The Brainy Insights Research launched a study titled “Computational biology Market by Service (In-house, Contract), Application (Cellular & Biology Simulation, Drug Discovery and Disease Modeling, Pre-clinical Drug Development, Clinical trials, Human Body Simulation Software), End-user (Academics, Industry, Commercial) Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2030”
The global computational biology market is expected to grow from USD 2.96 billion in 2020 to USD 34.87 billion by 2030, at a CAGR of 22.7% during the forecast period 2021-2030. Global computational biology market is witnessing a considerable growth owing tothe increasing number of clinical studies in pharmacogenomics and pharmacokinetics all across the globe.
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The contract segment dominated the global computational biology market with the market revenue of USD 1.57 Billion in 2020.
The service segment is divided into contract and in-house. The contract segment dominated the global computational biology market with the market revenue of USD 1.57 Billion in 2020. The segmental growth is attributed to the fact that contract services are less expensive as compared to the in-house services. These contract based services increase the computational capabilities by eradicating considerable waste in the research enterprises.
The cellular and biological simulation segment dominated the market with a market revenue of USD 1.03 Billion in 2020.
The application segment includes cellular& biology simulation, drug discovery and disease modeling, pre-clinical drug development, clinical trials, human body simulation software. The cellular and biological simulation segment dominated the market with a market value of USD 1.03 Billion in 2020. The segment growth is attributed because computational cell modelling and biological simulation aids in decrypting the physiological and biological functions of cells.
The academics segment is poised to have the highest growth during the forecast period.
By end-user, the market is segmented into academics, industry and commercial. The academics segment is going to have the highest growth during the forecast period. The segment growth is mainly attributed owing to the increase in the drug designing, bioinformatics research, and usage in personalized medicine in academics and research institutions.
Regional Segmentation Analysis:
The market is analyzed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America is dominating the market with the market value of USD 1.74 Billion in 2020. The regional growth is attributed due to the strong government initiatives and funding activities for genetic-based studies coupled with the rise in public-private partnerships in and across the region. The market in the Asia Pacific is expected to grow at the highest CAGR over the forecast period owing to the foreign investments and government-funded population-based studies.
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Competitive Analysis:
The major players of the marketinclude Accelrys, Certara, Chemical Computing Group Inc., Compugen Ltd., Entelos, Genedata AG, Insilico Biotechnology AG, LeadscopeInc, Nimbus Discovery Llc, RhenoviaPharma SA, Schrodinger and Simulation Plus Inc. among others.
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