February 14, 2022 04:23 ET | Source: Vantage Market Research Vantage Market Research
WASHINGTON, Feb. 14, 2022 (GLOBE NEWSWIRE) — Computational Biology is the inter-disciplinary applied science that utilizes concepts of basic biology through the use of mathematical, theoretical, and computer simulation models to study biological systems. Increase in Research and Development (R&D) for drug discovery, demand for predictive models, and usage in population based sequencing projects such as human genome project and government funding are the factors fuelling the market growth. These are some of the benefits Computational Biology Market that are expected to flourish in coming years, states Vantage Market Research, in a report, titled “Computational Biology Market by Application (Cellular & Biological Simulation, Drug Discovery & Disease Modelling, Preclinical Drug Development, Clinical Trials), by Services (In-house, Contract), by End-Use (Academics, Industry, Commercial), by Region (North America, Europe, Asia Pacific, Latin America) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”.
The market size stood at USD 4.14 Billion in 2021. The Global Computational Biology Market size is expected to reach USD 10.82 Billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 18.1% during the forecast period.
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List of Prominent Players in the Computational Biology Market:
The report on Computational Biology Market highlights:
Increasing Number of Clinical Studies in Pharmacogenomics
Computational Biology has a wide range of applications in the fields of genomics, proteomics, pharmacogenomics, and drug discovery. For drug discovery and clinical trials, many companies approach third-party services, and have to maintain Computational Biology setups for carrying out various drug discovery processes. Many third-party services and small laboratories that maintain Computational Biology setups are expected to gain huge profits, as they successfully reduce the overall time needed for drug discovery and various other scientific experiments. This is one of the factors that is driving the demand for Computational Biology Market.
High Cost of Computational Biology Software
The software and database required for Computational Biology analysis is relatively costlier. Maintaining data on cloud servers requires trained professionals which makes the software more expensive. Increasing number of bioinformatics research and rising number of clinical trials makes the maintain costs higher. Renowned universities and companies are currently able to afford the software which makes small laboratories and companies to grow slowly in this segment. This is one of the factors that are hindering the market growth.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. The Computational Biology Market also had a huge impact. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. These actions led to a severe impact on the global economy impairing various industries. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data- points:
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Increasing Growth of Computational Biology Market in North America
The Asia Pacific is expected to grow at the fastest rate during the forecast period, owing to the prevalence for increase in number of well-established computational biological companies and research institutes in the US and Canada. Also, large number of on-going research studies and growth of the overall biology sector on a global scale are among the few factors expected to contribute to the growth of this market. Key players spending huge funds in Research and Development (R&D) are also one of the factors that are booming the development of Computational Biology Market in this region. For instance, In April 2021, Peptilogics, a biotechnology platform company leveraging computational design to discover novel peptide therapeutics, announced the successful completion of a Phase 1 clinical trial for its lead compound PLG0206, a potent, broad-spectrum anti-infective that has been granted FDA Orphan Drug Designation and Qualified Infectious Disease Product Designation for its initial focus on the treatment of prosthetic joint infections (PJI).
North America is anticipated to showcase largest growth over the forecast period. This is owing to government-funded population-based studies and foreign investments. For instance, each year, the New South Wales (NSW) provincial government provides funding to the aspirant researchers in genomic medicine research at the Garvan Institute of Medical Research. Moreover, supportive regional government policies and initiatives are expected to propel the regional market in the forthcoming years.
Browse market data Tables and Figures spread through 158 Pages and in-depth TOC on “Computational Biology Market by Application (Cellular & Biological Simulation, Drug Discovery & Disease Modelling, Preclinical Drug Development, Clinical Trials), by Services (In-house, Contract), by End-Use (Academics, Industry, Commercial), by Region (North America, Europe, Asia Pacific, Latin America) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)” View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/computational-biology-market-116629
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