Computational Biology Market to Hit $20.5 Billion, Globally, by 2030 at 17.6% CAGR: Coherent Market Insights (CMI)

Burlingame, July 24, 2023 (GLOBE NEWSWIRE) -- Coherent Market Insights published a report, titled, “Computational Biology Market, By Type (Cellular and Biological Simulation (Computational Genomics, Computational Proteomics, Pharmacogenomics, and Others (Transcriptomics/Metabolomic)), Disease Modeling and Simulation Applications (Drug Discovery, Drug Development)), By Tools (Content/Database, Analysis Software and Services, and IT Infrastructure (Hardware))”: Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030”. According to Coherent Market Insights, the global computational biology market is estimated to be valued at US$ 6.6 billion in 2023 and is expected to exhibit a CAGR of 17.6% during the forecast period (2023-2030).

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Analysts’ Views on the Global Computational Biology Market:

The increasing prevalence of chronic diseases, increasing research and development in the field of computational biology, and collaboration between key markets players are expected to drive the global computational biology market growth. For instance, according to an article published by the Department of Biotechnology, a Government of India office of Ministry of Science and Technology on February 17, 2022, the need of computational have increased due to increase in genome sequencing projects. Major activities such as MANAV: Human Atlas Initiative, DAICENTER Program, DBT Apex BTIC have been established by government of India. Department of Biotechnology has established Bioinformatics and Computational Biology Centers, and started applications of artificial intelligence, machine learning, and other high-throughput data related informatics in various sectors of life sciences. This has been planned with a focused attempt to engage best expertise in development and advancement of computational tools and technologies from various institutions. Such government initiatives can drive growth of global computational biology market.

Global Computational Biology Market- Driver

Increasing launch of computational biology technologies

The launch of newer computational biology technologies is expected to drive the global computational biology market growth during the forecast period. For instance, on May 24, 2021, the World Health Organization (WHO) signed a Memorandum of Understanding (MoU) with Swiss Confederation to launch the first WHO BioHub Facility as a part of WHO BioHub System, this facility will serve as a center for the safe receipt, sequencing, storage and preparation of biological materials. This BioHub facility will allow pathogens information sharing between laboratories and facilitate “analysis and preparedness” against them.

Computational Biology Market Report Coverage

Global Computational Biology Market- Restraint

Lack of skilled professionals

The lack of skilled professionals in the field of computational biology is one of the major restraints for the global computational biology market. For instance, according to an article published on December 9, 2021, Plos Computational Biology, with the large amount of data in biology and the increasing demand for data analysis skills, bioinformatics has become an essential discipline for many areas of biology, including genetics, genomics, proteomics, and systems biology. As a result, there is a high demand for bioinformatics professionals. Bioinformatics is an interdisciplinary field that requires individuals to have a strong background in both biology and computer science, making it challenging to find individuals with the necessary skills. Secondly, the rapid growth of the field has outpaced the development of training programs and courses, leading to a lack of formal education and training opportunities for individuals. Thirdly, the field is highly competitive, and many individuals with bioinformatics skills are drawn to lucrative positions in the tech industry, which results in reduced skilled professionals.

In order to counterbalance this restraint, newer courses should be introduced and funding opportunities should be provided for bioinformatics research which will encourage the development of interdisciplinary collaborations and training programs.

Global Computational Biology Market- Opportunity

Growth strategies like partnerships by key market players

Increasing growth strategies like partnerships for computational biology by key market players is expected to offer growth opportunities to the market. For instance, on January 6, 2022, Amgen Inc., a U.S.-based multinational biopharmaceutical company, announced a research collaboration agreement with Generate Biomedicines, a U.S.-based biotechnology company, to discover and create protein therapeutics for five clinical targets across several therapeutic areas and multiple modalities. As part of the research collaboration, Amgen will pay US$ 50 million in upfront funding for the initial five programs with a potential transaction value of US$ 1.9 billion plus future royalties, and will have the option to nominate up to five additional programs, at additional costs. For each program, Amgen will pay up to US$ 370 million in future milestones and royalties up to low double digits. Amgen will also participate in a future financing round for Generate Biomedicines.

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Global Computational Biology Market- Cross Sectional Analysis:

Among the tools segment, the analysis software and services segment was dominant during the forecast period in Europe due to increasing collaborations by key market players for computational technologies. For instance, on September 13, 2021, Uphill, a Portuguese-based digital health startup, developed software to guide clinical decisions. This software has raised US$ 3.8 million in a seed round to scale up the software. The seed round was led by Brighteye Ventures and MSM.

