USD 2.4 billion
Insilico Drug Discovery Market Size, Share, Growth Analysis, By Product(Software, Software-as-a-Service and Consultancy-as-a-Service), By Technology(Artificial Intelligence and other), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35J2032 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
60
|Figures:
75
Insilico Drug Discovery Market Insights
Insilico Drug Discovery Market size was valued at USD 2.8 billion in 2021 and is poised to grow from USD 3.08 billion in 2022 to USD 6.60 billion by 2031, growing at a CAGR of 10% in the forecast period (2024-2031).
In-silico drug discovery strategies are typically used to locate drug targets using bioinformatics technologies. These techniques can also be used to develop candidate molecules, assess how similar they are to drugs, rank them according to how well they bind to targets, dock these molecules with targets, and further tune them to improve binding properties. One of the key factors anticipated to accelerate the growth and demand of the in-silico drug discovery market is the increase in the volume of drug discovery data. Over the forecast period of 2022 to 2030, it is also anticipated that the rise in the high growth in the biomarker identification field and the increased focus on reducing readmission rates and medical errors would contribute to the growth of the worldwide market. The rapid developments in in-silico drug discovery methodologies as well as computational technical advancements in the field of computational biology are also expected to contribute to the market's expansion. The market for in-silico drug discovery is also anticipated to increase as a result of the cost-effectiveness and high acceptance of in-silico drug designing services.
The in-silico drug discovery market is expected to experience considerable growth prospects from 2023 to 2030 as a result of the quick increase in drug discovery projects, growth in therapeutic area research, and end number of R&D in many pharmaceutical organisations. However, it is anticipated that downward pricing pressure and outsourcing for services will restrain the growth of the in-silico drug discovery market, whilst the availability of open-source software packages for drug discovery may pose a threat to that market's expansion.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Software-as-a-Service
Fastest Growth
Software-as-a-Service
Growth Rate
10% CAGR
Global Insilico Drug Discovery Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
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Insilico Drug Discovery Market Segmental Analysis
The global insilico drug discovery market is segmented on the basis of product, technology, and region. Based on product, the market is segmented into Software, Software-as-a-Service, and Consultancy-as-a-Service. With respect to segmentation by technology, the market is segmented into Artificial Intelligence, and other. Geographically, the market is widespread into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Product
Based on product, the Software-as-a-Service (SaaS) segment is expected to experience the highest CAGR of 11% during the forecast period. This is mainly because these solutions provide decentralisation, real-world data management, and many other functions, assisting users in data mining, data analysis, and decision making. These technologies also assist in reducing the overall expense and time required for the drug discovery process. They are also commonly used for target fishing and virtual screening throughout the drug discovery process.
Analysis by Technology
Based on technology, In 2021, artificial intelligence has a market share of more than 40%. As the rate of data digitization in the healthcare industry rises, AI is being utilized to handle challenges including gathering, evaluating, and applying knowledge to resolve challenging clinical problems. Faster therapeutic target validation and structural design optimization are made possible by artificial intelligence (AI), which mimics human intelligence and can distinguish between hit-and-run compounds. As a result, it is useful during all phases of the drug discovery process, including chemical synthesis, drug design, drug screening, polypharmacology, and drug repurposing.
Global Insilico Drug Discovery Market By Product, 2022 (%)
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Insilico Drug Discovery Market Regional Insights
In 2021, the in-silico drug discovery market in North America maintained the greatest proportion, at around 45%. This is explained by the critical need for drugs to treat rare disorders like Lou Gehrig's disease and cystic fibrosis. Additionally, U.S. biopharmaceutical companies are spending more money on research and development. Around $250 billion was invested in medical and R&D in the United States in 2020. The market's growth is also related to a stronger network between service providers and manufacturers in this area than in any other. Additionally, the U.S. FDA's input has helped in the creation of a flexible regulatory pathway and provided answers to a number of questions regarding the co-development process.
Global Insilico Drug Discovery Market By Geography, 2022-2030
- Largest
- Fastest
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Insilico Drug Discovery Market Dynamics
Driver
Increase in Demand for Biomarker Identification
- The global in-silico drug discovery market is anticipated to have strong growth over the projected period due in large part to developments in the biomarker identification field, the focus on lowering readmission rates and medical errors, computational technical innovations in the field of computational biology, and improvements in insilico drug discovery techniques.
Restraint
Short Lifespan Creates Major Market Challenges
- The In-Silico Drug Discovery market's short lifespan is its one and only restriction. Analysis periods for this technology range from tens to hundreds of nanoseconds, depending on the size of the stimulated systems and the amount of processing required. The problem with this is that the time interval—which can be anything between a few milliseconds and several seconds—is typically too brief to accurately predict protein folding. As a result, there may not be enough protein conformations sampled.
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Insilico Drug Discovery Market Competitive Landscape
The global insilico drug discovery market is highly competitive and somewhat fragmented in nature on account of the presence of multiple players. In an attempt to maintain a competitive edge, the major industry participants are implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also investing heavily on R&D activities.
Top Player's Company Profiles
- Schrödinger, Inc.
- OpenEye Scientific Software, Inc.
- Biovista Inc.
- IBM Watson Health
- Numerate, Inc.
- Certara, L.P.
- XtalPi Inc.
- Cloud Pharmaceuticals, Inc.
- Atomwise, Inc.
- Exscientia Ltd.
- Insilico Medicine, Inc.
- Cyclica Inc.
- Biorelate Limited
- Envisagenics, Inc.
- BenevolentAI Limited
- AI Cure Technologies Inc.
- Genedata AG
- BioSymetrics, Inc.
- Recursion Pharmaceuticals, Inc.
- Numedii, Inc.
Recent Developments
- In March 2022, Insilico Medicine and the University of Zurich collaborated to use Insilico's generative AI technology to discover new cystinosis treatments.
- In January 2022, Insilico Medicine partnered with the Chinese healthcare company Fosun Pharma. Fosun Pharma's clinical development and commercial experience was combined with Insilico's AI-driven, end-to-end drug discovery platform to create a new therapeutic portfolio.
Insilico Drug Discovery Key Market Trends
- The increasing adoption of cloud-based tools is driving the in-silico drug discovery market. Pharmaceutical researchers can scale up or down their computing environment as necessary thanks to cloud computing, which gives them access to practically limitless processing resources. Businesses can more easily adapt solutions to their own requirements. For instance, BT's Cloud Compute life sciences platform can provide specific pharmaceutical applications throughout the value chain, from discovery to commercial operation, ensuring that the required applications are compatible across pipelines rather than requiring all pipeline teams to use the same application.
Insilico Drug Discovery Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our insilico drug discovery market analysis, the global in-silico drug discovery market is anticipated to witness significant growth during the projected period on account of high success rate of developments in the biomarker identification field, coupled with the rise in focus on lowering readmission rates and medical errors. Additionally, computational technical innovations in the field of computational biology, and improvements in insilico drug discovery techniques are also expected to create new growth opportunities for this market in the coming years. North America held the dominant share and likely to continue so during the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 2.8 billion |
| Market size value in 2031 | USD 6.60 billion |
| Growth Rate | 10% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Insilico Drug Discovery Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Insilico Drug Discovery Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Insilico Drug Discovery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Insilico Drug Discovery Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Insilico Drug Discovery Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Insilico Drug Discovery Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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