Product ID: SQMIG35A2634
Global Computational Biology Market Size, Share, Growth Analysis, By Application(Cellular, Biological Simulation), By End-User(Academics, Commercial), By Service(In-House and Contract) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2634 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
90 |
Figures:
76
Global Computational Biology Market Insights
Global Computational Biology Market size was valued at USD 6880 million in 2019 and is poised to grow from USD 4527.82 million in 2023 to USD 18083.66 million by 2031, growing at a CAGR of 18.89% in the forecast period (2024-2031).
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 Computational Biology Market Report Snapshots
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