Report : Drug Modeling Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product type ( Database, Software, Others ); Application ( Drug Discovery and Development, Computational Physiological Medicine, Disease Modeling, Medical Imaging, Predictive Analysis of Drug Targets, Simulation Software, Cellular Simulation ), and Geography
Software Segment to Drive Growth of Drug Modeling Software Market during 2020–2027
According to our new market research study titled "Drug Modeling Software Market – Global Analysis and Forecast – by Product Type, and Application" the global drug modeling software biopharmaceutical market is expected to reach US$ 11,299.85 million by 2027 from US$ 6,205.22 million in 2019; it is estimated to grow at a CAGR of 8.1% from 2020 to 2027. The report highlights the trends prevalent in the global drug modeling software market, and the drivers and deterrents pertaining to its growth.
Based on product type, the drug modeling software market is segmented into database, software, and others. In terms of product type, the software segment held the highest share of the drug modeling software market in 2019 and is estimated to register the highest CAGR of 8.4% in the market during the forecast period. The growth of the market is attributed to the growing demand for effective therapeutics and increasing number of drug discovery efforts of various biologics across a wide range of therapeutics. Additionally, strategic activities by service providers such as collaborations, product advancement, and product launch in order to expedite drug discovery timeline are further accelerating the growth of the market.
The market growth is also attributed to a few key factors such as increasing adoption of in-silico modeling tools in drug discovery, and rising economic burden of drug discovery. However, less adoption in emerging countries is expected to hamper the growth of the market up to certain extent during the forecast period.
Crown Bioscience Inc.; Chemical Computing Group Ulc; Nimbus Therapeutics; Schrödinger, Inc.; Dassault Systèmes; Genedata Ag; Biognos Ab; Compugen Ltd; Acellera ltd.; and Leadscope, Inc plc are among the prominent players operating in the drug modeling software market. The market players are focused on organic strategies to sustain their position in the market. For instance, in March 2020, Crown Bioscience has launched two new liver fibrosis rodent models, which allows rapid and cost-effective evaluation of the preclinical effects of NASH and anti-fibrotic treatments on acute liver injury, advanced fibrosis, and/or fibrosis reversal.
The Report Segments the Global Drug Modeling Software Market as Follows:
By Product Type