PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1460736
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1460736
Market Overview
The worldwide in-silico drug discovery produced a revenue of USD 2,829.7 million in 2023 and is projected to touch USD 5,691.4 million by 2030, growing at a CAGR of 10.6% over the projection period. The development of the industry can be credited to the growing emphasis on decreasing medication mistakes, technical improvements in computational biology, and the rising use of cloud-based applications in drug discovery.
The worldwide in-silico drug discovery market is also propelled by the fast technical advances in the field of computational biology. Computational methods have been effective in the growth of new medicinal molecules.
In addition, advances in computational biology facilitate the simplification of data processing along with analysis phases of sequencing producing shorter turnaround times and accurate results. All the enhancements have triggered a new trend of flexible node optimization and storage integration that major industry leaders are looking into.
Such integration is expected to decrease the amount of transfer data and to solve the queues in data processing, which in principle will eliminate the downlink from the computational analytical community to the ground.
The growing prevalence of cloud control software is one of the main forces driving the in-silico drug discovery market growth. Researchers who study pharmaceuticals can secure access to the amount of computational power that meets their needs because cloud computing provides the opportunity to get almost unlimited computational resources.
Key Insights
In 2023, the AI category led the market with more than 65% share, propelled by augmented data digitization in health care.
Artificial intelligence confronts issues like analyzing multifaceted clinical difficulties and quickening therapeutic target validation in medication discovery.
It helps in the designing of drugs, chemical synthesis, monitoring, polypharmacology, and repurposing, making it essential to numerous stages of drug advancement.
The SaaS category is estimated to advance at a CAGR of around 10.8% in the in-silico drug discovery industry.
Acceptance of SaaS aids in reducing prices and time taken in drug discovery procedures.
SaaS channels are extensively utilized for virtual screening and aim fishing in drug discovery.
Contract Research Organizations are projected to advance at a CAGR of more than 11.0% during the projection period, decreasing costs for businesses in drug development.
Working with a contract research organization provides sponsors not only with an advantage over the traditional clinical studies but also with a quick opportunity to obtain an entire package of trial solutions for the studies to be successful.
The computer application with the largest market resource was introduced in 2021, commonly used for new drug medication designing and in ADME-tox modeling and off-target prediction.
Pharmacophore systematics is usually used concurrently with molecular docking simulations in order to improve the efficiency of virtual screening assays.
In 2023, the North American region help 50% of the worldwide in-silico drug discovery industry share, boosted by the need for treatments for rare illnesses and augmented research and development investments by biopharmaceutical businesses.
The U.S. experienced substantial development in medical and research and development investments, attaining around USD 250 billion in 2020, contributing to industry growth.
The APAC in-silico drug discovery industry has witnessed prominent development, mainly in software-based techs, reinforced by initiatives aimed at advancing patient health.