Global Computational Biology Market Projected to be Worth USD 10.82 Billion by 2028
The Global Computational Biology Market is projected to grow from USD 4.14 Billion in 2021 to USD 10.82 Billion, growing at a Compound Annual Growth Rate (CAGR) of 18.1% between the forecast period of 2022 and till the year 2028. Computational Biology is the process of developing and implementing data analysis, mathematical modeling, and integration simulation techniques to study biological, environmental, ethical, and social systems. Active drug discovery requires a complex understanding of many fields - from basic chemistry and biological composition of patient population to the pathological pathways involved and the supporting genome. Computational Biology finds links between different experts and scientists and thus helps drug-finding scientists to make more informed decisions.
The growing efforts and investment of private and public sector Research and Development (R&D) agencies for drug discovery and advanced diagnostic technology and modernization are at the forefront of the global Computational Biology Market. Increasing demand for Computational Biology tools in various fields such as genomics, epi-genomics, proteomics, and meta-genomics in order to better understand protein composition and interactions is expected to advance the market. In addition, emerging players have a better chance of entering the computer biology market, thanks to market developments. However, problems can include allergies and other postoperative complications, adverse government conditions, high initial costs and equipment maintenance costs, lack of suspension, and a shortage of skilled workers. These are expected to be significant barriers to market growth during the forecast period.
Advanced technological advances have now opened the door to a global innovation in the healthcare sector. Computational genetics are the biological guidance of calculations in which homology and internal biological methods are studied using genetic sequences. Computational Biology also finds application in neurology, where it is used to map complex integrated systems to visualize 3D brain models. The medical benefits of Computational Biology are expected to boost the market for computer biology during forecasting. In addition, computational pharmacology also uses computer biological tools to visualize and simulate improved drug interactions in the drug design process.
Computational Biology has a wide range of applications in the field of cellular & biological simulation like pharmacogenomics and computational genomics, preclinical drug development like pharmacodynamics, human body simulation software, and drug discovery & disease modeling. Drug discovery is expected to grow with significant CAGR due to high investment in new drug development and increased incidence of failure in clinical trials. With drug discovery and clinical trials, many companies are approaching the services of external companies, which must maintain biological statistics setup to perform various drug discovery procedures. Based on services, Computational Biology can be either in-house or on contract. While the end use served by the market include academics, industry, and commercial.
On the basis of regional analysis, the global Computational Biology Market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America leads the global Computational Biology Market. The rapid adoption of advanced biotechnologies increases awareness and affordable affordability features. The growing expansion of contract research institutions and government support has also contributed to market demand.
With the growth of technology development and product innovation, medium to small companies are expanding their market presence by introducing new low-cost products. Some of the leading players in the Global Computational Biology Market include - Dassault Systèmes SE (France), Chemical Computing Group ULC (Canada), Genedata AG (Switzerland), Instem PLC (UK) , Compugen Ltd (Israel)..
Browse the full Report - Computational Biology Market by Application (Cellular & Biological Simulation, Drug Discovery & Disease Modelling, Preclinical Drug Development, Clinical Trials), by Services (In-house, Contract), by End-Use (Academics, Industry, Commercial), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)