Computational Biology Market, By Type (Cellular and Biological Simulation (Computational Genomics, Computational Proteomics, Pharmacogenomics, and Others (Transcriptomics/Metabolomic)), Disease Modeling and Simulation Applications (Drug Discovery, Drug Development)), By Tools (Content/Database, Analysis Software and Services, and IT Infrastructure (Hardware)),and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 6.6 Billion in 2023 and is expected to exhibit a CAGR of 17.6 % during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The strategies adopted by key market players like acquisitions is expected to drive the global computational biology market growth over the forecast period. For instance, on March 4, 2022, ZS, a U.S.-based global professional services firm, announced that it acquired Intomics, a Europe-based bioinformatics and system biology company. Intomics’s protein-protein interaction network can supports biomedical analysis for multiple diseases. Scientists and bioinformaticians use this network to understand disease biology at the pathway and molecular levels. The acquisition of Intomics can help ZS to assist its clients for intensive research and development and innovative medicines to improve patient’s life.
Global Computational Biology Market - Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems regarding the transportation of drugs from one place to another.
COVID-19 had a positive impact on the global computational biology market due to the increasing need for bioinformatics tools for the identification of protein structures, variants, genome, and mutation of virus. For instance, according to an article published by Briefing in Bioinformatics on November 4, 2020, the SARS-CoV-2 nanopore sequencing protocol was developed and optimized by the ARTIC network which has expertise in using this technology in the sequencing and surveillance of outbreaks. Nanopore sequencing is used to quickly generate high-accuracy genomes of SARS-CoV-2 and track the transmission of COVID-19 and viral evolution over time.
Global Computational Biology Market: Key Developments
The increasing launch of new information that can improve the efficacy of computational biology is expected to drive the market growth.
For instance, on March 14, 2022, Compugen Ltd., an Israel-based clinical stage drug discovery and development company announced that it was selected to give an oral presentation on exploring the immune-tumor microenvironment using high resolution single-cell spatial transcriptomics at Keystone Symposium on Cancer Immunotherapy that took place from March 20 to March 24, 2022, in Canada.
Browse 28 Market Data Tables and 25 Figures spread through 160 Pages and in-depth TOC on Computational Biology Market, By Type (Cellular and Biological Simulation (Computational Genomics, Computational Proteomics, Pharmacogenomics, and Others (Transcriptomics/Metabolomic)), Disease Modeling and Simulation Applications (Drug Discovery and Drug Development)), By Tools (Content/Database, Analysis Software and Services, and IT Infrastructure (Hardware)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/computational-biology-market-3915
Key Takeaways of the Global Computational Biology Market:
- The global computational biology market is expected to exhibit a CAGR of 6 % during the forecast period. Initiatives by non-government organizations to develop newer technologies is expected to accelerate its research and development activities. For instance, on December 7, 2021, Chan Zuckerberg Initiative, a U.S.-based community driven solutions company, announced that it will be focusing on developing new research, institutes, and technologies to measure and observe human biology in new ways to help deepen its understanding of human health and disease. It is a research institute that brings together scientist and engineers from areas like cell biology and infectious disease research. CZI is supporting the creation of new scientific institutes to take on grand scientific challenges in areas, such as imaging, artificial intelligence, infectious disease research, cell biology, and neuroscience, while building new technologies and tools to tackle them.
- Among type, the cellular and biological simulation segment is expected to dominate the global computational biology market over the forecast period owing to the launch of newer computational platforms. For instance, according to an article published by University of Surrey, a U.K.-based public research university, on September 20, 2021, scientists have launched a software, BioDynaMo that is able to perform highly complex simulation. It was found that BioDynaMo can simulate complex medical cases in neuroscience, oncology, and epidemiology owing to its ability to utilize multi-core CPUs and offload computations to hardware accelerators. The results showed that BioDynaMo performs up to 945 times faster than current state-of-the-art baselines. The advances make it feasible to simulate each use case with one billion cells on a single server, showcasing the potential of BioDynaMo for computational biology research.
- Among region, North America is expected to be the dominant region in the global computational biology market, owing to the increasing launch of newer technologies of computer biologics in the region. For instance, on September 25, 2020, HealthCare Global Enterprises, an India-based cancer care provider, announced a collaboration with Strand Life Sciences, an India-based in silico technology company to launch Comprehensive Genomic Profiling (CGP), an approach to detect multiple actionable cancer biomarkers at once to optimize the treatment for better clinical outcomes. HCG has joined hands with Strand to develop StrandAdvantage500, a simple and comprehensive Next Generation Sequencing (NGS)-based assay that analyze cancer-relevant genetic alterations from DNA and RNA derived from a patient’s tumor in one integrated workflow.
- The major players operating in the global computational biology market include Accelrys, Certara, L.P., Chemical Computing Group Inc., Compugen, Ltd., Entelos, Inc. (Rosa & Co. LLC), Genedata AG, Insilico Biotechnology AG, Leadscope, Inc., Nimbus Discovery LLC, Rhenovia Pharma SAS, Schrodinger, and Simulation Plus, Inc.
