The global market for computational biology is expected to reach USD 4.285 billion by 2020 growing at a compound annual growth rate (CAGR) of 21.1%, according to new market research. Steady surge in the usage and application of computational biology for bioinformatics R&D programs designed for sequencing genomes to better determine biologic 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, according to a recent market report published by Grand View Research, Inc. (San Francisco, CA,USA), a market research and consulting company.
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By BiotechDaily International staff writers
Computational genomics for cellular and biologic simulation applications lead the market in 2013, accounting for over 47% of global revenue. Major factors fueling 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 three-dimensional (3D) protein structure analysis.
Further key findings from the study suggest that North America was the largest regional market, accounting for 58.0% of the global revenue in 2013. Its large share is mostly credited to the growing research investments and initiatives for development of drug discovery, disease modeling technologies and advances in biologic computation technology. It is expected that Asia Pacific will see the most rapid growth in the market, at an estimated CAGR of 28.0% due to the increasing expenditure in clinical studies for pharmacokinetics and pharmacogenomics.
Another finding included that the application of computational biology in proteomics for cellular simulation is expected to grow at the fastest CAGR of over 22%, due to the swing in sequencing studies towards additional analysis of the nature of various biologic proteins as a part of development of personalized medicine.
Drug discovery and disease modelling applications were found to dominate 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 biologic and sequential data generated from genomic and proteomic studies. Consequentially, the software and services for the analysis of biologic data is expected to witness the fastest CAGR of over 21.0%. Major companies in this market include Schrodinger, Accelrys, Certara, Entelos, Simulation Plus, and others.
Grand View Research provides customized research reports and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and energy.
The global market for computational biology is expected to reach USD 4.285 billion by 2020 growing at a compound annual growth rate (CAGR) of 21.1%, according to new market research.
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