PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555532
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555532
Computational Biology Market size was valued at USD 5,608.74 million in 2023, expanding at a CAGR of 14.22% from 2024 to 2032.
Computational Biology is a rapidly evolving field that integrates biological data with computational techniques to advance our understanding of complex biological systems. This market encompasses a range of applications including genomics, proteomics, drug discovery, and personalized medicine. The growth is driven by advancements in high-throughput sequencing technologies, big data analytics, and artificial intelligence, which enable more precise and efficient analysis of biological data.
Key players in the market include software developers, biotechnology firms, and research institutions. The market is expected to expand significantly as the demand for data-driven insights in life sciences increases, leading to improved diagnostics, targeted therapies, and overall healthcare outcomes.
Computational Biology Market- Market Dynamics
The growing prevalence of chronic diseases driving the need for a computational biology market
The growing prevalence of chronic diseases is significantly driving the expansion of the computational biology market. Chronic conditions such as diabetes, cardiovascular diseases, and cancer require complex, long-term management strategies and personalized treatment approaches. According to the World Health Organization, Noncommunicable diseases (NCDs) kill 41 million people each year, equivalent to 74% of all deaths globally. Each year, 17 million people die from a NCD before age 70; 86% of these premature deaths occur in low- and middle-income countries. Computational biology provides the tools necessary to analyze vast amounts of biological data, model disease processes, and predict patient responses to various treatments.
By integrating data from genomics, proteomics, and other omics fields, computational biology enables researchers and clinicians to uncover new biomarkers, understand disease mechanisms, and develop targeted therapies. This data-driven approach not only enhances our understanding of chronic diseases but also supports the development of precision medicine, ultimately improving patient outcomes and fueling the growth of the computational biology market.
Computational Biology Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 14.22% over the forecast period (2024-2032)
Based on service segmentation, In House was predicted to show maximum market share in the year 2023
Based on application segmentation, Drug discovery & Disease Modelling was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Computational Biology Market is segmented on the basis of Service, Application, Distribution, and Region.
The market is divided into three categories based on end-user: Industry, Academics, and Commercial. The largest and fastest-growing segments are industrial and commercial. Databases and solutions for computational biology are being used by businesses more and more to analyze diverse data sets and generate a range of biological products. These systems are used by pharmaceutical and biopharmaceutical businesses for drug research and discovery, utilizing numerous databases for proteins and amino acids, as well as nucleic acids.
The market is divided into five categories based on application: Drug Discovery & Disease Modelling, Cellular & Biological Simulation, Clinical Trials, Preclinical Drug Development, and Human Body Simulation Software. Target identification dominated the market within Drug Discovery and Disease Modelling, which has the largest shareholder. Computational biology has the potential to change the way medications are designed, speed up the drug discovery process, and cut costs. In the near future, the segment is expected to grow more due to the rise in computational methods for the target identification stage of the search process.
Computational Biology Market- Geographical Insights
In North America, the computational biology market is experiencing robust growth, driven by the region's advanced research infrastructure and increasing investment in healthcare innovation. The United States dominates the market, contributing a significant share due to its strong presence of biotechnology firms, pharmaceutical companies, and research institutions. The U.S. is home to many leading computational biology companies and universities, fostering a collaborative environment that accelerates the development of new technologies and solutions. According to the National Health Council, Generally incurable and ongoing, chronic diseases affect approximately 133 million Americans, representing more than 40% of the total population of this country.2 By 2020, that number is projected to grow to an estimated 157 million, with 81 million having multiple conditions.
Canada also plays a notable role in the market, with its growing emphasis on personalized medicine and genomics. The Canadian government's supportive policies and funding initiatives further bolster the sector's expansion. This growth is fueled by the increasing demand for advanced data analysis tools, rising investment in genomic research, and the expanding use of computational biology in drug discovery and development.
The computational biology market is marked by a dynamic and diverse array of players spanning across technology companies, biotech firms, and research institutions. Leading companies like IBM, with its advanced AI-driven analytics, and Illumina, known for its genomic sequencing technologies, hold significant market positions due to their cutting-edge solutions and extensive research capabilities. Other notable players include Thermo Fisher Scientific, which offers a range of bioinformatics tools and software, and 10x Genomics, known for its innovations in single-cell genomics and spatial biology. Additionally, numerous startups and mid-sized companies are making strides with specialized applications in drug discovery, personalized medicine, and systems biology. These companies often differentiate themselves through niche expertise, unique algorithms, or integration of machine learning and artificial intelligence to enhance predictive accuracy and accelerate research processes.
Collaborations and partnerships among these players, alongside advancements in cloud computing and data integration technologies, are shaping a competitive and rapidly evolving market landscape.
In October 2020, Summit Biolabs, a U.S.-based medical laboratory announced a broad strategic collaboration involving the research, development, and commercialization of saliva liquid-biopsy tests for early cancer detection and diagnosis of COVID-19 and other viral contagions with the Colorado Center for Personalized Medicine. This collaboration strengthened Summit Biolabs' ability to bring saliva-liquid biopsy tests to enable better treatment and improved outcomes for patients.
In January 2022, Researchers from the University of Illinois at Urbana-Champaign, a research university located in the United States, created software that uses a graphics processing unit (GPU) to mimic the growth and metabolism of a two billion atom cell that is equivalent to a living cell in the body. During a 20-minute cell cycle, the model simulates 7,000 genetic information operations using GPUs from the U.S.-based technology company NVIDIA.