The global computer aided drug discovery (CADD) market accounted for $1,540.4 billion in 2018, and is anticipated to reach $5,427.2 billion by 2026, at a CAGR of 16.9% during the forecast period.
Due to the COVID-19 pandemic, the computer aided drug discovery market has experienced a boost in the growth in 2020. The market is anticipated to continue its growth during the projected timeframe even after the COVID-19 outbreak is under control. Research Dive analysts have predicted the condition of the computer aided drug discovery market during the COVID-19 outbreak, and have come to the below-mentioned inferences.
|Realtime BPS||*Estimate market Size, 2020,
|**Real Time market Size, 2020,
|15.5%||16.9%||144||USD 2,096.3 Billion||USD 2,134.5 Billion|
* The numbers are estimated prior to the COVID-19 Pandemic in 2020
** The data will vary depending on upcoming developments announced by the operating players
KEY ASPECTS OF THE INDUSTRY
BOOMERS AND DECLINERS
The rising usage of pharmacodynamics and pharmacokinetic modelling in pre-clinical advancements is anticipated to drive the computer aided drug discovery market’s growth in the recent years. In addition, the rapid growth in the demand for latest technologies to decrease the cost associated with drug discovery and development is the major factor for the growth of computer-aided drug discovery market. Besides, many organizations are coming together to use CADD to develop a vaccine for COVID-19 infection.
Despite various positive factors, improper standardization in the drug discovery methodology has been a major point of concern. Along with the aforementioned factor, insufficient knowledge about various biological systems and processes due to which the drug development fails are the major factors that may hamper the market growth. Besides, drug development is a high cost procedure and it requires more time for development. This is also a major factor that is restraining the market growth.
COVID-19 has created a massive impact over the recent months across the globe and has boosted the computer-based drug discovery market growth. The key players in computer-aided drug discovery across the globe are using various strategies to win the race by discovering drugsto treat the patients suffering due to COVID-19.The major strategy that is being followed is partnership and collaborations. Twist Bioscience Corporation and Vaderbilt University Medical Centre have joined hands to develop the vaccine for COVID-19. The government is investing its funds and financing organizations in their quest to discover the appropriate vaccine.
Artificial intelligence (AI) along with computer aided drug discovery is proving its importance in the drug discovery industry, as it is helping scientists to find appropriate vaccines for COVID-19. For example, AlphaFold, an AI that predicts the 3D structure of the protein-based genetic sequence, which was developed by Google’s DeepMind, was implemented in the testing process of COVID-19. Many drug discovery organizations are working rapidly on developing the appropriate vaccine for COVID-19.
MANAGING SUCCESS AMIDST
THE PANDEMIC STRESS
The global computer aided drug discovery market will continue to grow, even after the COVID19 pandemic is under control. All the pharmaceutical organizations and research institutes are working hard to fight the COVID-19 disease. However, growing trend of computer aided drug discovery is expected to grow in the coming years, as there are many more diseases; those do not have appropriate drugs and their respective drugs are still under development stages. These factors are expected to boost the market growth in the coming years as well.
Increased investments to develop drugs for the treatment of COVID-19 has positive impact on the market growth. For instance, BenevolentAI, a start-up, has invested around $292 million to develop the drug with the help of artificial intelligence and computer-based drug discovery together. COVID-19 is anticipated to boost the global computer-aided drug discovery market in the recent years. In addition, computer aided drug development involves the use of structural image and target structure of ligand to make possible the determination of appropriate drug for treatment.
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- Long-Term and Short-Term impact of Covid-19 on the market
- Cascading impact of Covid-19 on Computer Aided Drug Discovery Market , due to the impact on its extended ecosysytem
- Understanding the market behavior Pre- and Post-Covid-19 pandemic
- Startegy suggestions to overcome the nagative impact or turn the positive impact into the opportunity