New York, USA, May 11, 2022 (GLOBE NEWSWIRE) -- Research Dive states that the global computer-aided drug discovery market is estimated to garner a revenue of $7,914.2 million by 2028, and rise at a CAGR of 15.0% in the forecast period from 2021 to 2028. The all-inclusive report on computer-aided drug discovery market provides a brief summary of the current market scenario along with the key aspects of the industry, such as significant growth and restraining factors, challenges, and multiple growth opportunities. Besides, the report provides all the estimations of the market, making it easier and helpful for the novel participants to better understand the global market.
Market Dynamics
Analysts at Research Dive states that the growing utilization of artificial intelligence (AI) and machine learning (ML) in drug discovery for polypharmocology, chemical synthesis, and drug screening to study the 3D structure of molecules are the major factors to foster the growth of the global computer-aided drug discovery market over the analysis period. In addition, the rising demand for drug development for various diseases such as cardiovascular, cancer, and others is another factor expected to boost the market growth. Moreover, advancements in the computer-aided drug discovery (CADD) and the usage of AI technology in the integration of CADD are estimated to create massive opportunities for the growth of the global market by 2028. However, the lack of skilled technicians and technical knowledge in CADD are factors expected to restrict the market growth in the estimated timeframe.
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Impact of COVID-19 on the Industry
The COVID-19 outbreak has positively impacted the global computer-aided drug discovery market during the pandemic. The increase in the growth rate of the market is majorly attributed to growing R&D activities among the biotechnological & biopharmaceutical companies, researchers, and scientists to develop an effective drug or treatment COVID-19 treatment. Thus, the importance of research and drug discovery is increasing in the pandemic period, which is driving the market growth.
Structure-based Drug Design Sub-segment to Witness Significant Growth
Based on type, the structure-based drug design sub-segment of the global computer-aided drug discovery market is anticipated to grow at the fastest rate and generate a revenue of $2,539.4 million over the forecast period. Technological advancements coupled with the rising demand for new drugs for several diseases are increasing the demand for structure-based drug design type of CADD.
Cardiovascular Disease Sub-segment to Witness Lucrative Growth
Based on therapeutic area, the cardiovascular disease sub-segment of the global computer-aided drug discovery market accounted for $454.1 million in 2020 and is projected to grow at the fastest rate during the forecast period. This considerable growth in the market can be majorly owing to increasing prevalence of heart diseases around the world. Besides, the growing importance of monitoring work and obtaining data during the development of CVD drugs is another factor predicted to drive the sub-segment growth by 2028.
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North America Region to Dominate in the Industry
Based on region, the North America market for computer-aided drug discovery valued for $991.7 million in 2020 and is projected to dominate in the global industry throughout the forecast period. The extensive growth of the regional market is mainly due to increasing advanced research activities in the field of cancer using CADD in various institutes and hospitals. For instance, the Ohio State University was the first academic medical center in the U.S. to use a new computer-aided system for the colonoscopy screening in patients undergoing testing or treatment at the hospital.
Prominent Market Players
The report presents several aspects of these major players such as strategic moves and business & financial performance of key players, latest developments, SWOT analysis, and product portfolio. Some of the key players of the global computer-aided drug discovery market are:
- Albany Molecular Research Inc. (AMRI)
- BOCSCI Inc.
- AstraZeneca
- Bioduro-Sundia
- Schrödinger, Inc.
- Bayer AG
- Aragen Life Sciences Pvt. Ltd.
- Charles River Laboratories
- Aris Pharmaceuticals.
These players are executing several strategies to gain a dominant position in the global industry.
For instance, in November 2020, Schrödinger, Inc., the scientific leader involved in developing state-of-the-art chemical simulation software for usage in pharmaceutical, materials, and biotechnology research, and Bristol Myers Squibb, an American multinational pharmaceutical company, entered into a research collaboration to discover, develop, and commercialize therapeutics for various diseases.
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Some Trending Article Links:
- Blog: What is the need for Computer-aided Drug Discovery in Today’s World?
- Analyst Review: Global Computer-aided Drug Discovery Market to Rise at a CAGR of 15% and Surpass $7,914.2 Million by 2028, Owing to Increasing Investments in Research Activities
