New York, Oct. 28, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Europe Drug Modelling Software Market Forecast to 2027 – COVID-19 Impact and Regional Analysis By roduct Type ; Application, and Country” – https://www.reportlinker.com/p05978847/?utm_source=GNW
Additionally, growing adoption of artificial intelligence in drug discovery and strategic activities by market players are likely to fuel the growth of the drug modelling software market during the forecast period.
However, factors such as lack of data standardization are likely to restrain the growth of the market.
Drug modelling has become an essential tool in the drug design process.Software-based drug discovery and development methods are playing a key role in the development of novel drugs.
Software-based methods, such as molecular modelling, structure-based drug design, structure-based virtual screening, ligand interaction, and molecular dynamics, are considered to be a powerful tool for investigation of pharmacokinetic and pharmacodynamic properties of drugs.These methods are fast and accurate.
They provide valuable insights of experimental findings and mechanisms of action. In addition, appropriate implementation of these techniques may help in reducing cost of drug designing and development.
Artificial intelligence (AI) and associated technologies are making drug discovery cost-effective and quick.Leading biopharmaceutical companies have been utilizing AI platforms to accelerate the drug discovery of novel therapeutics.
With the rapid introduction of AI in healthcare, numerous pharmaceutical companies have made investments in joint ventures with AI companies to develop better healthcare tools.These include the identification of drug targets and designing new drugs.
For instance, Sanofi has collaborated with a UK-based start-up Exscientia.Sanofi would use Exscientia’s AI platform to discover metabolic-disease therapies.
At present, AI tools are used in screening and identifying compounds, as well as minimizing drug interactions that may cause issues later.
With the rapid introduction of AI in healthcare, numerous pharmaceutical companies have made investments in joint ventures with AI companies to develop better healthcare tools.These include identifying drug targets and designing new drugs.
Therefore, numerous partnerships between pharmaceutical industries and AI companies and government organizations were witnessed. Moreover, increasing number of AI start-ups in drug discovery technologies is further accelerating the growth of the drug modelling software market.
With the increase in the number of COVID-19 cases in the region, every ounce of technological innovation and ingenuity is harnessed to fight this pandemic and bring us one step closer to overcoming it.Artificial intelligence, as well as machine learning, are playing a pivotal role in understanding and addressing the COVID-19 crisis.
In the fight against COVID-19, organizations have been quick to apply their machine learning expertise in several areas: scaling customer communications and understanding how COVID-19 spreads and speeds up research and treatment.Computational modeling has uses in the battle against COVID-19 beyond analyzing the virus’s structure itself.
French artificial intelligence start-up Exact Cure seeks to model and predict the efficacy and pharmacokinetics of already approved drugs being studied for Covid-19. Additionally, governments’ initiatives in the region open a window of opportunities for the drug modelling software market.
In 2019, the software segment based on product type accounted for the highest share of the market.Also, the same segment is estimated to grow at the highest CAGR during the forecast period.
Growth of this segment can be attributed to rise in demand for effective therapeutics and increase in drug discovery efforts of various biologics across a wide range of therapeutics. In addition, strategic activities by service providers, such as collaborations, product advancement, and product launch, in order to accelerate drug discovery timeline are further accelerating the growth of the market.
A few of the major secondary sources associated with the Europe drug modelling software market report include World Health Organization (WHO), European Federation of Pharmaceutical Industries and Associations (EFPIA), and European Medicines Agency (EMA).
Read the full report: https://www.reportlinker.com/p05978847/?utm_source=GNW
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