Global Computational Biology Market Highlights over 2022 – 2031
The global computational biology market is estimated to grow at a CAGR of ~20% over the forecast period, i.e., 2022 – 2031. Computational biology is the science of using data-analytical and theoretical methods, mathematical modelling and computational simulation techniques, to study biological processes and systems. Computational biology is required for research activities, biotech and genomics, pharmaceutical R&D, and scientific software development. The growth of the market can be attributed to the growing investment in research and development activities. According to the data by the World Bank, 2.203% of the global gross domestic product (GDP) was spent for research and development activities in the year 2018. Moreover, increasing adoption of new technologies in the healthcare sector, with the introduction of machine learning and intelligent medical equipment, are anticipated to boost the market growth.
The market is segmented by application into cellular and biological simulation, drug discovery, disease modelling, preclinical drug development, clinical trials, human body simulation, and others, out of which, the drug discovery segment is anticipated to hold the notable share in the global computational biology market over the forecast period on account of growing demand for new drugs to treat various diseases. Moreover, rising prevalence of chronic diseases, and growing health awareness is foreseen to surge the demand for medications, which is expected to boost the market growth. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Computational Biology Market Regional Synopsis
On the basis of geographical analysis, the global computational biology market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Europe region is estimated to witness noteworthy growth over the forecast period on the back of developing genomics industry in the region, backed with the increasing number of researchers in the region.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the growing R&D activities, coupled with the high investment in research activities. According to the data by the World Bank, 2.732% of the GDP of North America was spent on R&D activities in 2018.
The global computational biology market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global computational biology market includes the following segments:
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
Increasing investment in research and development activities is estimated to majorly boost the market growth.
The market is anticipated to attain a CAGR of ~20% over the forecast period, i.e., 2022 – 2031.
The major players in the market are Certara Inc., Instem Group, Compugen, Chemical Computing Group ULC, Rhenovia Pharma SAS, Nimbus Discovery LLC, Rhenovia Pharma SAS, Insilico Biotechnology AG, Genedata AG, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by application, component, end-user, and by region.
The academics segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
Lack of enough number of researchers and trained professionals is estimated to hamper the market growth.
The North America region is anticipated to provide more business opportunities over the forecast period owing to the increasing scope for learning and practicing computational biology.
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