Report : South and Central America Drug Modelling Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product Type (Database, Software, and Others); and Application (Drug Discovery and Development, Computational Physiological Medicine, Disease Modelling, Medical Imaging, Predictive Analysis of Drug Targets, Simulation Software, Cellular Simulation, and Others)and Country
SoftwareSegment Held Largest Share of Drug Modelling Software Market in 2019
According to our new market research study on “South & Central AmericaDrug Modelling Software Marketto 2027 – Regional Analysis and Forecast – by Product Type,and Application”the market is expected to reach US$ 606.80 millionby 2027 from US$ 359.46 million in 2019; it is estimated to grow at a CAGR of 7.1% from 2020 to 2027. The report provides trends prevailing in the South & Central Americadrug modelling softwaremarket and the factors driving the market growth along with those hindering it.
In 2019, the software segment accounted for the highest share of the market. Also, the same segment is estimated to grow at the highest CAGR in the forecast period. Growth of this segment is attributed to the growing demand for effective therapeutics and increase in drug discovery efforts of various biologics across a wide range of therapeutics. In addition, strategic activities by service providers such as collaborations, product advancement, and product launch in order to expediate drug discovery timeline are further accelerating the growth of the market.
The growth of the South & Central Americadrug modelling softwaremarketis mainly attributed totherapid integration of AI for the drug discovery, increasing preference for personalized medicine, high R&D spending for novel therapeutic applications and presence of major market players.However,the less adoption in emerging countriesis the major factor hindering the market growth in South & Central America.
The Report Segments South & Central AmericaDrug Modelling SoftwareMarketas Follows:
South & Central AmericaDrug Modelling SoftwareMarket– By ProductType
South & Central AmericaDrug Modelling SoftwareMarket – By Application
South & Central AmericaDrug Modelling SoftwareMarket– By Country