New York, USA, Jan. 04, 2022 (GLOBE NEWSWIRE) — Research Dive has added a new report to its offering titled, “Computer-aided Drug Discovery Market by Type (Structure-based Drug Design (SBDD), Ligand-based Drug Design (LBDD), Sequence-based Approaches), Therapeutic Area (Oncology, Neurology, Cardiovascular Disease, Respiratory Disease, Diabetes, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028”.
According to the report, the global computer-aided drug discovery market is expected to generate a revenue of $7,914.2 million by 2028, growing rapidly at a CAGR of 15.0% during the forecast period 2021-2028.
Dynamics of the Computer-aided Drug Discovery Market:
Drivers: The increasing usage of artificial intelligence for drug screening, polypharmacology, and chemical synthesis across the world is predicted to drive the growth of the computer-aided drug discovery market by 2028. In addition, strategic alliances between significant market players and the growing demand for drugs is estimated to further boost the market growth during the forecast period.
Opportunities: Several advancements in the field of computer-aided drug discovery and wide adoption of the latest technologies like artificial intelligence and machine learning are the main factors to bring better opportunities for the growth of computer-aided drug discovery market by 2028.
Restraints: The lack of technical knowledge and highly skilled technicians are the prime factors to limit the growth of the computer-aided drug discovery market during its forecast timeframe.
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Covid-19 Impact on the Computer-aided Drug Discovery Market:
The onset of the Covid-19 pandemic has had a positive effect on the computer-aided drug discovery market. The increased R&D activities among researchers, scientists, biopharmaceutical and biotechnological companies to restrict the spread of coronavirus led to higher growth rate of the market. Moreover, the rising adoption of advanced technologies like artificial intelligence and machine learning among medicinal companies led to higher demand for manufacturing drugs, thus driving the market’s growth during the forecast analysis.
Segments of the Computer-aided Drug Discovery Market:
The report has divided the market into various segments based on type, therapeutic area, and region.
- By type, the ligand-based drug design type sub-segment is expected to hold a dominant market share and register a revenue of $3,366.4 million during the forecast years. The increasing technological innovations revolving around ligand-based drugs is expected to bolster the growth of the sub-segment by 2028. Additionally, designing molecules based on ligand-based drug designs to study the properties of molecules is estimated to further enhance the computer-aided drug discovery market’s sub-segment during the analysis timeframe.
- By therapeutic area, the oncology sub-segment is predicted to register a revenue of $1,880.7 million by 2028 and have a significant contribution in the global market. The increasing cases of cancer among people these days is projecting tremendous stress upon the healthcare and medical sector to find out suitable medication processes. This requires extensive research to develop efficient and cost-effective cancer drugs, thus accelerating the growth of computer-aided drug discovery market’s sub-segment during the analysis period.
- By region, the North America region is anticipated to be the most dominant and garner a revenue of $2,730.4 million by 2028. The rising research activities of institutes and hospitals in the computer-aided drug discovery for cancer drugs is expected to accelerate the growth of computer-aided drug discovery market in the North America region during the forecast timeframe.
Significant Computer-aided Drug Discovery Market Players:
The significant players of the computer-aided drug discovery market include
- BOCSCI Inc.,
- Schrödinger, Inc.,
- Aragen Life Sciences Pvt. Ltd.,
- Aris Pharmaceuticals, Inc,
- Charles River Laboratories,
- Bayer AG,
- Albany Molecular Research Inc. (AMRI). and many more.
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to assist the market growth.
For instance, in November 2020, Bristol Myers Squibb, a multinational pharmaceutical organization, collaborated with Schrodinger, Inc, a life sciences and materials science company, to utilize the highly advanced physics-based software to enable the discovery of high-quality cancer drugs. – Inquire to Get access for Detailed Top Companies Development Strategy Report
The report also summarizes many important aspects including financial performance of the significant players, SWOT analysis, product portfolio, and latest strategic developments.
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