According to the report published by Allied Market Research, the global computer-aided drug discovery market was estimated at $2.9 billion in 2021 and is expected to hit $7.5 billion by 2030, registering a CAGR of 11.48% from 2022 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Prime determinants of growth
Rise in cases of chronic and unknown diseases and rapid drug development drive the growth of the global computer-aided drug discovery market. On the other hand, shortage of skilled labor to operate computer-aided drug discovery solutions impedes the growth to some extent. However, several growth prospects in the developed and developing economies have been beneficial for the market growth.
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According to a new report published by Allied Market Research, titled, “Global Computer-aided Drug Discovery Market by Type, Therapeutic Area, End User, and Region: Global Opportunity Analysis and Industry Forecast, 2022-2030,” the global computer-aided drug discovery market size was valued at $2,940.9 million in 2021, and global computer-aided drug discovery market forecast is projected to reach $7,504.7 million by 2030, growing with an expected CAGR of 11.48% from 2022 to 2030.
Computer-Aided Drug Discovery Market Segmentation
The oncology segment to retain the lion’s share-
On the basis of therapeutic area, the oncology segment held the major share in 2021, garnering nearly one-fourth of the global computer-aided drug discovery market. The same segment is also projected to cite the fastest CAGR of 12.29% throughout the forecast period. Rise in R&D activities to discover novel drugs drives the growth of the segment.
The pharmaceutical companies segment to dominate by 2030-
By end-user, the pharmaceutical companies segment contributed to the lion’s share in 2021, holding more than two-fifths of the global computer-aided drug discovery market. The biotechnology companies’ segment, on the other hand, is expected to manifest the fastest CAGR of 11.97% from 2022 to 2030. Increase in R&D sending to develop biologics for treating several diseases propels the segment growth.
North America exhibited the fastest CAGR throughout the forecast period-
By region, the market across North America dominated in 2021, garnering more than one-third of the global computer-aided drug discovery market. The Asia-Pacific region, simultaneously, is anticipated to cite the fastest CAGR of 12.84% throughout the forecast period. Increasing number of biotechnology companies and R&D expenditure is the major factor are the major factors driving the market growth.
