Computational Medicine and Drug Discovery Software Market: Global Industry Analysis and Forecast (2023-2029)

Computational Medicine and Drug Discovery Software Market was valued at US$ 777.75 Mn. in 2022. Global Computational Medicine and Drug Discovery Software Market size is expected to grow at a CAGR of 3.7 % through the forecast period.
Computational Medicine and Drug Discovery Software Market Overview:
Learning more about the diagnosis, process, and treatment of human disease is the goal of a new discipline called computational medicine and drug discovery software. The term "drug discovery" refers to the process of finding new medicines. Additionally, computational medicine helps in the identification of genetic defects, which helps in the identification of illness causes. Computational medicine and drug discovery tools enable the realization of protein-protein interactions as well as protein-ligand interactions, facilitating the identification of therapeutic targets. The Computational Medicine and Drug Discovery Software market is expected to be driven by rising trends in the use of tailored medications, improvements in information technology, and the introduction of quick and dependable computer technologies.
Computational Medicine and Drug Discovery Software Market Snapshot
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Computational Medicine and Drug Discovery Software Market Dynamics:
Market Drivers: The market for computational medicine and drug discovery software is growing as a result of the rising popularity of personalized medicine, the development of information technology, the introduction of speedy and precise computational platforms, and other factors. Utilizing computational and analytical methods to collect and comprehend biological data is known as bioinformatics. Modern biology and medicine depend on it for data management, which raises the demand for bioinformatics.

The software establishes a rational and objective drug attractiveness index, which aids in making the public aware of the advantages of bioinformatics in gene expression and drug development. The development of software applications for straightforward analysis and the growth of the computational medicine and drug discovery software markets are both products of the evolution of bioinformatics, which has been a labor of love. Computer networks were built as a result, enabling simple access to biological data.

Market Restraints:

During the drug approval process, regulatory agencies' chief priorities are safety and efficacy. Although these strategies aid in ensuring the quality of products introduced to the market, they significantly raise the price of developing new drugs and the cost of the finished product. This aspect has a considerable impact on the uptake of a certain treatment in emerging markets that are price sensitive. In addition, a number of laws that guarantee the quality of the product (such as GMP) frequently raise the cost of manufacturing. As a result, the computational medicine and drug discovery software market are hampered.

Market Opportunities:

The time required for drug research and development has significantly decreased as a result of information technology advancements and the introduction of quick and precise computational platforms.

This probably continues to be a market growth driver. Additionally, the market for computational medicine and drug discovery software continues to see growth due to the advancement of bioinformatics in drug discovery, the development of three-dimensional drug discovery techniques, and the prevalence of drug discovery failure in the final stages. Increased participation in research from organizations in different parts of the world, along with rising demand for biotech products, encourages a good outlook for the market.

Market Challenges:

Between experts, there is a sizable knowledge gap about the utilization of various software tools for drug discovery. Because researchers are not trained in digital tools and methodologies, many academic stages lack the use of software tools. Many users, especially those with weak computer skills, dislike manual interventions and protracted installation times. The expansion of the Computational Medicine and Drug Discovery Software Market is hampered by the fact that many researchers in the life sciences and medicine lack sufficient computational understanding and is unable to perform manual treatments.
Computational Medicine and Drug Discovery Software Market Segment Analysis:
Based on Product Type, the software segment held the xx% of market share in 2022. The program uses cutting-edge technologies to accelerate the testing and market introduction of new drugs. It aids in improving image quality and is expected to speed up the otherwise time-consuming process of doctors forecasting illnesses. During the forecast period, the database segment is expected to increase at the second-fastest CAGR. The database aids in electronically delivering well-structured information.

Database suppliers have a great chance to enter these high-potential markets by developing new products that run on cloud and mobile platforms. Due to the engagement of numerous stakeholders and numerous functional departments inside organizations in the research process, where everyone access and utilize the data as needed, the use of cloud data access has increased in popularity. For illustration, the FDA has been provided to the organization. The FDA's post-market drug and therapeutic biologic product safety program, which is driving the market for computational medicine and drug discovery tools, is supposed to help the database.

Based on the Application, the drug discovery & development segment held the xx% of share in 2022. New medications are discovered as a result of the drug development process. The investigation of chemical libraries, such as minute chemicals, natural products, or plant extracts, uses conventional pharmacology. Reverse pharmacology, which is employed in testing to find treatments for existing illnesses, has been possible by the sequencing of human DNA. Disease mechanisms, molecular compound assays, currently used medications with surprising adverse effects, and new technology all help in the drug discovery process.

