The global computational biology market size reached USD 5.35 Billion in 2021 and is expected to register a revenue CAGR of 21.0% during the forecast period.
The global computational biology market size reached USD 5.35 Billion in 2021 and is expected to register a revenue CAGR of 21.0% during the forecast period. Market revenue growth is expected to be driven by factors, such as increasing availability of improved computational tools for genome sequencing, increasing investment in Research and Development (R&D) in genetic engineering and new drug discovery, emergence of Contract Research Organisations (CROs) to assist research organizations, and growing demand for biological data for research.
Increasing availability of improved computational tools for genome sequencing is expected to increase demand for computational biology. Numerous computational programs are available that help with the design of primers for Polymerase Chain Reaction (PCR), show restriction enzyme cut sites on any piece of Deoxyribonucleic Acid (DNA), and translate DNA sequences into amino acid sequences and others. Similarly, using available databases and sequence analysis software, a wide array of information can be obtained about a gene’s structure, its encoded message, and the putative function of its encoded protein. Numerous approaches in computational biology can be applied along with other tools for interpretation of biological databases and aid in resequencing studies. This is expected to increase demand for computational biology and thereby drive revenue growth of the market during the forecast period.
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Increasing investment in Research and Development (R&D) in genetic engineering and new drug discovery by public as well as private companies, is expected to contribute to growing demand for computational biology significantly. The application of sophisticated algorithms and statistical models in computational biology to analyze biological data enables researchers to gather critical insights which can be utilized for discovery of new drugs. Moreover, application of machine learning and artificial intelligence had allowed researchers to develop a better understanding of biological systems, discovering new drugs, designing new proteins to cure diseases, and help in understanding genetic code to predict diseases. Several startups in computational biology provide software platform that contributes to the pharmaceutical development process. This is expected to contribute to revenue growth of the market.
Emergence of Contract Research Organisations (CROs) to assist research organizations has led to a significant growth of the market over the forecast period. Contract Research Organization (CRO) pro service providers work with clients to develop a customized plan as per the requirements. The services include project-based contract research and consulting. In addition, service providers provide support at different phases of the research cycle, from experimental design to publication. For instance, the Bioinformatics CRO, Inc. is a contract research organization that offers bioinformatics services to biotechnology companies worldwide. They help their clients in building custom analytical pipelines to generate more critical insights from data. They can further analyze gene expression data from bulk and single-cell RNA-sequence, and perform network analysis such as Weighted Gene Co-expression Network Analysis (WGCNA). They can also analyze epigenomic data, which include DNA methylation, chromatin modifications, and non-canonical histone usage. Various sectors such as the pharmaceutical, biotechnology, and medical device sector that use computational biology for developing their products and lack in-house research facilities often outsource their research on a contract basis to CROs.
Increasing need for biological data for research is expected to raise demand for computational biology. The field of computational biology uses large collections of biological datasets, such as genetic sequences protein samples and develops computational methods to analyze and make predictions. The data can be further used to conduct research, develop, and implement algorithms or tools that address questions or challenges. Similarly, with the advent of Next-Generation Sequencing (NGS) technologies, a large volume of sequence data of DNA is available. Various algorithms in computational biology can be used to generate process data and analyze variants of sequence. The sequence data can be further used to determine the order of nucleotides in entire genomes or targeted regions of DNA or Ribonucleic Acid (RNA). This is thereby expected to raise demand for computational biology and thereby drive revenue growth of the market significantly.
Driver: Increasing availability of improved computational tools for genome sequencing is a key revenue growth driving factor
Increasing availability of improved computational tools for genome sequencing is expected to lead to a rise in demand for computational biology. Computational programs help in designing primers for PCR, show restriction enzyme cut sites on any piece of DNA, and translate DNA sequences into amino acid sequences and others. The increasing availability of databases and sequence analysis software help scientists obtain immense information on the structure of genes, their encoded message, and many more. The use of computational tools enhances the efficiency of the drug design process by identifying functionally important protein sequences in these large databases. For instance, microbial genomes contain protein targets which can be utilized to kill pathogens or develop useful enzymes which can be commercialized further. The most effective method for sifting out useful proteins from these genomic databases relies on the computer-based prediction of protein function.
