USD 6880 million
Report ID: SQSG35A2039 | Region: Global | Published Date: December, 2022 | Pages: 165 | Tables: 90 | Figures: 76
Global Computational Biology Market size was valued at USD 6880 million in 2021 and is poised to grow from USD 4527.82 million in 2022 to USD 18083.66 million by 2030, growing at a CAGR of 18.89% in the forecast period (2023-2030).
The multidisciplinary applied discipline known as computational biology uses concepts from fundamental biology to explore biological systems using mathematical, theoretical, and computer simulation models. The increase in drug discovery research and development, the demand for predictive models, their use in population-based sequencing efforts like the human genome project, and government financing are all driving the market's expansion.
Computing-aided biological models are used in computational bio-modeling to precisely display simulation and review the intricacies of biological models in a virtual environment. The study of genomic homology and internal biological systems is the focus of the computational genetics subfield of computational biology.One of the best instances is the Human Genome Project, in which the entire human genome was successfully sequenced.
Computational biology is used in neurology to view and understand three-dimensional simulation models of the brain by mapping complicated interconnected pathways. When developing new drugs, computational pharmacology simulates complex drug-drug interactions using computer-aided visualisation methods.
The market is expanding as a result of rising R&D for drug development, need for predictive models, application in population-based sequencing efforts like the human genome project, and government financing. For instance, in March 2019, BeiGene, Ltd., a commercial stage pharmaceutical firm engaged in the development of immuno-oncology medications, and Ambrx Inc., a clinical-stage biopharmaceutical company focused on the field of protein therapies, signed an R&D collaboration agreement. In order to introduce an artificial amino acid into the protein sequences of both E. coli and Chinese Hamster Ovary (CHO) cells, Ambrx has developed a patented Expanded Genetic Code platform. Through this partnership, both parties will benefit from Ambrx's drug discovery platforms as well as the latter's knowledge, expertise, and resource pool to produce biologic therapies that are clinically advanced.
Pharmaceutical industry participants are turning away from conventional techniques of clinical trials and toward predictive models as a result of the growing costs of pharmaceuticals and the steadily rising rate of drug failure in late stages of clinical trials. As a result, the global market for computational biology is expanding significantly thanks to the rising demand for predictive models. The market is also being driven by the rising financing for research and development in this area from public and commercial institutions.
US Computational Biology Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 6880 million
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The global computational biology market has been segmented based on application, end-user, service, and region. Based on application, the market is segmented into cellular and biological simulation, drug discovery, disease modeling, and others. Based on the end-user, the market is segmented into academics, commercial, and pharmaceutical. By service, the market is segmented into In-House and Contract. Based on region, the market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Computational Biology Market Analysis by End-User
During the forecast period, it is anticipated that the commercial segment would see a quick CAGR. Computational biology is a field that is expanding and becoming more popular because of advancements in computer hardware and software. It is anticipated that the demand for IT services will increase dramatically, which will help fuel the growth of the market. Similar to this, the market is also anticipated to rise as a result of the quick development of specialised AI microchip processes and the accessibility of enormous amounts of real-time data. A high-performance parallel computing device called an AI accelerator is created especially for the effective processing of AI workloads like neural networks. Large-scale stochastic biological reaction network simulation can be facilitated by accelerators. It can also be used to target particular candidates with the lowest failure potential and define early hazards during drug discovery initiatives. Similar to this, many computational biology techniques can be used in conjunction with next-generation sequencing as a crucial tool for interpreting mutational data from extensive resequencing investigations. Throughout the projection period, this is anticipated to considerably contribute to the segment's revenue growth.
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North America contributes to the largest market share and It is anticipated that will significantly impact the worldwide industry. During the projected period, strong government support for genetically based research, an increase in public-private partnerships, and industry-academia cooperation are anticipated to be favourable factors for regional growth.
Due to government-funded population-based studies and foreign investments, Asia Pacific is expected to experience considerable growth during the projection period. For instance, the New South Wales (NSW) provincial government funds aspiring researchers at the Garvan Institute of Medical Research who are engaged in genetic medicine research each year. Additionally, favourable regional government efforts and policies are anticipated to boost the area market in the ensuing years.
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Computational Biology Market Driver
Computational Biology Market Restraint
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Given the presence of multiple significant competitors, the computational biology market is predicted to become extremely competitive in the near future. Mid-size to smaller businesses are expanding their market presence by releasing new products with lower prices as a result of rising technical breakthroughs and product innovations. Major companies in the market are concentrated on developing new items to extend their product portfolio as well as on implementing collaborative methods to increase their market share. For instance, Genedata, AG released Genedata Imagence 2.0, the most recent iteration of its corporate software for high-content screening (HCS) image analysis, in May 2020.
Top Players in the Global Computational Biology Market
Computational Biology Market Recent Development
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According to our analysis, by end-user, the commercial segment dominated the global computational biology market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, North America dominated the global market owing to the region's strong government support for genetically based research, an increase in public-private partnerships, and industry-academia cooperation.
|Market size value in 2021||USD 6880 million|
|Market size value in 2030||USD 4527.82 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Computational Biology Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Computational Biology Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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