USD 2.4 billion
Report ID:
SQMIG35J2032 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
60
|Figures:
75
Insilico Drug Discovery Market size was valued at USD 0 Billion in 2023 and is poised to grow from USD 0 Billion in 2024 to USD 7.26 Billion by 2032, growing at a CAGR of 10% during the forecast period (2025-2032).
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.
Global Market Size
USD 2.4 billion
Largest Segment
Software-as-a-Service
Fastest Growth
Software-as-a-Service
Growth Rate
10% CAGR
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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.
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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.
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Driver
Increase in Demand for Biomarker Identification
Restraint
Short Lifespan Creates Major Market Challenges
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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.
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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 2023 | USD 0 Billion |
Market size value in 2032 | USD 7.26 Billion |
Growth Rate | 10% |
Base year | 2024 |
Forecast period | 2025-2032 |
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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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.
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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Report ID: SQMIG35J2032
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