The Global Computer-aided Drug Discovery Market Anticipated to Generate a Revenue of $7,504.7 Million Growing at a CAGR of 11.48% from 2022 to 2030Download Sample Reports Overview
The global computer-aided drug discovery market is estimated to be valued at $7,504.7 million by 2030, surging from $2,940.9 million in 2021, at a noteworthy CAGR of 11.48%.
Impact Analysis of COVID-19 on the Computer-aided Drug Discovery Market
The pandemic has negatively impacted almost every industry segment in the various ways such as obstructions in supply chain along with delay in the product manufacturing. On the other hand, the global computer-aided drug discovery (CADD) market has witnessed a positive impact, throughout the COVID-19 pandemic. The computational technologies specifically computer-aided virtual screening and molecular modelling can play crucial role in understanding the structural aspects of multiple molecular targets of coronavirus as well as identification of novel lead molecules. Also, research institutes and pharmaceutical & biotechnology firms are coming up with their efforts to fight against global pandemic. For instance, in May 2021, researchers at Laufer Center, a hub for research in Physical and Quantitative Biology at Stony Brook University, started adopting computing therapeutic area to discover chemicals that activate or inhibit the viral molecules. It is expected that this research may speed-up the drug discovery for the coronavirus treatment.
Global Computer-aided Drug Discovery Market Analysis
The prevalence of chronic diseases, such as cardiovascular disease, has risen dramatically in recent years. The World Health Organization (WHO), the United Nations (UN), specialized agency in charge of international public health, estimates that the number of CVD patients will reach 23 million by the end of 2030. Furthermore, according to Premier, Inc., a notable healthcare improvement company, the COVID-19 crisis has increased demand for novel drugs for the treatment of CVD conditions. The facts and figures presented above indicate that the need for new drug molecules is expected to increase, which may have a positive impact on the global computer-aided drug discovery market during the analysis period.
However, lack of skilled labor for operating computer aided drug discovery solutions may hamper the global market growth. Also, lower product penetration in the emerging economies is also restraining the global computer-aided drug discovery market.
On the other hand, emerging concepts such as artificial intelligence (AI) and big data in computer-aided drug discovery may drive the market over the forecast period. Artificial intelligence can be used extensively in many aspects of drug discovery, including drug design, chemical synthesis, drug screening, drug repurposing, and polypharmacology. Furthermore, AI has created numerous opportunities for startups to enter the market and use AI therapeutics in conjunction with computer aided drug discovery. For example, in June 20211, Mydecine Innovations Group, the US based emerging biopharma and life sciences firm, announced the official release of its in-silico drug discovery program in collaboration with team of researchers at the University of Alberta. The program is emphasized mainly on designing AI and machine learning (ML) based drug screenings and development. Such novel innovations may create attractive opportunities for the investors in the global computer-aided drug discovery industry.
Global Computer-aided Drug Discovery Market, Segmentation
The global computer-aided drug discovery market is segmented based on type, therapeutic area, end-user, and region.
The type segment is further classified into structure based drug design, ligand-based drug design, and sequence-based approaches. Among these, the ligand-based drug design is expected to have the significant share and cross $3,192.4 million by 2030, with the increase from $1,258.5 million in 2021. The growth of ligand-based drug design is majorly driven due to its key features that provide predictive models significantly suitable for lead compound optimization. Also, ligand-based methods may also include substrate analogues and natural products that interact with the target molecule which may help in yielding the desired pharmacological effect. All these factors will rise enhance the computer-aided drug discovery market, during the analysis period.
The therapeutic area segment is further fragmented into neurology, oncology, cardiovascular disease, respiratory disease, diabetes, and others. The oncology sub-segment is expected to have the highest growth in the global market and generate a revenue of $1,826.3 million by 2030. Discovery of drugs can be made in different ways such as by testing the different compounds in labs to understand their effects on cancer. However, despite extensive research, cancer treatment continues to be one of the major concerns around the world due to medication resistance. As a result, demand for efficient, cost-effective, and successful cancer drugs is increasing, which may boost the growth of the computer-aided drug discovery market during the analysis period.
The end-user segment is further divided into biotechnology companies, pharmaceutical companies, and research laboratories. The pharmaceutical companies sub-segment is expected to generate a revenue of $30,18.9 million, during the forecast period. The growth of pharmaceutical companies sub-segment is mainly attributed to the growing R&D investments, along with major technological innovations. Moreover, in September 2019, AstraZeneca, world-leading pharmaceutical company, announced the official partnership with Schrodinger, the scientific leader in developing state-of-the-art chemical simulation software. As per this agreement, AstraZeneca is expected accelerate drug discovery with the help of Schrodinger’s advanced computing platform to. Such company developments are creating positive impact on the sub segment’s growth, in the coming years.
The computer-aided drug discovery market in the Asia-Pacific region is anticipated to have a lucrative growth. This market generated a revenue of $785.2 million in 2021 and is further estimated to cross up to $2,236.4 million by 2030. This growth is mainly attributed to the increasing research and innovation by the healthcare firms that are operating in the region. Also, the number of patients suffering from multiple diseases like CVD and diabetes is increasing dramatically particularly in China and India may also create positive impact on the market, throughout the forecast period.
Key Players in the Global Computer-aided Drug Discovery Market
Some of the leading global computer-aided drug discovery market players are
- BOCSCI Inc.
- Schrödinger, Inc.
- Aragen Life Sciences Pvt. Ltd.
- Aris Pharmaceuticals, Inc
- Charles River Laboratories
- Bayer AG
- Albany Molecular Research Inc. (AMRI)