New York, USA, March 16, 2023 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global computer-aided drug discovery market. According to the report, the global market is projected to surpass $7,504.7 million and grow with a CAGR of 11.48% in the estimated period, 2022–2030. This all-inclusive report delivers a comprehensive overview of the current and future situation of the global market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
Impact of the COVID-19 Pandemic on the Computer-aided Drug Discovery Market
The outburst of the COVID-19 pandemic in 2020 has had a positive impact on the growth of the global computer-aided drug discovery market. The market for computer-aided drug discovery has grown rapidly as a result of increased R&D activities among researchers, scientists, and biotechnological and biopharmaceutical enterprises to combat the spread of the coronavirus disease. The global search for a treatment or medicine to combat this deadly virus has been sparked by its rising transmutation rate. All these factors significantly boosted the market growth amidst the pandemic.
Factors Impacting the Computer-aided Drug Discovery Market Growth
The key factor boosting the growth of the global computer-aided drug discovery market is a significant growth in the use of artificial intelligence in drug development for polypharmacology, chemical synthesis, drug screening, and studying the three-dimensional structure of molecules. Furthermore, the growing convergence of many technologies that speed up research processes and deliver precise results in less time is expected to open up lucrative opportunities for the market growth during the forecast period. However, a lack of technical knowledge related to computer-aided drug discovery is anticipated to deter the market’s growth.
The report segments the global computer-aided drug discovery market into type, therapeutic area, end user, and region.
Structure Based Drug Design Sub-Segment to Hold a Major Share
The structure-based drug design sub-segment of the type segment is expected to grab a dominant share and hit $2,471.3 million during the forecast period. This growth is mainly due to rising developments in technology and growing need for novel medications to treat a various ailment.
Oncology Sub-Segment to Grab a Foremost Share of the Market
The oncology sub-segment of the therapeutic area segment is expected to observe massive growth and garner $1,826.3 million during the forecast period. This growth is mainly owed to the growing need for cancer drugs that are cost-effective, successful, and efficient.
Pharmaceutical Companies Sub-Segment to Witness Rapid Growth
The pharmaceutical companies sub-segment of the end user segment is predicted to grow enormously and surpass $3,018.9 million in the forecast period. This growth is mainly due to the use of computer-aided drug discovery by the pharmaceutical industry to develop or find novel medications.
North America Region to Perceive Maximum Growth
The report analyzes the global computer-aided drug discovery market across several regions such as North America, Asia-Pacific, Europe, and LAMEA. Among these, the North America market is projected to observe significant growth and hit $2,514.1 million by 2030. This growth is mostly owed to the rapidly rising cases of cancer in this region.
Key Players of the Global Market
The report states some of the foremost players operating in the global computer-aided drug discovery market including
- Bioduro-Sundia
- BOCSCI Inc.
- Aragen Life Sciences Pvt. Ltd.
- Schrödinger Inc.
- Charles River Laboratories
- Aris Pharmaceuticals Inc.
- Bayer AG
- Albany Molecular Research Inc. (AMRI)
- AstraZeneca
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the global market.
For instance, in November 2020, Schrödinger, Inc., whose physics-based software platform is revolutionizing the discovery of medicines and materials, announced a discovery partnership with Bristol Myers Squibb Corporation, a global biopharmaceutical company, with an aim to find, develop, and commercialize treatments for a variety of diseases.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, the novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
More about Computer-aided Drug Discovery Market:
- Computer-aided Drug Discovery: A Quick Look at its Types and Examples
- Global Computer-aided Drug Discovery Market to Rise at a CAGR of 11.48% and Surpass $7,504.7 Million by 2030, Owing to Increasing Investments in Research Activities for Drug Development
