The global computer-aided drug discovery market is expected to see striking growth by 2030, due to the growing utilization of artificial intelligence in drug discovery. The North America region is expected to hold the largest share of the market.
NEW YORK, June 21, 2022 /PRNewswire/ — 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), and Sequence-based Approaches), Therapeutic Area (Oncology, Neurology, Cardiovascular Disease, Respiratory Disease, Diabetes, and Others), End-user (Pharmaceutical Companies, Biotechnology Companies, and Research Laboratories) and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022–2030.’
According to the report published by Research Dive, the global computer-aided drug discovery market is anticipated to generate a revenue of $7,504.7 million and grow at a healthy CAGR of 11.48% during the estimated period from 2022 to 2030.
Dynamics of the Computer-aided Drug Discovery Market
The increasing usage of artificial intelligence in drug discovery for chemical synthesis, polypharmacology, drug screening, and studying the three-dimensional structure of molecules, is expected to fortify the growth of the computer-aided drug discovery market over the analysis period. Besides, the increasing demand for high-speed drug development for various chronic development like cancer is further expected to bolster the growth of the market during the forecast period. Moreover, the increasing technological advancements in the field of computer-aided drug discovery and growing research activities to provide accurate results in less time are the factors expected to create expansive growth opportunities for the market. However, the lack of skilled professionals in this field may hinder the growth of the market over the estimated timeframe.
Covid-19 Impact on the Computer-aided Drug Discovery Market
Though the rise of the novel coronavirus has devastated several other industries, the computer-aided drug discovery market has experienced a positive impact during the pandemic period. This is mainly due to the increasing R&D activities among scientists, researchers, and biopharmaceutical companies to control the spread of the deadly virus. This has skyrocketed drug discovery activities all across the globe. In addition, the huge investment made by leading market players for technological development in research and development activities has inclined the growth of the market during the period of crisis.
Segments of the Computer-aided Drug Discovery Market
The report has divided the market into different segments based on type, therapeutic area, end-user, and region.
By type, the structure-based drug design sub-segment is expected to be productive and is projected to generate a revenue of $2,471.3 million during the analysis period. The increasing demand for new drugs for various diseases and increasing technological advancements in drug discovery are expected to boost the growth of the market sub-segment over the estimated timeframe.
By therapeutic area, the oncology sub-segment is predicted to be the most profitable and is expected to generate a revenue of $1,826.3 million during the forecast period. The increasing demand for cost-effective, successful, and efficient cancer drugs for the treatment of different types of cancer is expected to uplift the growth of the market sub-segment throughout the analysis period.
By end-user, the pharmaceutical companies sub-segment is expected to most lucrative and is projected to garner a revenue of $3,018.9 million over the estimated timeframe. The increasing need for applying different approaches to identify chemical compounds beneficial for human use is expected to augment the growth of the market sub-segment during the forecast period.
By region, the North America region of the computer-aided drug discovery market is expected to hold the maximum share of the market and is predicted to generate a revenue of $2,514.1 million during the estimated period and grow at a healthy CAGR of 10.83% during the analysis period. The increasing number of cancer cases in this region and growing research activities in institutes and hospitals using computer-aided drug discovery in the field of cancer is expected to drive the regional growth of the market over the analysis period.
Key Players of the Computer-aided Drug Discovery Market
The major players of the computer-aided drug discovery market include
Aris Pharmaceuticals, Inc
Charles River Laboratories
Aragon Life Sciences Pvt. Ltd.
Albany Molecular Research Inc. (AMRI)
These players are widely working on the development of new strategies such as product development, mergers, collaborations, mergers, and acquisitions to procure a leading position in the global industry.
For instance, in April 2022, Iktos, a leading drug discovery company specializing in the development of AI solutions applied to chemical research, collaborated with Teijin Pharma, a renowned company that provides comprehensive healthcare services to improve the quality of life. With this collaboration, the companies will focus on the incorporation of AI technology to enhance the speed of the drug design process for small molecule drug discovery.
Further, the report also summarizes other important aspects such as product portfolio, the financial performance of the key players, SWOT analysis, and the latest strategy development.
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