Drug discovery and development include the following steps: screening hits, medicinal chemistry, and optimization of hits to reduce potential adverse effects by increasing affinity and selectivity. Drug development is a labor and time-intensive process that is also dangerous, which is causing the sector expansion. The second-fastest CAGR is expected for the Predictive Analysis of Drug Targets throughout the forecast period. In the market for medication repurposing, drug-target interaction prediction has become a crucial technique. Numerous researchers were able to create various computational techniques for figuring out unidentified interactions between medication targets that are fueling sector expansion thanks to the availability of heterogeneous biological data on known drug-target interactions.
Computational Medicine and Drug Discovery Software Market, by Offering in 2022 (%)

Computational Medicine and Drug Discovery Software Market Regional Insights:
The North America region dominated the market with xx % share in 2022. The North America region is expected to witness significant growth at a CAGR of xx% through the forecast period.

Owing to the desire for personalized medicine, their value in drug development, and rising research and development costs. The demand for drug discovery research increased as there were more ailments in the United States. As a result of this rise in research, the fields of bioinformatics and customized medical development have grown quickly. The market is likewise being driven by this in turn. The number of pharmaceutical firms and their investments in diverse technologies are both increasing in the United States. According to MMR finding estimate from Seedscientific, there were 2,946 biotech companies operating in the United States.

This is helping the region to hold a significant share of the regional market for computational medicine and drug discovery. During the forecast period, Asia-Pacific is expected to experience the fastest growth. For doing research in the fields of bioinformatics and computational medicine, the area is supporting numerous conceptualized project ideas. Given the significance, a number of projects, in particular those focusing on cancer, tuberculosis and pulmonary diseases, diabetic & cardiovascular diseases, neurological disorders, and methods/drug development, are receiving funding, which is what propels the market for computational medicine and drug discovery software market.

The GDP of the major Asian Pacific nations is increasing quickly. The Asia Pacific telematics in heavy equipment market is expected to be driven by the significant adoption rate of telematics in heavy equipment with various advanced wireless connectivity options, including M2M connectivity, 3G and 4G network, GPS, and Bluetooth across countries, namely China, India, and Japan. To offer integrated solutions to the end-users, heavy equipment manufacturers and telematics service providers are working together.

India is expected to experience the highest CAGR growth among the Asia Pacific nations throughout the forecast period due to the country's increasing use of mobile devices and sensors from Advanced Driver Assistance Systems (ADAS). In China and the Asia Pacific region, the construction sector is anticipated to have the biggest market share. The GCC countries, which were followed by South Africa in terms of market share in the Middle East and Africa, did so as a result of infrastructure growth and the rapid development of wireless communication technologies.

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Global Computational Medicine and Drug Discovery Software Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 777.75 Mn.


Forecast Period 2023 to 2029 CAGR:
3.7%
Market Size in 2029:
US$  1,002.97 Mn.


 Segments Covered:
by Product type
Database
Software


by Application
Drug Discovery And Development
Computational Physiological Medicine
Disease Modeling
Medical Imaging
Predictive Analysis Of Drug Targets
Simulation Software
Cellular Simulation



Computational Medicine and Drug Discovery Software Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Computational Medicine and Drug Discovery Software Market, Key Players are
1. Entelos Inc
2. Crown Bioscience Inc
3. Chemical Computing Group Inc
4. Nimbus Therapeutics Inc
5. Schrodinger Llc
6. Dassault Systemes
7. Genedata Ag
8. Biognos Ab
9. Leadscope Inc
10. Rhenovia Pharma Limited
11. Compugen
12. Instem PLC
13. Roche
14. Certara Lp
15. Acellera ltd.
16. Quantum Benchmark

Frequently Asked Questions:

1] What segments are covered in the Global Market report?
Ans. The segments covered in the Market report are based on Product Type and Application.

2] Which region is expected to hold the highest share in the Global Market?
Ans. The North America region is expected to hold the highest share in the Market.

3] What is the market size of the Global Computational Medicine and Drug Discovery Software Market by 2029?
Ans. The market size of the Computational Medicine and Drug Discovery Software Market by 2029 is expected to reach US$ 1,002.97 Mn.

4] What is the forecast period for the Global Computational Medicine and Drug Discovery Software Market?
Ans. The forecast period for the Computational Medicine and Drug Discovery Software Market is 2023-2029.

5] What was the market size of the Global Computational Medicine and Drug Discovery Software Market in 2022?
Ans. The market size of the Computational Medicine and Drug Discovery Software Market in 2022 was valued at US$ 777.75 Mn.