In-silico Drug Discovery Market to Reach USD 40.3 Billion to 2031 with a CAGR of 18.05% from 2024

2024-04-30

“In-silico Drug Discovery Market” in terms of revenue was estimated to be worth $10.9 Bn in 2023 and is poised to reach $40.3 Bn by 2031, growing at a CAGR of 18.05% from 2024 to 2031 according to a new report by InsightAce Analytic. Market Analysis: One of the key elements anticipated to boost market expansion and demand is the increase in the amount of drug discovery data. Throughout the projection period, the market is also anticipated to increase as a result of the acceleration of growth in the biomarker identification field and the emphasis on lowering readmission and medical mistake rates. In addition, two important aspects that are anticipated to drive market expansion are the affordability and widespread use of in-silico drug designing services. Download Free Report Sample Pages: Latest Drivers Restraint and Opportunities Market Snapshot: Key factors influencing the in-silico drug discovery market are: Increasing Focus On Reducing Drug Errors Increasing Use Of Cloud-Based Software In Drug Discovery Rapid Technical Advancements In The Computational Biology Sector The following are the primary obstacles to the in-silico drug discovery market’s expansion: Lack Of Awareness About Safety And Health High Expense Of Techniques And Approaches High Levels Of Investment Are Required To Construct The Infrastructure For Healthcare Future expansion opportunities for the in-silico drug discovery market include: Growing Use Of Modern Biomarker Identification Tools Increasing Government Expenditures On R&D Growing Alliances And Partnerships Between Top Academic Institutions And Businesses Involved In Biotechnology And Pharmaceuticals Key Industry Insights & Findings from the Report: The industry is being propelled by technological advancements in computational biology, a growing emphasis on reducing prescription errors, and the expanding utilization of cloud-based technologies in the field of drug discovery. The globe in-silico drug discovery industry is driven by the growth of novel pharmacological compounds and the swift progression of computational biology technology. In 2023, North America controlled the market and contributed to the global revenue share. The largest share of the in-silico drug discovery market was occupied by preclinical experiments. An increasing number of entities are conducting preclinical trials for a variety of reasons, including the demand for more effective medications, the increasing complexity of diseases, and regulatory constraints. List of Prominent Players in the In-silico Drug Discovery Market: Aragen Life Sciences Pvt. Ltd. Curia Global, Inc. Certara, USA. Charles River Chemical Computing Group ULC. Collaborative Drug Discovery Inc. Dassault Systemes e-therapeutics plc. Evotec Insilico Medicine Ligand Pharmaceuticals Incorporated Numerate, Inc. PerkinElmer Inc. Schrödinger, Inc. Selvita Simulations Plus Tracxn Technologies WuXi AppTec Others Recent Developments: January 2022: Insilico Medicine formed a partnership with Fosun Pharma, a Chinese healthcare provider. To generate a new therapeutic portfolio, Insilico's AI-driven, end-to-end drug discovery platforms will be integrated with the clinical development and marketing expertise of Fosun Pharma. April 2021: The E.U. funded the Italian startup InSilicoTrials Technologies' 3 Horizon 2020 project, which aims to use in silico trials to support the development of cutting-edge medical technologies. Future market expansion for computer simulation trials for medical devices is anticipated to benefit from such initiatives. October 2020: The cloud-based software platform for enhancing and automating the biological processes of the enzyme-linked immunosorbent test (ELISA) has been launched by Synthace Ltd. Researchers are now able to create and run automated ELISA protocols with flexibility thanks to the Software Antha. In-silico Drug Discovery Market Dynamics: Market Drivers: Growing Usage of Cloud-Based Software The growing use of cloud technologies is driving the in-silico drug discovery sector. Pharmaceutical researchers can grow their computing environment as needed owing to cloud computing, which gives them access to nearly infinite processing resources. Organizations can more easily adapt solutions to meet their requirements. For instance, B.T.'s Cloud Compute life sciences platform can offer particular pharmaceutical applications from discovery to commercial operations, ensuring that the necessary applications function across pipelines rather than requiring all pipeline teams to use the same application. By allowing drug developers to examine past data as part of their clinical research operations, these tools boost overall productivity and lower the risk of clinical failure. Challenges: Limited Time For Analysis The market for in-silico drug discovery is only constrained by its brief duration. This approach has analysis periods ranging from tens to hundreds of nanoseconds, and it is computationally demanding depending on the size of the stimulated systems. This is problematic because the time interval, which can be anywhere from milliseconds to seconds, is often too brief to detect protein folding. This may lead to an inadequate sampling of protein conformations as a result. North America is Expected to Grow with the Highest CAGR During the Forecast Period In North America, the in-silico drug discovery market is likely to register a significant revenue share and develop at a rapid CAGR over the forecast period. This is explained by the critical need for therapies for uncommon illnesses like Lou Gehrig's disease and cystic fibrosis. Furthermore, U.S. biopharmaceutical businesses are spending more on research and development. U.S. investments in R&D and medicine reached over $250 billion in 2020. The growth of the industry can also be attributed to a more advanced network between manufacturers and service providers than in any other area. Additionally, the U.S. FDA's assistance has cleared up a number of concerns regarding the co-development process and contributed to the creation of a flexible regulatory pathway. The market is also being driven by the existence of strong vendors, technological advancements, an increase in the number of patients with a range of infectious and chronic diseases, and a growing government focus on enhancing the healthcare system. Segmentation of In-silico Drug Discovery Market- By Product Software Software-as-a-Service (SaaS) Consultancy-as-a-Service By Workflow Discovery Target Identification Bioinformatics Reverse Docking Protein Structure Prediction Target Validation Lead Discovery Library Design Pharmacophore Preclinical Tests Clinical Trials By Technology Artificial Intelligence Graphics Processing Unit (GPU) Other Technologies In-Silico Fishing RNN for Drug Design By Software Type Molecular modelling and de novo drug design software Pharmacophore Modelling software By End User Contract Research Organizations Pharmaceutical and Biopharmaceutical Companies Academic and Research Institutes Others By Region- North America- The US Canada Mexico Europe- Germany The UK France Italy Spain Rest of Europe Asia-Pacific- China Japan India South Korea South East Asia Rest of Asia Pacific Latin America- Brazil Argentina Rest of Latin America Middle East & Africa- GCC Countries South Africa Rest of Middle East and Africa Talk with Experts Panel on the In-silico Drug Discovery Market Report @ Call: North America +1 551 226 6109 Email: diana.dsouza@insightaceanalytics.com