Global Computer-Aided Drug Discovery Market Likely to Emerge Over a Period of 2020 – 2027
Pune, New York, USA, November 30 2020 (Wiredrelease) Research Dive –:According to a study conducted by Research Dive, the global computer-aided drug discovery market forecast size is expected to reach $4,878.5 billion by the end of 2026, registering 15.5% CAGR over the forecast period.
Computer-aided drug design utilizes computational methods to analyze, develop, and discover similar biologically active molecules. The ligand-based computer-aided drug discovery (LB-CADD) method includes the understanding of ligands which are known to interrelate with a targeted disease. These procedures use a set of referral structures that are collected from compounds known to interact with the target of interest and analyze their 2D or 3D structures.
The rising usage of pharmaco dynamics and pharmaco kinetic modelling in pre-clinical advancements is anticipated to drive the computer-aided drug discovery market’s growth in the recent years. In addition, the rapid growth in the demand for latest technologies to decrease the cost associated with drug discovery and development is the major factor for the growth of computer-aided drug discovery market.
Inspite of various positive factors, improper standardization in the drug discovery methodology has been a major point of concern. Along with the afore mentioned factor, insufficient knowledge about various biological systems and processes due to which the drug development fails are the major factor that may hamper the market growth.
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The global computer-aided drug discovery market is analyzed on the basis of type into Structure based drug design (SBDD), Ligand-Based Drug Design (LBDD) and Sequence-Based Approaches. Among these, the structure-based drug design market segment is expected to drive the computer-aided drug discovery market growth which is anticipated to reach $1,585.5 billion by 2026, growing at CAGR of 15.8% during the forecast period. However, LBDD segment had the highest market share in the year 2018 accounting for $606.9 billion and is expected to reach $1,878.2 billion by 2026 growing ata CAGR of 15.2% during the projected timeframe. This dominance is mainly attributed to the usage of LBDD that is the first step in developing any drug and understanding a disease molecular structure, and developing a drug suitable to resist the disease is a time taking process.
On the basis of the therapeutic area, the global computer-aided drug discovery market is categorized into oncology, neurology, cardiovascular disease, respiratory disease and diabetes and others. Among these, the market for oncology segment held the largest market share in 2018 accounting for $355.8 billion. Cardiovascular diseases segment is anticipated to dominate the computer-aided drug discovery market during the forecaste period. This is because the number of patients suffering from cardiovascular diseases globally is increasing. Thus, to fight the various cardio vascular diseases, the key players are investing huge in developing better and enhanced drugs.
The global computer-aided drug discovery market has been classified regionally into North America, Europe, Asia-Pacific, and LAMEA.
The North America region held the largest market value in 2018 accounting for $432.9 billion and is anticipated to reach $1,283.1 billion by 2026, growing at a CAGR of 14.5% during the forecast period. Asia-Pacific region is expected to dominate the computer-aided drug discovery market; this growth is majorly due to the growing R&D expenditure by the organizations that are present in this region. The number of people suffering from various diseases in this region is also growing due to the lack of money to buy costly medicines. Asia-Pacific region accounted for $411.3 billion in 2018 and is expected to reach $1,361.1 billion by 2026, growing at a CAGR of 16.1% during the forecast period.
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Top gaining participants of global computer-aided drug discovery market are BOC Sciences, Schrödinger, Aragen Bioscience, AstraZeneca, Albany Molecular Research Inc. (AMRI), BioDuro, Aris Pharmaceuticals, Charles River, Evotec A.G. and Bayers AGamong many others. These key participants are concentrating on product improvements, mergers & acquisitions, collaborations and new product launches to gain majority of the market share in the overall Computer-Aided Drug Discovery industry.
Porter’s Five Forces Analysis for Computer-Aided Drug Discovery Market:
1. Bargaining Power of Suppliers: The key players present in this market arelimited and are catering the demand of computer-aided drug discovery due to which the supplier’s power is High.
2. Bargaining Power of Consumers: The number of consumers is very highand thus the bargaining power of consumers is Low.
3. Threat of new entrants: Initial investment to setup a computer-aided drug discovery organization is very high and thus the threat of new entrants is Low.
4. Threat of substitutes: There is no alternative for computer-aided drug discovery, and thus the threat of substitutes is Low.
5. Competitive rivalry in the industry: This market includes a few market participants. Many of the key players are following similar strategies for the improvement of technologies.
The competitive rivalry in the industry is High.
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