Additionally, rapid development of sequence design tools aids researchers to redesign existing genes for optimized protein expression. Such computational tools aid the design of synthetic DNA sequences based on functional blocks called genetic parts. For instance, GenoCAD is a tool that facilitates the construction of artificial DNA sequences by relying on formal design strategies and the notion of grammars, sets of rules describing the structure of DNA sequences. This is expected to contribute significantly to revenue growth of the market during the forecast period.
Restraint: Lack of skilled professionals and lack of standardization are key factors restraining market revenue growth
Lack of skilled professionals and standardization has been a restraining factor for growth of global computational biology market. Study of computational biology requires adequate proficiency in mathematics, statistics, and programming along with a strong understanding of cloud platforms as well a strong knowledge of biological sciences. Moreover, computational biology is an interdisciplinary subject and the absence of a standard curriculum is expected to hamper the skill development of young graduates. Furthermore, computational biology lacks standard protocols to detect complications such as allergic reactions and other post-surgery complications. These factors are expected to hinder revenue growth of the market.
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Application Outlook:
Based on application, global computational biology market has been segmented into cellular and biological simulation, drug discovery, disease modeling, and others. Cellular and biological simulation segment is further sub-segmented into computational genomics and proteomics, pharmacogenomics, and others. Cellular and biological simulation segment is expected to account for largest market share over the forecast period. Rapid development in mathematical modeling and simulation has helped in understanding and describing the emergence of biological functions from the complex network of interactions existing between cellular components. Cellular and biological simulation further helps in understanding cellular behavior from different kinds of molecular interactions which form complex networks. The availability of multiple types of data has led to the defination of multiple modeling frameworks and owing to this, models of biochemical systems are mostly focused on one of the three main layers in which cellular processes are divided which are signaling, gene regulation, and metabolism. Similarly, the availability of a significant amount of experimental data and the massive complexity of cell components have led to rise in demand for huge computational requirements for the simulation of a single cell which is expected to increase demand for cellular and biological simulation. This is expected to drive revenue growth of the segment significantly.
Service Outlook:
Based on service, global computational biology market has been segmented into in-house and contract. Contract segment accounted for largest revenue share in 2021. Contract Research Organizations (CRO) provide services to private enterprises and start-ups to conduct biomedical research worldwide more efficiently. It provides research services to companies using computational biology and working in various industrial verticals such as pharmaceutical, biotechnology, and medical device industry. CROs further help their clients by providing guidance and expertise to conduct safe and efficient clinical trials. They execute clinical trial protocols as per rules established by regulatory agencies and Good Clinical Practice (GCP) standards. Rising demand for CRO is expected drive computational biology market and is thereby expected to drive revenue growth of the segment during the forecast period.
End-use Outlook:
Based on end-use, global computational biology market has been segmented into academics, commercial, and pharmaceutical. Commercial segment is expected to register a rapid CAGR during the forecast period. The growth and demand for computational biology relies upon developments in computer hardware and software. The IT services market is expected to grow significantly and this is expected to contribute to rising demand for computational biology. Similarly, rapid advancement in specialized AI chips processes and availability of large amount of real-time data is further expected to contribute to growth of the market. An AI accelerator is a high-performance parallel computation machine that is specifically designed for the efficient processing of AI workloads such as neural networks. Accelerators can facilitate large-scale simulation of stochastic biochemical reaction networks. Additionally, computational biology can be used to define early risks during drug discovery programs and help to target specific candidates that have lowest potential for failure. Similarly, various approaches in computational biology can be applied along with next-generation sequencing as an important tool for the interpretation of mutational information from large-scale resequencing studies This is expected to contribute to revenue growth of the segment significantly during the forecast period.
