PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1575027
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1575027
In-Silico Drug Discovery Market size was valued at USD 2,980.32 Million in 2023, expanding at a CAGR of 10.30% from 2024 to 2032.
In-silico drug discovery utilizes computational methods and simulations to identify, design, and optimize potential drug candidates. This approach leverages computer-based tools to model biological systems, predict drug interactions, and explore chemical space, which significantly speeds up the drug discovery process and reduces costs compared to traditional experimental methods.
In-Silico Drug Discovery Market- Market Dynamics
Advancement in computational power & AI and emergence of structural biology, technologies is expected to propel market demand
The increased availability of high-performance computing (HPC) and cloud-based platforms has enabled more complex simulations and large-scale data processing. The integration of artificial intelligence (AI) and machine learning (ML) further enhances predictive accuracy and efficiency in drug discovery, thereby boosting the in-silico drug discovery market growth. AI and big data analytics are being used to analyze large biological datasets, identify new drug targets, and predict drug interactions and toxicity profiles, enabling more precise and personalized drug development.
Advances in structural biology, genomics, proteomics, and metabolomics have generated vast amounts of data on biological systems. In-silico drug discovery tools utilize this data to identify novel drug targets and understand disease mechanisms. In addition, increased R&D spending by pharmaceutical companies and academic institutions, especially in computational biology and bioinformatics, has led to greater adoption of in-silico tools for drug discovery and development. Many pharmaceutical companies are outsourcing in-silico drug discovery processes to specialized firms, leading to market growth. Collaborations between pharma companies, academic institutions, and tech firms are also accelerating innovation and market expansion.
In-Silico Drug Discovery 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 10.30% over the forecast period (2024-2032)
Based on Product segmentation, the software-as-a-service segment was predicted to show maximum market share in the year 2023, owing to rising internet penetration & adoption of IoT solution.
Based on Disease Type segmentation, oncology segment was the leading Disease Type segment in 2023, due to the growing prevalence of oncological disorders.
Based on End User segmentation, biopharmaceutical companies' segment was the leading End User segment in 2023, due to the rising number investment by biopharma companies in drug discoveries.
On the basis of region, North America was the leading revenue generator in 2023, due to the presence of top pharma companies & favorable government policies.
Global In-Silico Drug Discovery Market is segmented on the basis of Product, Disease Type, End User, and Region.
The market is divided into two categories based on Product: software-as-a-service and consultancy-as-a-service. The software-as-a-service segment dominates the market. The increasing adoption of big data and AI in medical tools is contributing to segment growth.
The market is divided into six categories based on Disease Type: oncology, neurological disorders, infectious disorders, metabolic disorders, cardiovascular diseases, and others. The oncology segment dominates the market. The increasing number of cancer cases, according to NIH, India, cancer cases are expected to rise by 12.5% by 2025.
The market is divided into four categories based on End User: biopharmaceutical companies, CROs, academic research, and others. The biopharmaceutical companies segment dominates the market and is expected to maintain its high dominance during the forecast period. Biopharmaceutical companies streamline their drug development & investing in research supporting market growth.
In-Silico Drug Discovery Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America, especially the United States, holds the largest share in the in-silico drug discovery market. Adoption of advanced technologies like AI, machine learning, and high-performance computing (HPC) in drug discovery. Europe is the second-largest market, with countries like Germany, the UK, and France with companies like GSK, AstraZeneca, etc. These companies are emphasizing on high investment in research and development (R&D).
The In-Silico Drug Discovery market is highly competitive, Companies are increasingly incorporating AI and machine learning to enhance prediction accuracy, reduce costs, and speed up the drug development process. Companies such as Insilico Medicine and Atomwise are continually enhancing their AI platforms to improve drug target identification, compound optimization, and prediction of ADMET (absorption, distribution, metabolism, excretion, and toxicity) properties. Also, market players are expanding into emerging markets like Asia-Pacific, where investments in drug discovery and bioinformatics are increasing.
In 2023, BenevolentAI entered a strategic collaboration with AstraZeneca to discover and validate novel targets across various therapeutic areas, including chronic kidney disease and idiopathic pulmonary fibrosis.
In September 2023, Related Sciences, a data science-driven drug discovery company collaborated with Charles River Laboratories International, Inc. to deploy LogicaTM for numerously undrugged targets.