Computational Biology Market To Reach $13.25 Billion By 2030

Computational Biology Market Growth & Trends

The global computational biology market size is expected to reach a value of USD 13.25 billion by 2030, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 13.17%. The growing investments in research & development within the fields of cancer research, increasing demand for personalized medicines, and rising drug discovery & development are anticipated to contribute to the growth of the market. Moreover, the increasing advancements in the biotechnology industry and the adoption of artificial intelligence technology will further drive the market growth over the forecast period.

The growing adoption of advanced technology in gene analysis is propelling the growth of the market for computational biology. For instance, in January 2023, Qiagen Digital Insights (QDI) introduced an enhanced product designed for ultra-rapid next-generation sequencing (NGS) analysis. This innovative solution enables the processing of the entire genome within just 25 minutes, for USD 1 in cloud computing expenses. This is anticipated to empower researchers to efficiently analyze and interpret data from various sequencing approaches, including whole genome sequencing (WGS), whole exome sequencing (WES), and large panel sequencing. Hence, it is anticipated to impel market growth over the forecast period.

Furthermore, according to the article published by Cryptopolitan in September 2023, in a major advance development, scientists at Pohang University of Science and Technology (POSTECH) have shared their discoveries in the EBioMedicine journal, that they have used machine learning to estimate the chances of a new drug getting approved even before the clinical trials. This is expected to help in understanding the rate of drug failure at the time of clinical trials. Thus, the rising advancements in technology are anticipated to fuel the growth of the market over the forecast period.

However, the complexity of the biological systems and the lack of skilled professionals in the field are anticipated to hinder the growth of the market. Biological systems are incredibly complex, and accurately modeling their behavior can be challenging and requires the presence of skilled and trained professionals. Many biological processes involve complicated networks and interactions, which further add to the complexity of analysis and make computational predictions less reliable in some cases.

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Computational Biology Market Report Highlights

• Based on service, the software & platform segment dominated the market with a share of 39.06% in 2022, and the same is anticipated to grow at the fastest CAGR over the forecast period. This can be attributed to the rising drug discovery & development and growing demand for personalized medicines

• Based on application, the clinical trials segment dominated the market with a share of 26.84% in 2022. This was primarily due to an increase in the number of R&D initiatives in this field.

• Based on end-use, the industrial segment held the largest market share of 62.10% in 2022. This can be attributed to the increasing research activities for drug discovery, target identification, virtual screening, and pharmacokinetic modeling, among other applications

• In 2022, North America dominated the market with a share of 48.93%, owing to the presence of major market players, and robust healthcare infrastructure. These are anticipated to boost the market for computational biology in the region over the forecast period

Computational Biology Market Segmentation

Grand View Research has segmented the global computational biology market based on service, application, end-use, and region:

Computational Biology Service Outlook (Revenue, USD Million; 2018 - 2030)

• Databases

• Infrastructure & Hardware

• Software Platform

Computational Biology Application Outlook (Revenue, USD Million; 2018 - 2030)

• Drug Discovery & Disease Modelling

  • Target Identification

  • Target Validation

  • Lead Discovery

  • Lead Optimization

• Preclinical Drug Development

  • Pharmacokinetics

  • Pharmacodynamics

• Clinical Trial

  • Phase I

  • Phase II

  • Phase III

  • Phase IV

• Computational Genomics

• Computational Proteomics

• Others

Computational Biology End-use Outlook (Revenue, USD Million; 2018 - 2030)

• Academics & Research

• Industrial

Computational Biology Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Computational Biology Market

• DNAnexus, Inc.

• Illumina, Inc.

• Thermo Fisher Scientific, Inc.

• Schrodinger, Inc.

• Compugen

• Aganitha AI Inc.

• Genedata AG

• QIAGEN

• Simulations Plus, Inc.

• Fios Genomics