Dublin, Aug. 25, 2023 (GLOBE NEWSWIRE) — The “In Silico Drug Discovery Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Component, By Workflow, By Software Type, By Technology, By Therapeutic Area, By End User, By Company and By Region” report has been added to ResearchAndMarkets.com’s offering.
The global in silico drug discovery market is poised for significant expansion during the forecast period of 2023-2027. The market’s growth trajectory is underpinned by several major factors, including the escalating incidence of various diseases, the burgeoning adoption of cloud-based applications, and rapid technological advancements in the field. These factors collectively shape the market landscape, setting the stage for substantial growth over the coming years.
In silico methodologies have rapidly emerged as a cornerstone of the drug discovery process in recent times. With a profound impact on the entire drug development trajectory, these methodologies are revolutionizing the identification and discovery of potential new drugs while substantially reducing both cost and time expenditures.
Furthermore, the market’s growth is reinforced by extensive research and development efforts, the prevalence of diverse diseases, an increasing number of clinical trials, and a heightened focus on minimizing medical errors and readmission rates. The landscape is further enriched by a wave of investments and collaborations among companies, synergistically driving progress.
Cloud-Based Applications Ignite Growth
The ascent of cloud-based applications is a pivotal catalyst propelling the in-silico drug discovery market’s growth. Cloud computing has empowered pharmaceutical researchers with access to virtually limitless computational resources, offering the flexibility to scale computing environments as needed. This advancement has significantly enhanced overall productivity while simultaneously reducing the risk of clinical failure.
Technological Advancements Steer Progress
The global in-silico drug discovery market is also receiving impetus from rapid technological advancements within the realm of computational biology. These advances are proving pivotal in developing novel pharmaceutical compounds, optimizing various sequencing steps for faster and more accurate results.
For instance, notable collaborations between industry giants like Pfizer Inc. and Amazon Web Services (AWS) are yielding innovations such as cloud-based technologies that redefine how new medications are researched, manufactured, and disseminated for clinical trials. Similarly, partnerships like the one between Insilico Medicine and the University of Zurich are harnessing dynamic AI technology to uncover new treatments for challenging medical conditions, exemplifying the market’s dynamic nature.
Elevated Investments and Collaborations Fuel Progress
The landscape of the in silico drug discovery market is enriched by substantial investments in drug discovery and development, a trend that is well-aligned with the rising prevalence of various diseases.
A report published by the Pharmaceutical Research and Manufacturers of America (PhRMA) reveals that biopharmaceutical companies invested over a trillion dollars in research and development over the past decade. In fact, PhRMA’s member industries alone contributed around 91 billion USD in 2020, indicating a strong commitment to advancing medical science.
Moreover, the increasing number of partnerships between AI start-ups and leading research centers serves as a testament to the market’s momentum, setting the stage for robust growth in the years ahead.
As the in silico drug discovery market continues to evolve, these driving forces are primed to shape its trajectory, facilitating breakthroughs in drug development, disease management, and healthcare innovation. The forecasted period holds the promise of transformative advancements that will enhance medical science and patient care on a global scale.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global In Silico Drug Discovery Market
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Aragen Life Sciences Pvt. Ltd. (GVK Biosciences Pvt. Ltd.)
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Curia Global, Inc. (Albany Molecular Research Inc.)
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Charles River Laboratories International, Inc.
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Chemical Computing Group ULC. (CCG)
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Collaborative Drug Discovery Inc. (CDD)
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e-therapeutics plc.
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Dassault Systemes SE
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Insilico Medicine, Inc.
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Numerate, Inc.
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Schrodinger, Inc.
Report Scope:
In Silico Drug Discovery Market, By Component:
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Software
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Software-as-a-Service
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Consultancy-as-a-Service
In Silico Drug Discovery Market, By Workflow:
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Discovery
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Target Identification
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Target Validation
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Lead Discovery
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Pre-Clinical Tests
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Clinical Trials
In Silico Drug Discovery Market, By Software Type:
In Silico Drug Discovery Market, By Technology:
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Artificial Intelligence
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Graphics Processing Unit
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Others
In Silico Drug Discovery Market, By Therapeutic Area:
In Silico Drug Discovery Market, By End User:
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Biotechnology & Pharmaceutical Companies
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Contract Research Organizations
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Academic & Research Organizations
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Others
In Silico Drug Discovery Market, By Region:
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North America
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United States
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Canada
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Mexico
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Asia-Pacific
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China
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India
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Japan
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Australia
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South Korea
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Europe & CIS
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Germany
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France
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United Kingdom
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Spain
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Italy
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South America
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Brazil
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Argentina
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Colombia
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Middle East & Africa
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South Africa
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Saudi Arabia
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UAE
For more information about this report visit https://www.researchandmarkets.com/r/7zlkfm
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