The global Computational Biology Market is estimated to be valued at US$ 6.6 Bn in 2023 and is expected to exhibit a CAGR of 17.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Computational biology involves the development and application of data-analytical and theoretical methods, mathematical modeling and computational simulation techniques to the study of biological, behavioral, and social systems. It is a multidisciplinary field that aims to develop systems-level understanding of biological systems. Computational biology helps researchers to analyze large biological data sets for understanding disease mechanisms and discovering new drug targets.
Market key trends:
The increasing applications of computational biology in the drug discovery process is one of the major trends in the market. Computational biology techniques are widely used at various drug discovery stages including target identification, hit discovery, lead optimization and validation. It helps in predicting interactions between target proteins and small molecule compounds which facilitate drug design with desired effectiveness and safety profiles. Another key trend is the development of cloud-based platforms for computational biology. The availability of high performance cloud computing services is enabling researchers to process large genomic and protein datasets for bioinformatics analysis and modeling tasks that require extensive computational power.
Segment Analysis
The global computational biology market is segmented by type, application, component, and end user. Based on type, the market is segmented into services and software. The software segment is expected to dominate the market owing to the increasing availability of open-source platforms for computational biology and genomic data analysis.
Key Takeaways
The Global Computational Biology Market Size is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing demand for data integration and analysis of complex biological data.
Regional analysis
North America is expected to dominate the market owing fastest adoption of novel technologies. The Asia Pacific region is expected to grow at the highest CAGR during the forecast period due to increasing R&D investments and heavy demand for genomics research in China and India.
Key players operating in the computational biology include Accelrys, Certara, L.P., Chemical Computing Group Inc., Compugen, Ltd., Entelos, Inc. (Rosa & Co. LLC), Genedata AG, Insilico Biotechnology AG, Leadscope, Inc., Nimbus Discovery LLC, Rhenovia Pharma SAS, Schrodinger, and Simulation Plus, Inc. Key players are focusing on new product approvals and strategic collaborations to expand their presence and gain higher market shares.
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