New York, Nov. 26, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Middle East & Africa Drug Modelling Software Market Forecast to 2027 – COVID-19 Impact and Regional Analysis By Product Type ; and Application and Country” – https://www.reportlinker.com/p05989551/?utm_source=GNW
Additionally, growing adoption of artificial intelligence (AI) technology in drug discovery and increasing number of strategic activities performed by market players are likely to fuel the growth of the market during the forecast period. However, less adoption of drug modelling software in emerging countries is likely to restrain the growth of the market.
Drug modelling is an essential tool in the drug design process.Software-based drug discovery and development methods play 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 as powerful tools for the investigation of pharmacokinetic and pharmacodynamic properties of drugs.These methods are fast and accurate, and they provide valuable insights of experimental findings and mechanisms of action.
In addition, appropriate implementation of these techniques helps reduce cost of drug designing and development.
The companies engaged in the drug discovery and development are performing various business strategies to expedite discovery timelines and improve product success.The future of drug discovery relies on the collaboration activities, which can be performed among innovative biotech companies, academics, and pharma companies.
For instance, in November 2018, Bristol-Myers Squibb Company and Compugen entered into a clinical trial collaboration to evaluate the safety and tolerability of Compugen’s COM701, an investigational anti-PVRIG antibody, in combination with Bristol-Myers Squibb’s programmed death-1 (PD-1) immune checkpoint inhibitor Opdivo (nivolumab), in patients with advanced solid tumors.Moreover, several players operating in this market are continuously expanding their capabilities to enhance their respective in silico-based service portfolio and maintain a competitive edge in the market.
Many pharmaceutical companies are benefited by adopting these technologies. Thus, strategic activities and collaborations performed by market players and adoption of technological advancements by pharma and biotech companies would propel the growth of the market during the forecast period.
Countries in this region are sequencing complete COVID-19 genome.For instance, a new initiative to study and identify the genetic factors that cause symptoms of the COVID-19 disease among Saudis has been launched in Riyadh, as part of efforts to tackle the pandemic.
This initiative aims to help in the development of the national genetic databases in cooperation with the healthcare sector.The initiative will also develop solutions and strategic plans to protect the population of the Kingdom and those who are at the risk of contracting the disease.
It will also increase the efficiency of current treatment methods and the development of new drugs. Thus, the continuous research in the drug development of COVID-19 disease, by using drug discovery platforms, is expected to fuel the growth of the market.
Based on product type, the software segment accounted for the largest share of the market in 2019.The same segment is estimated to grow at the highest CAGR during the forecast period.
The growth of this segment is attributed to the 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, such as collaborations, product advancement, and product launch, are performed by service providers to reduce the time required in drug discovery accelerating the growth of the market.
A major secondary source associated with the Middle East & Africa drug modelling software market report is the World Health Organization (WHO).
Read the full report: https://www.reportlinker.com/p05989551/?utm_source=GNW
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