Global computational biology market

Computational Biology Market Size, Share, Growth Analysis, By Application(Cellular, Biological Simulation, Drug Discovery, Disease Modeling), By End-User(Academics, Commercial, Pharmaceutical), By Service(In-House and Contract), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35A2634 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 90 | Figures: 76

Computational Biology Market Regional Insights

North America contributes to the largest market share and It is anticipated that will significantly impact the worldwide industry. During the projected period, strong government support for genetically based research, an increase in public-private partnerships, and industry-academia cooperation are anticipated to be favourable factors for regional growth.

Due to government-funded population-based studies and foreign investments, Asia Pacific is expected to experience considerable growth during the projection period. For instance, the New South Wales (NSW) provincial government funds aspiring researchers at the Garvan Institute of Medical Research who are engaged in genetic medicine research each year. Additionally, favourable regional government efforts and policies are anticipated to boost the area market in the ensuing years.

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Global Computational Biology Market size was valued at USD 6880 million in 2022 and is poised to grow from USD 4527.82 million in 2023 to USD 18083.66 million by 2031, growing at a CAGR of 18.89% in the forecast period (2024-2031).

Given the presence of multiple significant competitors, the computational biology market is predicted to become extremely competitive in the near future. Mid-size to smaller businesses are expanding their market presence by releasing new products with lower prices as a result of rising technical breakthroughs and product innovations. Major companies in the market are concentrated on developing new items to extend their product portfolio as well as on implementing collaborative methods to increase their market share. For instance, Genedata, AG released Genedata Imagence 2.0, the most recent iteration of its corporate software for high-content screening (HCS) image analysis, in May 2020. 'Certara', 'Insilico Biotechnology AG ', 'Strand Life Sciences', 'Thermo Fisher Scientific Inc.', 'Illumina, Inc.', 'Qiagen N.V.', 'PerkinElmer Inc.', 'Agilent Technologies, Inc.', 'Dassault Systemes', 'Genedata AG', 'Biomax Informatics AG', 'Compugen Ltd.', 'Rhenovia Pharma SAS', 'Chemical Computing Group Inc.', 'Simulation Plus, Inc.', 'InSilico Medicine, Inc.', 'Geneious Biologics', 'Novo Informatics Pvt. Ltd.', 'Precision for Medicine, Inc.', 'Schrödinger, Inc.'

Demand for computational biology is anticipated to increase as better computational tools for genome sequencing become more widely available. Computer programmes assist in creating PCR primers, display restriction enzyme cut sites on any piece of DNA, convert DNA sequences into amino acid sequences, and perform a variety of other tasks. Scientists may now easily get a wealth of information about the structure of genes, their encoded message, and many other topics because to the expanding availability of databases and sequence analysis software. By locating functionally significant protein sequences in these sizable datasets, computational methods improve the efficiency of the drug creation process. For instance, the protein targets found in microbial genomes can be used to destroy diseases or create useful enzymes that can be further commercialised. The computer-based prediction of protein function is the most efficient way for selecting valuable proteins from large genetic databases.

The growing number of clinical studies in the area of pharmacogenomics is the main factor driving the global market for computational biology. This has improved knowledge of the patient population's varied biological make-up, biological pathways, and the genomes that underlie them. Computational biology solutions are in high demand since they shorten the duration of various scientific investigations and the search for new drugs. In addition, a rising need for computational biology in the fields of epigenomics, proteomics, and meta-genomics to understand protein structures and interactions is also boosting the market growth. Additionally, significant technological developments in disease modeling and drug development, as well as increased investments in research and development (R&D) activities by both private and public institutions, are also anticipated.

North America contributes to the largest market share and It is anticipated that will significantly impact the worldwide industry. During the projected period, strong government support for genetically based research, an increase in public-private partnerships, and industry-academia cooperation are anticipated to be favourable factors for regional growth.

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Global computational biology market

Report ID: SQMIG35A2634

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