In terms of revenue, the Global Computational Biology Market is expected to reach USD 10.82 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 17.80% from 2022 to 2028. The Global Computational Biology Market growth is attributed to the factors such as, investments in R&D sector, increasing need for drug discovery, and rising demand for predictive models. Moreover, usage in population based sequencing projects such as human genome project is further projected to drive Computational Biology Market growth over the forecast period.
- Under the application segment, drug discovery sub-segment is anticipated to dominate the segment for Computational Biology Market and growing at a substantial Compound Annual Growth Rate (CAGR). The market growth is attributed to, increasing prevalence of infections and chronic diseases which is further increasing the demand or drug discovery.
- Commercial sub-segment held a market significant share in 2021 of end use segment for Computational Biology Market. The market growth is attributed to, mounting bioinformatics research, drug designing, and usage in personalized medicine.
- North America is the largest regional segment. Market growth is attributed to increasing investment in research, as well as rise in public-private partnerships in the region.
Some of key players in Computational Biology Market include - Dassault Systèmes SE (France), Chemical Computing Group ULC (Canada), Genedata AG (Switzerland), Instem PLC (UK) , Compugen Ltd (Israel)..
Computational Biology have several applications in cellular & biological simulation, drug discovery & disease modelling, and preclinical drug development. It is also applied in clinical trials, human body simulation software. Increasing outsourcing of drug discovery process by pharmaceutical companies is increasing the growth of Computational Biology Market. As the worldwide companies are focusing more on research and development, services outsourcing is one of the prominent strategy of the companies to lower down the cost and time required for drug discovery processes. According to our analysis, increasing number of bio-manufacturers, collectively up to 70% across the globe, tend to outsource at least some of their bioprocessing activity. Outsourcing a drug discovery process saves time and investment for the company itself, which enables biopharmaceutical and pharmaceutical companies to focus on other areas of product development. Thus, anticipated to drive the market over the forecast period.
North America is expected to emerge as potential market for Computational Biology Market. U.S. is anticipated to hold the largest share of the region for Computational Biology Market. Increasing technological advancements in addition to increasing funding from government as well as major players is further boosting the market growth over the forecast period.