New York, USA, Nov. 09, 2020 (GLOBE NEWSWIRE) -- The global computer-aided drug discovery market is expected to garner a revenue of $ 4,878.5 billion million at a CAGR of 15.5% by 2026, increasing from $1,540.4 billion in 2018, as per a report published by Research Dive. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market from growth factors, challenges, other market dynamics, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
Market Dynamics
Importance of decreasing expenses in the healthcare industry, demand for high- quality and affordable drugs, growing number of unknown diseases, off-patented drugs are some of the major factors fueling the market growth. Another factor contributing to the growth of the market includes is the demand for original medicines in many therapeutic applications for cardiac and oncology disorders.
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Ligand-based drug design segment will be the most lucrative
The ligand-based drug design segment garnered the highest revenue of $606.9 billion in 2018. The segment is further estimated to reach $1,878.2 billion by 2026, as per the report. The main reason behind this growth is the extensive usage of the Ligand as the first stage of developing drugs.
Oncology segment will become the most profitable
The oncology segment accounted for the largest market share in 2018 and is further projected to surpass $1,097.7 billion by 2026, growing at a CAGR of 15.1% during the forecast period. The rapid increase in the number of cancer patients is the major attributor of the maker growth.
Research institute segment will earn the highest revenue
The research institutes segment generated a revenue of $602.3 billion and is further predicted to grow at a CAGR of 15.2% during the forecast period. The medical research institutes are performing numerous researches for developing the computer-aided drug discovery market which is propelling the growth of the segment.
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North America region will dominate the market
North America region accounted for $432.9 billion in 2018 which was the dominant share in the industry. The region is further expected to grow at a CAGR of 14.5% during the forecast period, as per the report. The increasing number of pharmaceutical and biotechnology industries in this region as well as the number of drug development processes taking place are acting as the major attributors of the growth of the segment.
Key Market Players
The report enlists the most significant players of the global computer-aided drug discovery market -
- Aris Pharmaceuticals
- BioDuro
- BOC Sciences
- Albany Molecular Research Inc.
- Schrödinger
- Charles River
- Aragen Bioscience
- Evotec A.G.
- Bayers AG
- AstraZeneca
As per a recent news, Monopar Therapeutics Inc. and NorthStar Medical Radioisotopes, LLC (Beloit, WI), announced a partnership with Aragen Bioscience, Inc. in August, 2020. Both the companies are collaborating on the development of urokinase plasminogen activator receptor targeted radio-immuno-therapeutics (uPRITs) for the potential treatment of patients with severe COVID-19. Based on CA, Aragen Bioscience is a leading contract research organization focused on accelerating preclinical biologics product development.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Quick Download Top Companies Development Strategies Summary Report
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