Market Research Report
Computational Medicine and Drug Discovery Software Market: By Tools (Software, Databases and Others); By Application (Drug Discovery and Development, Disease Modeling, Medical Imaging and Others) & By Geography - 2019-2024
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|Computational Medicine and Drug Discovery Software Market: By Tools (Software, Databases and Others); By Application (Drug Discovery and Development, Disease Modeling, Medical Imaging and Others) & By Geography - 2019-2024|
|Published: December 21, 2018||Content info:||
The computational medicine and drug discovery market is poised to grow at a CAGR of 5.1% during 2017-23 and was valued at $5.88 billion in 2017. The growth will be driven by advancement in bioinformatics and various drug discoveries due to the increase in number of diseases. Bioinformatics has made it possible to integrate and analyze large datasets in developing better treatment for chronic diseases such as cancer and other genetic disorders. Computational physiology medicine attained a revenue of $897 million in 2017. North American region dominates the computational medicine and drug discovery market and generated a revenue of $2,882.9 million and is estimated to rise with a CAGR of 3.7% during 2017-2023.
What is Computational Medicine and Drug Discovery?
Computational Medicine involves a combination of mathematics, engineering and computer science. It is an emerging field which is devoted to develop for understanding the mechanisms, diagnosis and treatment of human disease. The main aim of this field is to develop computational models for molecular biology, physiology, and anatomy of disease, and apply these models to improve patient care.
Drug discovery is process through which new medicines have been discovered. It includes various disciples such as biology, chemistry and pharmacology. Drug discovery is a process which involves the identification of drug target, synthesis, characterization, screening, and assays for therapeutic efficacy.
What are the applications of Computational Medicine and Drug Discovery Software?
Computational medicine and drug discovery software play an important role in the development drugs for various diseases such as cancer and other genetic disorders. Computational medicine also helps to detect the fault in the genes and thus helps to predict the cause of the disease. It is widely used disease monitoring and medical imaging and personalized medicine. Computational medicine and drug discovery software are used to understand the protein - protein interactions as well as protein - ligand interactions which makes it easier to find the drug target.
Nvidia is strategically shifting its focus from computer hardware industry to healthcare industry. It has partnered with companies like GE, Mayo Clinic and Nuance healthcare to define the workflow. They have been developing a computational software which would aid to virtualize all the hospital work and all the different instruments. These computational approaches hold a promise to improve the image quality and help the doctor to predict the diseases which would otherwise take time. They are also focused on developing deep learning in genomics and drug discovery and make way towards personalized medicine.
Fujitsu Laboratories Ltd. and Fujitsu Limited announced the development of molecular simulation technology for drug discovery. This development can accurately estimate binding affinity between the target protein and the chemical substance which helps to predict the drug's efficiency. This technique also estimates the degree of torsion in a chemical substance as well as the impact of neighboring atoms and thus will help in the development of new targeted therapies.
Researchers from KAIST, Korea developed DeepDDI, a computational framework that accurately predicts and generates 86 types of drug-drug and drug-food interactions. These interactions can help us to predict unexpected pharmacological effects such as adverse drug events (ADEs) and other unknown mechanisms. However, the current prediction methods do not provide detailed drug interactions.
In February 2018, Roche acquired oncology tech company Flatiron Health in order to implement the use of artificial intelligence as another tool to facilitate drug discovery and help the company progress. This acquisition with Flatrion Health provided the required technology and data analytics needed for Roche as well as oncology research and development across the industry.
Who are the Major Players in Computational Medicine and Drug Discovery Software market?
The companies referred in the market research report are Compugen Ltd., Certara, L.P., Dassault Systemes, SchrA¶dinger LLC, Genedata AG and several others.
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