Computational Biology Market Is Projected To Witness Growth Based On Enhanced Application Scope In Cellular & Biological Simulation, Pharmacogenomics, Drug Discovery Till 2020:Grand View Research,inc.
The Global computational
biology market is expected to reach USD 4,285.1 million by 2020
growing at a CAGR of 21.1%, according to a new study by Grand View Research,
Inc. Steady increase in the usage & application of computational
biology for bioinformatics R&D programs designed for sequencing genomes to
better understand biological systems and increasing number of clinical studies
in pharmacogenomics and pharmacokinetics for novel drug discovery studies are
expected to drive computational biology demand over the next six years.
Computational genomics for
cellular and biological simulation applications dominated the market in 2013,
accounting for over 47% of global revenue. Key factors driving demand for these
applications include the growth of drug designing, disease modeling and
personalized medicine applications and the growing usage of computational
biology for functional and structural genomics, epigenomics and metagenomics
for the analysis of protein transcription, protein-protein interactions, gene
sequencing and expression and 3-dimensional protein structure analysis.
Browse full research report on Computational
Biology Market
Further key findings from the report suggest:
- North America
was the largest regional market, accounting for 58.0% of the global
revenue in 2013. Its large share is majorly attributed to the growing
research investments and initiatives for development of drug discovery,
disease modeling technologies and innovations in biological computation
methods. It is expected that Asia Pacific will witness the fastest growth
in the market, at an estimated CAGR of 28.0% owing to the increasing
expenditure in clinical studies for pharmacokinetics and pharmacogenomics.
- The
application of computational biology in proteomics for cellular simulation
is expected to grow at the fastest CAGR of over 22% owing to the shift in
sequencing studies towards further analysis of the nature of various
biological proteins as a part of development of personalized medicine.
- Drug
discovery and disease modelling applications dominated the market,
accounting for 58.0% of global revenue in 2013. This large share is
attributed by the extensive drug development pipelines present for a
number of global branded and generic drug manufacturing firms such as
Sanofi, Novo Nordisk and Eli Lilly.
- Computational
Biology databases dominated the tools segment and accounted for 44.5% of
the market revenue in 2013, owing to extensive genomic database usage for
warehousing and data mining of biological and sequential data generated
from genomic and proteomic studies. Consequentially, the software and
services for the analysis of biological data is expected to witness the
fastest CAGR of over 21.0%.
- Key players
of this market include Schrodinger, Accelrys, Certara, Entelos, Simulation
Plus and others.
For more information:
http://www.grandviewresearch.com
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