Market Outlook:
According to a new report by Expert Market Research titled “Global Computational Biology Market Size, Share, Growth, Analysis, Report, Demand, Forecast 2023-2028″, the global computational biology market was valued at over USD 3.6 billion in 2021. It is projected to expand at a CAGR of 22.7% during the forecast period of 2023-2028 and surpass a valuation of USD 12.1 billion by 2028.
Computational Biology is the use of mathematical, statistical, and computational methods to understand biological systems. The market is expected to be driven by the increasing demand for computational biology in drug discovery, personalized medicine, and other fields. The market is also expected to be driven by the development of advanced technologies and the growing adoption of artificial intelligence and machine learning.
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Market Drivers:
- Increasing demand for computational biology in drug discovery and personalized medicine
- Growing adoption of artificial intelligence and machine learning in computational biology
- Advancements in technology
Market Restraints:
- High cost of software and hardware
- Lack of skilled professionals
- Data privacy and security concerns
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Market Segmentation:
The global Computational Biology Market is segmented on the basis of tools, applications, and regions.
By Tools:
- Analysis Software and Services
- Databases
- IT Infrastructure
By Applications:
- Drug Discovery and Development
- Disease Modeling and Simulation
- Cellular and Biological Simulation
- Preclinical Drug Development
By Regions:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Key Players:
- Accelrys Inc.
- Certara
- Chemical Computing Group Inc.
- Compugen Ltd.
- Genedata AG
- Insilico Biotechnology AG
- International Business Machines Corporation (IBM)
- Schrödinger, Inc.
- Simulation Plus Inc.
- Rhenovia Pharma Ltd.
FAQs:
Q: What is computational biology?
A: Computational Biology is the use of mathematical, statistical, and computational methods to understand biological systems.
Q: What are the market drivers for the Computational Biology Market?
A: The increasing demand for computational biology in drug discovery and personalized medicine, growing adoption of artificial intelligence and machine learning in computational biology, and advancements in technology are the major market drivers.
Q: What are the market restraints for the Computational Biology Market?
A: High cost of software and hardware, lack of skilled professionals, and data privacy and security concerns are the major market restraints.
Q: How is the Computational Biology Market segmented?
A: The global Computational Biology Market is segmented on the basis of tools, applications, and regions.
Q: What are the key applications of Computational Biology?
A: The key applications of Computational Biology are drug discovery and development, disease modeling and simulation, cellular and biological simulation, and preclinical drug development.
Q: Which region is expected to dominate the Computational Biology Market?
A: North America is expected to dominate the Computational Biology Market due to the presence of major market players and increasing investments in research and development.
Q: Who are the key players in the Computational Biology Market?
A: The key players in the Computational Biology Market include Accelrys Inc., Certara, Chemical Computing Group Inc., Compugen Ltd., Genedata AG, Insilico Biotechnology AG, International Business Machines Corporation (IBM), Schrödinger, Inc., Simulation Plus Inc., and Rhenovia Pharma Ltd.
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