ALBANY,
New York, August 7, 2014 – In its latest market research report
published recently, Transparency Market Research, a U.S.-based market
intelligence firm states that the global computational biology market
is estimated to be worth US$2937.3 million by 2018. The report,
titled “Computational
Biology (Pharmacodynamics, Cellular Modeling, Computational Genomics,
Proteomics, Pharmacogenomics, Pharmacokinetics, Human Simulation
Software, Drug Discovery & Development) Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018,”
is available for sale on the company’s website.
Browse
the full Report at
The
report states that the global computational biology market that was
valued at $ 760.2 million in the year 2011 will show a compounded
annual growth rate (CAGR) of 21.3% to expand into a $2937.3 million
market by 2018.
According
to this report, the market for computational biology is driven by its
extensive use in biotechnology and Pharma companies to decrease the
frequency of the late stage drug failures in order to minimize the
expenditure incurred on R&D.
Computational
biology refers to using the combination of biology and computers for
drug breakthroughs and their subsequent development. This entails
creating simulation and modeling models for Pharmacodynamics and
pharmacokinetics. Earlier, many biotech pharmaceutical firms had
suffered immense financial losses owing to extreme drug failure and
lack of innovative drugs. This is what led to the adoption of
computational biology by many pharmaceutical companies over a period
of time.
This
report studies two aspects pertaining to the global computational
biology market, which are disease modeling and cellular modeling. And
by the use of simulation these two areas have been further examined
on the basis of drug discovery and development. This market has also
been categorized on the basis of parameters like software,
information technology infrastructure and databases.
The
report has also discussed the trends prevailing in contract and
in-house computational biology.
In
the market for computational biology, the largest market is the
market for drug discovery. The drug discovery market is very crucial
because the incorporation of computational biology at this stage
reduces the possibility of drug failure in the next stage which is
the development phase.
Even
though multinational Pharma companies are establishing their
respective centers for computational biology to rev up the processes
of drug discovery and development, there exists a huge market for
computational biology service providers working on contract basis.
The governments of many countries are investing in infrastructure
development and are also introducing many academic courses to enhance
the number of computational biologists in the market.
The
TMR report has segmented the computational biology market on the
basis of services, geography, end users and also the types.
Developing countries like China and India are experiencing rapid
growth in the computational biology market and will perhaps be the
dominant markets in the years to come. However, currently, the
largest market is North America. Prominent pharmaceutical companies
like Novartis, Sanofi, Roche and Pfizer are carrying out research
activities in the computational biology market, in order to generate
better results of clinical trials.
This
research report has given a detailed overview of the prominent
pharmaceutical companies that are making use of computational biology
which are Simulation Plus, Inc., Leadscope, Inc, Rhenovia Pharma SAS,
Accelrys, Chemical Computing Group Inc., Entelos, Insilico
Biotechnology AG, Nimbus Discovery LLC, Schrodinger, Certara,
Compugen, Ltd and Genedata AG.
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