Global Computational Biology Market- Segmentation:

The global computational biology market report is segmented into type, tools, and region.

Based on type, the global computational biology market is segmented into cellular and biological simulation and disease modeling and simulation applications. Out of which, the cellular and biological simulation segment is expected to dominate the market due to increasing research and development activities.

Based on tools, the global computational biology market is segmented into content/database, analysis software and services, IT infrastructure (hardware). Among these, the analysis software and services segment is expected to dominate the market over the forecast period due to the increasing usage of these software in computational biology.

Based on region, the global computational biology market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Among these, North America is expected to dominate the market over the forecast period due to increasing product launches in this segment.

Among all segmentation, the type segment has the highest potential due to increasing launches of products by the key market players. For instance, according to an article published by a journal, Theoretical and Computational Chemistry on January 18, 2023, computational microscopes can be employed to model an entire cell, the minimal cell, JCVI-syn3A, at full complexity. This approach interrogates the cell’s spatio-temporal evolution with molecular dynamics simulations, an approach that can be extended to other cell types in the near future.

Global Computational Biology Market: Key Developments

The strategies by key market players like collaborations is expected to drive the market growth. For instance, on October 27, 2021, Lantern Pharma, a U.S.-based clinical stage biotechnology company announced a collaboration with Code Ocean Inc., a U.S.-based computational research platform for artificial intelligence driven computational research on oncology-focused drug discovery and development using its proprietary RADR artificial intelligence platform to transform the cost, pace, and timeline of oncology drug discovery and development. By leveraging Code Ocean's Compute Capsule technology, the strategic approach is expected to further power Lantern Pharma's RADR platform for faster, more collaborative discoveries from billions of RADR data points, as well as data and insights from Lantern Pharma's network of collaborators.

Strategies like acquisition by key market players can drive the growth of the market over the forecast period. For instance, on July 25, 2022, Cadence Design systems Inc., a U.S.-based computational software company announced that it entered into a definitive agreement to acquire OpenEye Scientific Software, Inc., a U.S.-based provider of computational molecular modeling and simulation software being widely and increasingly used by pharmaceutical and biotechnology companies for drug discovery. The addition of OpenEye’s technologies and team with its scientific expertise accelerates Cadence’s Intelligent System Design growth by expanding its Total Addressable Market (TAM).

Key Market Takeaways:

The global computational biology market is expected to exhibit a CAGR of 17.6% during the forecast period due to increasing launches of new products

Among type, the cellular and biological simulation segment is dominant due to the products launched by the key market players. For instance, on January 23, 2023, QIAGEN N.V., a Europe-based molecular diagnostic company, launched an ultra-fast NGS analysis to process the whole genome on 25 minutes for US$ 1 in cloud computing cost. The new product QIAGEN CLC Genomics Workbench Premium removes the data-analysis bottleneck of Next-generation Sequencing (NGS) by adding game-changing analysis speed to analyze and interpret Whole Genome Sequencing (WGS), Whole Exome Sequencing (WES), and large panel sequencing data.

Competitive Landscape:

The key players operating in the global computational biology market are Accelrys, Certara, L.P., Chemical Computing Group Inc., Compugen, Ltd., Entelos, Inc. (Rosa & Co. LLC), Genedata AG, Insilico Biotechnology AG, Leadscope, Inc., Nimbus Discovery LLC, Rhenovia Pharma SAS, Schrodinger, and Simulation Plus, Inc.

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Detailed Segmentation:
Global Computational Biology Market, By Type:

• Cellular and Biological Simulation
  • Computational Genomics
  • Computational Proteomics
  • Pharmacogenomics
  • Others (Transcriptomics/Metabolomic)
• Disease Modeling and Simulation Applications
  • Drug Discovery
  • Drug Development

Global Computational Biology Market, By Tools:

• Content/Database
• Analysis Software and Services
• IT Infrastructure (Hardware)
  

Global Computational Biology Market, By Region:

• North America
  • By Country
    • U.S.
    • Canada
• Latin America
  • By Country
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
• Europe
  • By Country
    • U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Russia
    • Rest of Europe
• Asia Pacific
  • By Country
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
• Middle East
  
  • By Country
    • GCC Countries
    • Israel
    • Rest of Middle East
• Africa
  
  • By Country
    • North Africa
    • Central Africa
    • South Africa

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