In-Silico Drug Discovery Market Is Set To Reach $5,682.3 million by 2030, says P&S Intelligence

NEW YORK, May 5, 2022 /PRNewswire/ -- In 2021, the global in-silico drug discovery market was worth $2,331.8 million, and it is expected to reach $5,682.3 million by 2030, at a 10.4% CAGR from 2021 to 2030. The technological advancements in computational biology, rising usage of cloud-based applications in drug discovery, and increasing focus on decreasing medication errors are the main factors propelling the market. In-silico drug design is being used for hit-to-lead selection and to speed up and simplify hit identification, as well as to enhance metabolism, absorption, excretion, toxicity profiles, and distribution.

Because of the coronavirus spread, a study was undertaken on many sorts of molecules to better understand the virus's shape and discover a treatment. Several attempts have been made at computational drug design by using primary SARS-CoV2 protease. Docking was used after the high-throughput virtual screening of millions of natural compounds and molecule databases. As a result of the never-ending attempts to develop particular medications for COVID–19, the in-silico drug discovery market experienced a positive impact.

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Key Findings of In-Silico Drug Discovery Market Report

• The increasing usage of cloud-based technologies is driving the in-silico drug discovery sector. Cloud computing gives pharmaceutical researchers access to nearly infinite computer resources and allows them to scale up and down their computing environment.
• In 2021, artificial intelligence had the biggest market share, of more than 40%. As the rate of data digitalization in the healthcare industry increases, AI is being utilized to handle challenges in gathering and evaluating information, to solve complex clinical problems.
• SaaS is expected to develop at the highest CAGR in the in-silico drug discovery market, of roughly 11% during the projected period. This is mostly because these solutions aid users in data analysis, decision making, and data mining, by providing decentralization, real-world data management, and a variety of other features.
• The rapid technological developments in the field of computational biology also fuel the worldwide in-silico drug discovery sector. In the creation of novel pharmaceutical compounds, computational techniques have proved effective. The data processing and analysis steps of sequencing have been simplified with the improvements in computational biology, thus resulting in faster turnaround times and improved accuracy.
• Fosun Pharma partnered with Insilico Medicine in January 2022. To create a new therapeutic portfolio, Insilico's end-to-end AI-driven drug discovery platforms will be merged with Fosun Pharma's clinical development and commercial experience.
• Insilico Medicine and the University of Zurich teamed up in March 2022 to leverage Insilico's dynamic AI technology to discover new cystinosis treatments

Medical and R&D spending in the U.S. is expected to exceed $250 billion by 2020. The market's growth can also be attributed to a developed network of manufacturers and service providers. Furthermore, the FDA's input has aided in a flexible regulatory route as well as the resolution of various questions concerning the co-development process.

Browse detailed report on Global In-Silico Drug Discovery Market Trends, Business Strategies and Analysis Through 2030

There are a number of big companies in the in-silico drug discovery market, which makes it fragmented. To keep ahead of the competition, they have entered into partnerships and collaborations in recent years. The players include Charles River Laboratories, Ligand Pharmaceuticals Incorporated, WuXi AppTec, Simulation Plus, Schrödinger Inc., Aragen Life Sciences Pvt. Ltd., Selvita, Curia Global Inc., Insilico Medicine, and Evotec.

In-Silico Drug Discovery Market Segmentation Analysis

By Product

• Software
• Software-as-a-Service
• Consultancy-as-a-Service

By Workflow

• Discovery
• Pre-Clinical Tests
• Clinical Tests

By Technology

• Artificial Intelligence

By End User

• Pharmaceutical and Biopharmaceutical Companies
• Contract Research Organizations
• Academic and Research Institutes

By Region

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa

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SOURCE P&S Intelligence