of each underlying sub-segment and company, as well as other vital information with respect to the global in-silico drug discovery market.
Key Companies in the Market
The key manufacturers who have been contributing significantly to the global in-silico drug discovery market include Albany Molecular Research Inc., Certara USA, Inc., Charles River, Chemical Computing Group ULC, Collaborative Drug Discovery Inc., Dassault System (Biovia), Evotec A.G., GVK Biosciences Private Limited, ICAGEN, INC., Novo Informatics Pvt. Ltd., Numerate Inc., PerkinElmer Inc, Schrodinger, LLC, Selvita, Simulation Plus, and WuXi AppTec, among others.
Key Questions Answered in the Report
- What are the major market drivers, challenges, and opportunities in the global in-silico drug discovery market?
- What are the underlying structures resulting in the emerging trends within the global in-silico drug discovery market?
- How is each segment of the global in-silico drug discovery market expected to grow during the forecast period and what is the estimated revenue to be generated by each of the segments by the end of 2029?
- What is the expected compound growth rate to be witnessed by the leading players in the market during the forecast period 2019-2029?
- What are the key applications in the global in-silico drug discovery market? What are the major segments of these applications?
- Who are the key manufacturers of the global in-silico drug discovery market, and what are their contributions?
The report is available here.