New York, USA, June 07, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global computer-aided drug discovery market is anticipated to garner a revenue of $7,504.7 million by 2030 and grow at a healthy CAGR of 11.48% over the forecast period from 2022-2030. The extensive report provides a concise layout of the computer-aided drug discovery market’s current framework including prime aspects of the market such as growth elements, challenges, restraints and various opportunities during the predicted timeframe of 2022-2030. The report also provides all the market figures to help new participants analyze the market easily.
Dynamics of the Market
Drivers: The rising cases of chronic and other unknown diseases and the growing R&D activities by scientists and researchers are some factors estimated to drive the growth of the global computer-aided drug discovery market during the forecast period. In addition, increasing strategic alliances among key market players is yet another factor expected to boost the market growth by 2030.
Opportunities: The growing prevalence of cardiovascular diseases among people and the increasing usage of artificial intelligence for drug discovery are some factors predicted to offer abundant growth opportunities for the global computer-aided drug discovery market by 2030.
Restraints: Lack of technical knowledge of computer-aided drug discovery is the major factor projected to impede the market growth.
Covid-19 Impact on the Market
Though the onset of the Covid-19 pandemic has had a negative impact on most industries, the global computer-aided drug discovery market witnessed significant growth. The rising cases of corona virus across the world led to growing R&D activities by researchers, scientists, and biopharmaceutical companies to curb the virus spread. Moreover, the fast transmutation rate of corona virus also motivated scientists to discover an effective drug or treatment. In addition, latest technological advancements were also adopted by multiple companies to further boost the research and development activities.
Segments of the Market
The report has divided the market into multiple segments based on type, therapeutic area, end-user, and regional analysis.
Type: Structure Based Drug Design Sub-segment to be Highly Dominant
The structure based drug design sub-segment is estimated to hold a dominant market share and garner a revenue of $2,471.3 million during the analysis timeframe due to several technological advancements as well as the growing demand for new effective drugs for various diseases. In addition, increasing strategic alliances among key market players to apply structure based drug design for drug discovery is yet another factor anticipated to augment the sub-segment’s growth by 2030.
Therapeutic Area: Oncology Sub-segment to be Highly Progressive
By therapeutic area, the oncology sub-segment of the global computer-aided drug discovery market is expected to have a significant market value and gather a revenue of $1,826.3 million by 2030 since cancer treatments have been one of the major concerns across the globe that needs greater knowledge or understanding of suitable medication required. And the growing demand for effective and affordable cancer treatments is the prime factor predicted to bolster the sub-segment’s growth during the analysis years.
End-user: Pharmaceutical Companies Sub-segment to be Highly Lucrative
By end-user, the pharmaceutical companies sub-segment is projected to have a noteworthy growth rate and surpass $3,018.9 million during the 2022-2030 forecast timeframe due to the several approaches made by researchers to identify different chemical compounds that need to be developed and marketed. Currently, nearly 5,000-10,000 are undergoing laboratory screening before getting approved for human use. These factors are estimated to propel the sub-segment’s growth.
Region: Market in the North America Region to Witness Abundant Growth Opportunities
By region, the computer-aided drug discovery market in the North America region is anticipated to witness abundant growth opportunities and grow at a healthy 10.83% CAGR by 2030. This excellent growth rate is attributed to the rising cancer cases in the US and increasing research activities in hospitals and institutes.
Significant Market Players
Some significant computer-aided drug discovery market players include
- Charles River Laboratories
- Aragen Life Sciences Pvt. Ltd.
- BOCSCI Inc.
- Aris Pharmaceuticals, Inc
- Schrödinger, Inc.
- AstraZeneca
- Bioduro-Sundia
- Albany Molecular Research Inc. (AMRI)
- Bayer AG
These key players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to sustain the market growth.
For example, in February 2021, Sosei Group Corp., a leading pharmaceutical company that engages in the discovery, development, and design of GPCRs, announced its collaboration with Metrion Biosciences Limited, a UK-based pharmaceutical organization to apply ion channels and structure based drug design for the development of new and affordable drugs.
The report also summarizes many important facets including financial performance of the key market players, SWOT analysis, product portfolio, and the latest strategic developments.
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