Computational biology is a multifaceted field that combines the principles of applied mathematics, animation, computer science, anatomy, neuroscience, visualization, biophysics, biochemistry, ecology, and genetics for studying biological systems. Furthermore, computational biology reduces the number of humans candidates required to test drugs in the development stage and this is the fundamental advantage of computational biology. It is particularly useful in formulating drugs for the pediatric population and pregnant women.
The computational biology service providers will experience an upsurge in demand due to the current COVID-19 pandemic. The impact of the COVID 19 pandemic on the computational biology market is expected to be noteworthy as more countries resort to continuous research to control the spread of the disease. Currently, as the entire health care system is primarily focused on treating and developing vaccines for this virus, the major computational biology service providers across the globe will experience significant growth during the 2020 COVID-19 outbreak. The rising government funding in R&D to control and contain the virus is also anticipated to drive the adoption of computational biology in research facilities. Infinium Global Research’s recent report on the “Computational Biology Market (Applications - Human Body Simulation Software, Preclinical Drug Development, Cellular & Biological Simulation, Clinical Trials, Drug Discovery and Disease Modelling; Services - In-house and Contract; End User- Academics, Commercial and Industrial): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026” provides a comprehensive outline of the factors responsible for the growth of the market.
Some of the foremost factors pouring the growth of the computational biology market are the increasing number of clinical studies in pharmacokinetics and pharmacogenomics for drug discovery & development, an improvement in drug designing, personalized medicine, and disease modeling. Furthermore, the increasing demand for predictive models and cumulative funding from governments and private organizations for R&D in this field is also increasing the growth of the computational biology market. Additionally, advantages such as reducing risks involved in human clinical trials for testing drugs during their development phase, provided by computational biology to also augment growth in this market. Extensive usage of this technology in a large number of applications in academics, industrial and commercial sectors are further boosting the growth of this market. On the other hand, a dearth of properly trained professionals is hampering the growth of the computational biology market over the forecast period.
Among the geography, North America has emerged as the largest market for computational biology market followed by Europe and the Asia-Pacific. In the North America region, factors such as growing investments in the R&D of novel drugs and disease modeling and growing technological advancements in biological computations is driving the growth of this market. Factors heightening the growth of the computational biology market in the Asia Pacific region are augmented expenditure in research works in pharmacogenomics and pharmacokinetics in clinical studies for novel drugs.
The Computational Biology Market is anticipated to become highly competitive during the projection period, as it consists of numerous major players. With mounting technological progressions and product innovations, mid-size to smaller companies are increasing their market presence by introducing innovative products with fewer prices. Key players, such as Dassault Systemes, Genedata AG, Nimbus Discovery LLC, Chemical Computing Group Inc., Simulation Plus Inc, Compugen Ltd, Rosa & Co. LLC are projected to hold significant shares in the computational biology market. Infinium Global Research’s recent report on the global computational biology market is an encompassment of such recent developments in the global marketplace. The report delivers insights into the recent developments by leading players that have contributed to the growth of the computational biology market and also estimates the impact of recent developments on the global market.