The computer-aided drug discovery market size has the potential to grow by USD 21.75 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by therapeutic areas (oncological disorders, neurological disorders, and others.) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Aaranya Biosciences Pvt. Ltd., Albany Molecular Research Inc., Charles River Laboratories International Inc., ChemBio Discovery Inc., Chemical Computing Group ULC, CompChem Solutions Ltd., International Business Machines Corp., Kang Yusheng Information Technology Co. Ltd., OpenEye Scientific Software Inc., and Pharmaron Beijing Co. Ltd.
Market Overview
Market Competitive Analysis
The computer-aided drug discovery market is fragmented. CompChem Solutions Ltd., International Business Machines Corp., Kang Yusheng Information Technology Co. Ltd., OpenEye Scientific Software Inc., and Pharmaron Beijing Co. Ltd. are some of the major market participants. Most of the vendors are opting for strategic partnerships to innovate and expand their market presence. Although the growing need for reducing healthcare costs will offer immense growth opportunities, frequent changes in healthcare regulatory compliance requirements will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this computer-aided drug discovery market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this computer-aided drug discovery market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- Aaranya Biosciences Pvt. Ltd.
- Albany Molecular Research Inc.
- Charles River Laboratories International Inc.
- ChemBio Discovery, Inc.
- Chemical Computing Group ULC
- CompChem Solutions Ltd.
- International Business Machines Corp.
- Kang Yusheng Information Technology Co. Ltd.
- OpenEye Scientific Software Inc.
- Pharmaron Beijing Co. Ltd.
Computer-aided Drug Discovery Market: Segmentation by Region
North America was the largest computer-aided drug discovery market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The early adoption of technology and the increasing investments by market players will significantly influence computer-aided drug discovery market growth in this region.
Almost 50% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for computer-aided drug discovery in North America. Market growth in this region will be faster than the growth of the market in other regions.
Computer-aided Drug Discovery Market: Segmentation by Therapeutic Areas
Oncological disorder is a therapeutics area wherein the researchers are specialized in the diagnosis and treatment of cancer. The computer-aided drug discovery market is growing owing to the increase in the need for CADD in the oncological disorders segment. Using CADD, end-users can improve the quality of early clinical drug evaluation and preclinical research, which could lead to higher approval rates of anticancer drugs.
The computer-aided drug discovery market share growth by the oncological disorders segment will be faster than the growth of the market by the other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the computer-aided drug discovery market size.
Computer-aided Drug Discovery Market: Key Drivers and Trends
The adoption of computer-aided drug discovery process is increasing, among research and development institutions and healthcare organizations, to meet the rising need to reduce healthcare costs. CADD has the potential to reduce traditional medical costs and improve drug discovery and significantly reduce labor costs. Also, end-users of CADD can use various data science techniques to create models that reduce the costs of health plans and medical experts by early prediction of high-cost condition risks. Moreover, deploying CADD software in the cloud instead of investing in medical equipment would reduce costs and improve healthcare agility and scalability. Hence, the growing need for reducing healthcare costs and the benefits of using CADD will drive the CADD market growth during the forecast period.
- Technology companies and medical organizations are taking advantage of CADD solutions to develop precision medicine in multiple ways, which is one of the critical computer-aided drug discovery market trends.
- Precision medicine is the latest emerging medical advancement in the healthcare sector, which allows researchers and doctors to identify accurate and preventive treatments for disease.
- Drug development companies are increasingly adopting CADD solutions to accelerate drug discovery and to detect the hidden biomedical data and decide on the potential treatment for diseases.
- In June 2019, Tempus Inc., a Chicago-based biotechnology company, raised USD 200 million in a Series F funding round to use AI-enabled CADD solutions to develop precision medicine to improve patient care.
- The global computer-aided drug discovery market is expected to grow at a CAGR of almost 3% during the forecast period.
Computer-Aided Drug Discovery Market: Key Highlights of the Report for the Forecast Period 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive computer-aided drug discovery market growth during the next five years
- Precise estimation of the computer-aided drug discovery market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the computer-aided drug discovery market industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of computer-aided drug discovery market vendors