FREMONT, California, Feb. 12, 2020 /PRNewswire/ -- According to a new market intelligence report by BIS Research titled "Global In-Silico Drug Discovery Market- Analysis and Forecast, 2019-2029", the global in-silico drug discovery market was valued at $2.09 billion in 2018 and is anticipated to grow over $7.92 billion by 2029. The market is expected to grow at a CAGR of 12.92% during the forecast period from 2019 to 2029. The market is aided primarily by the impressive growth in the underlying services market.
Drug discovery process is carried out to identify new drug molecules that can attach to a specific target. This method of identifying drugs is based on computation and the entire process is considered linear and consecutive. Various factors make in-silico drug discovery method more productive and a wise approach in comparison to earlier drug discovery methods used for the drug development process. In-silico drug design can play a significant role in all stages of drug development – from the initial lead designing to final stage clinical development.
The costs incurred by a pharmaceutical company to bring a drug to market from laboratories through the drug discovery process used before 2010 approached $2 billion with approximately 12 years required for development. However, through in-silico drug discovery, the process cost has reduced to approximately $880 million, and development process can be completed within 10 to 12 years.
According to Nitish Kumar Singh, Lead Analyst at BIS Research,"North America is the leading contributor in the in-silico drug discovery market and contributed approximately 41.65% to the global market value in 2018. This region is anticipated to grow at a significant CAGR during the forecast period 2019-2029 and continue dominating the global market in 2029. However, the Asia-Pacific region is expected to grow at the highest CAGR of 13.29% during the forecast period. In addition, the region of Europe also contributed a significant share of 28.40% to the global market in 2018."
Software-as-a-service is expected to witness a robust CAGR during the forecast period 2019-2029. However, in-silico drug discovery market for software-as-a-product is anticipated to witness a double digit growth during the forecast period 2019-2029.
Charles River is currently the largest shareholder in the global in-silico drug discovery market. Its market dominance is attributed to the company's presence within the market through its services, led by dedicated products.
This market intelligence report provides a multi-dimensional view on the global in-silico drug discovery market in terms of market size and growth potential. This research report aims at answering various aspects of the global in-silico drug discovery market with the help of key factors driving the market, restraints that can possibly inhibit the overall growth of the market, and the current growth opportunities that are going to shape the future trajectory of the market expansion.
Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, such as product launches and approvals, partnerships, collaborations, business expansions, as well as mergers and acquisitions, among others. The research report provides a comprehensive analysis of the product sales, manufacturers, service providers, and trend analysis by segment, and growth share analysis by region. Additionally, the report provides a comprehensive analysis and an opportunity analysis for the entire in-silico drug discovery market for 2018 and 2029.
This report is a meticulous compilation of research on more than 80 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 20 leading and emerging companies, market participants, and vendors. The report also comprises 17 detailed company profiles including several key players, such as Albany Molecular Research Inc., Certara USA, Inc., Charles River, Chemical Computing Group ULC, Collaborative Drug Discovery Inc., Dassault System (Biovia) , Evotec A.G., GVK Biosciences Private Limited, ICAGEN, INC., Novo Informatics Pvt. Ltd., Numerate Inc., PerkinElmer Inc, Schrödinger, LLC, Selvita, Simulation Plus, and WuXi AppTec, among others.
Key Questions Answered in the Report
What was the revenue generated by the in-silico drug discovery market in 2018 and what is it expected to generate by 2029?
What are the major market drivers, challenges, and opportunities in the global in-silico drug discovery market?
What are the key development strategies which are implemented by the major players in order to sustain in the competitive market?
What are the key regulatory implications in developed and developing regions for in-silico drug discovery market?
How each segment of the market is expected to grow during the forecast period from 2019 to 2029, based on:
Product type: Software-as-a-service, and consultancy-as-a-service
Workflow: Discovery, pre-clinical tests, and clinical tests
Software: Molecular modeling, and pharmacophore modeling
End user: Contract research organizations, pharmaceutical industry, academic and research institutes (hospitals and other care facilities)
Region: Region includes North America, Europe, Asia-Pacific, Rest-of-the-World (ROW)
Who are the leading players with significant offerings to the global in-silico drug discovery market? What is the expected market dominance for each of these leading players during the forecast period?
Which companies are anticipated to be highly disruptive in the future and why?
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