Computer-aided Drug Discovery Market
Dublin, Sept. 29, 2023 (GLOBE NEWSWIRE) -- The "Computer-aided Drug Discovery Market: Global Market Size, Forecast, Insights, and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
The global computer-aided drug discovery (CADD) market is expected to grow from $3.75 billion in 2023 to $7.81 billion by 2030, at a CAGR of 11.1% during the forecast period (2023-2030).
This report provides a holistic understanding of the CADD market, including market sizing, forecasts, drivers, challenges, and the competitive landscape.
Market Dynamics:
Drivers
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Growing Prevalence of Chronic Diseases: The increasing incidence of chronic diseases is boosting the demand for advanced drug discovery methods, driving the growth of the CADD market.
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Rising Adoption of Artificial Intelligence (AI) and Big Data: The adoption of AI and big data in drug discovery processes is streamlining research efforts and is expected to fuel market expansion.
Challenges
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Lack of Skilled Labor: The shortage of skilled professionals proficient in CADD tools could hinder market growth.
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Lower Product Penetration in Emerging Economies: Limited access to advanced technologies and economic constraints may slow down CADD adoption in emerging economies.
Market Segmentation:
By Type
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Drug Design: This segment includes ligand-based drug design and sequence-based approaches.
By Therapeutic Area
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Neurology, Oncology, Cardiovascular Disease, Respiratory Disease, Diabetes, Others: CADD techniques find applications across various therapeutic areas, with significant growth potential in neurology, oncology, and cardiovascular disease drug discovery.
By End User
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Biotechnology Companies, Pharmaceutical Companies, Research Laboratories: The CADD market serves biotechnology and pharmaceutical firms, as well as research laboratories engaged in drug discovery efforts.
By Region
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Europe, North America, Asia Pacific, Latin America, Middle East & Africa: The market spans major regions, with North America and Europe being key markets, and Asia Pacific expected to witness substantial growth in CADD adoption.
Historical & Forecast Period:
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Base Year: 2022
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Historical Period: 2018-2022
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Forecast Period: 2023-2030
Profiles of Key Companies:
The report offers detailed profiles of companies operating in the global computer-aided drug discovery market.
Companies Mentioned
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Albany Molecular Research Inc. (AMRI).
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Aragen Life Sciences Pvt. Ltd.
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Aris Pharmaceuticals Inc
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AstraZeneca
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Bayer AG
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Bioduro-Sundia
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BOCSCI Inc.
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Charles River Laboratories
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GVK Biosciences
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Schrodinger Inc.