Regional Outlook:
Based on regional analysis, the market in North America is expected to account for largest revenue share over the forecast period. The robust presence of key companies in the countries in the region is expected to drive market revenue growth. Rapid growth of the IT industry and ease of doing business in the region has led to rise of numerous start-ups working toward developing simulation software and drug development. According to the latest 2019 World Bank annual ratings, the US is ranked 6 among 190 economies in the ease of doing business. In addition, increasing investment in the development of IT hardware devices such as AI chips is expected to enhance the performance of AI algorithms, boost computational powers of processors, and facilitate better precision and accuracy in results. This is expected to boost revenue growth of North America computational biology market significantly.
The market in Europe is expected to register rapid revenue CAGR over the forecast period, owing to increased investment to boost research and industrial capacity by the government of the countries in the region as well as growing collaboration between industry and academics to conduct research and development. For instance, the government of Switzerland has set the objective of becoming a world leader in systems biology and has announced plans to invest a significant amount in the field of systems biology. OnMay 24, 2021. the World Health Organization (WHO) and the Swiss Confederation had signed a Memorandum of Understanding (MoU) to launch the first WHO BioHub Facility as part of the WHO BioHub System. The facility is established in Spiez, Switzerland, and serves as a center for the safe receipt, sequencing, storage, and preparation of biological materials for distribution to other laboratories, and inform risk assessments and support global preparedness against pathogens. Similarly, the Horizon 2020 program has received significant investment from European Commission, intending to remove barriers to innovation and facilitate better collaboration between public and private sectors for better innovation. This is expected to support growing demand for computational biology and thereby drive revenue growth of the market in the region.
The market in Asia Pacific is expected to register a steady revenue CAGR over the forecast period in the global market during the forecast period. Rapid increase in population and increasing incidence of chronic diseases has led to rising demand for healthcare services. According to the World Bank, common disorders such as hypertension, cardiovascular diseases, and diabetes accounted for nearly 90% of deaths in China and 74% of deaths globally, in recent years. This is expected to lead to growing demand for computational biology in drug discovery and disease modeling and thereby drive growth of the market. Additionally, rapid boom in the pharmaceutical industry in the countries of the region owing to the availability of cheap Active Pharmaceutical Ingredients (API) and cheap labor is further expected to drive growth of the market.
Competitive Landscape:
Competitive landscape of global computational biology market is moderately consolidated with few companies operating at global and regional levels. Key companies are engaged in strategic alliances to expand their respective portfolios and gain a robust footing in the global market. Major companies in the market include Dassault Systemes, Certara, Inc. (EQT Partners AB), Chemical Computing Group ULC (Altaris Capital Partners), Compugen Ltd, Rosa & Co. LLC., Genedata AG, Yokogawa Insilico Biotechnology GmbH, Leadscope Inc.( Instem Group of Companies), Nimbus Therapeutics, Inc., and Rhenovia Pharma SAS.
- On March 21, 2022, Compugen Ltd., an Israel-based clinical-stage cancer immunotherapy made a presentation at the Keystone Symposium on the subject, Cancer Immunotherapy: Decoding the Cancer Immunity Interactome on exploring the Immune-Tumor Microenvironment (TME) using high resolution single-cell spatial transcriptomics. The presentation demonstrated how the company is using its high-resolution single-cell spatial mapping of immune cells to decipher this complexity and further leveraging its long-term expertise in computational immuno-oncology biology The company has further employed its cutting edge technology to provide a view into the composition and spatial localization of individual cells in the TME.
Segments Covered in the Report
This report offers historical data and forecasts revenue growth at a global, regional, and country-level, and provides analysis of the market trends in each of the sub-segments from 2019 to 2030. For the purpose of this report, Reports and Data has segmented global computational biology market based on application, service, end-use, and region:
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Computational Biology Market Report Scope
Segments covered By Application Outlook, Service Outlook, End-use Outlook, Regional Outlook
By Application Outlook
Cellular and Biological Simulation
Computational Genomics and Proteomics
Pharmacogenomics
Others
Drug Discovery
Disease Modeling
Others
By Service Outlook
In-house
Contract
By End-use Outlook
Academics
Commercial
Pharmaceutical
Regional scope
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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