Computational Biology Market Demand 2022-2030: Increasing Availability of Improved Computational Tools for Genome Sequencing
According to the current analysis of Reports and Data, the global Computational Biology market was valued at USD 5.35 Billion in 2021 and is expected to reach USD 29.49% Billion by the year 2030, at a CAGR of 29.49 % . Science is massively benefitted from data processing, such as computational biology. Computational biology is an interdisciplinary field of biology that applies computational methods for analyzing biological data, such as genetic sequences, cell populations, and protein samples, to discover new predictions. The computational techniques used in computational biology include analytical methods, mathematical modeling, and simulation. Moreover, new technologies such as sequencing, and high-throughput experimental methods like microarray, yeast two-hybrid, and chip-chip assays are creating enormous and increasing amounts of data that can be analyzed and processed effectively and hassle-free using computational techniques.
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The drive-in technological advancements have now opened the door to a world of innovation in the field of healthcare. Computational genetics is disciplinary of computational biology where homology and internal biological mechanism are studied using genome sequencing. The Human Genome Project is a classic example where the whole human genome was sequenced successfully. Computational biology also finds application in neurology, in which it is used to map complex interlinked pathways to visualize 3D simulation models of the brain. The medical advantage of computational biology is anticipated to boost the market during the forecast period. Additionally, computational pharmacology also uses tools of computational biology to visualize and simulate advanced drug-drug interactions in the drug designing process.
Government funding, increasing research and developments, increase in demand for predictive modeling and application in various sequencing projects, such as the human genome project, are some of the factors that support the market growth during forecast years. The rising demand for predictive models is, therefore, expected to boost the growth of the global computational biology market significantly. Moreover, the increasing funding from governments as well as private organizations for R&D in this field supports market growth. The widening application of computational tools in genomics, drug development programs & drug designing, and other such areas is expected to reduce the lead time of drug commercialization, therefore, reduce the average cost. However, unfavorable government scenario, the high initial cost and maintenance costs of the instruments, lack of standardization and shortage of skilled workforce is likely to be a significant hindrance to market growth.
Further key findings from the report suggest
- Computational Biology market is growing at a CAGR of 2% in Asia-Pacific due to owing to increased spending on research works in pharmacogenomics and pharmacokinetics in clinical studies for new drugs in the region.
- In-house services are expected to be the fastest growing service segment during the forecast period 2019-2027. Several funding and R&D initiatives are undertaken by private institutions, and biopharmaceutical companies for the detection of a biomarker for drug development and disorder are driving the market growth.
- North America region accounted for nearly 45% of the market share in 2019 owing to increasing R&D activities for drug discovery processes and development of new biological computation tools.
- Several funding and R&D initiatives are undertaken by private institutions, and biopharmaceutical companies for the detection of a biomarker for drug development and disorder are driving the market growth.
- Computational Genomics segment is expected to witness lucrative growth attributing to the recent technological advancements in cloud computing and other IT technologies. For instance, the Epidemiology and Genomics Research Program (EGRP) grants endowment to research-related activities and related need for personalization in healthcare owing to genetic variations, expanding application in non-oncology diseases,
- Market players are adapting various organic and inorganic expansion strategies. For instance, Paragon Genomics Introduces CleanPlex CFTR Panel and unveils new fusion detection enables identification of known and novel gene fusions as diagnostic and prognostic markers for tumor progression. The CFTR Panel leverages Paragon Genomics' CleanPlex technology in a multiplex PCR-based targeted resequencing assay designed to simplify the evaluation of somatic and germline variants across the Cystic Fibrosis Transmembrane Conductance Regulator (CFTR) gene.
- Bioinformatics expanded to the development and the use of computational tools for the biological interpretation of the large amounts of data. There is a very heterogeneous scientific community that covers all aspects of today’s genetic research. In the coming years the commitment to bioinformatics and system biology will be extended even further with increased funding and explicit commitment to both of these areas.
- Recently, in November 2019, Alibaba funded Hong Kong biotech firms to boost investments. The fund has invested in Hong Kong-based Prenetics, which provides genetics testing solutions for cancer screening and pharmacogenomics
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
Chemical Computing Group, Compugen, Simulation Plus, Genedata, Certara, Insilico Biotechnology, Accelrys, Rhenovia Pharma, Entelos, Nimbus Discovery, and Rhenovia Pharma
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Computational Biology Market Segmentation:
Application Outlook (Revenue, USD Billion; 2019-2030)
- Cellular and Biological Simulation
- Computational Genomics and Proteomics
- Drug Discovery
- Disease Modeling
Service Outlook (Revenue, USD Billion; 2019-2030)
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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