Global Computer-Aided Drug Discovery market size in 2021 was USD 2.845 billion, market value to grow to USD 7.232 billion by 2030 at 11.3% CAGR as per Acumen Research and Consulting
Computer-aided drug discovery (CADD) refers to the use of computational techniques and algorithms in drug discovery and design. It is a rapidly growing market, with significant potential to accelerate drug development and reduce costs. CADD techniques allow for the efficient screening of large databases of chemical compounds to identify potential drug candidates. The global CADD market has witnessed substantial growth in recent years, and is expected to continue to grow in the coming years.
Market Segmentation:
The CADD market is segmented based on software, service, end-user, and region. Based on software, the market is segmented into molecular modeling, docking, and others. Molecular modeling software is the most widely used software, owing to its ability to generate 3D structures of drug molecules. Based on service, the market is segmented into in-house and outsourced. Outsourced services are the most widely used service, as they allow for access to specialized expertise and resources. Based on end-user, the market is segmented into pharmaceutical companies, biotechnology companies, and others.
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Market Dynamics:
Increasing Demand for Cost-Efficient and Time-Saving Drug Discovery: The growing demand for cost-efficient and time-saving drug discovery is a significant driver for the CADD market. CADD techniques allow for the efficient screening of large databases of chemical compounds, reducing the time and costs associated with traditional drug discovery methods.
Technological Advancements in CADD Software: The development of advanced CADD software and algorithms has enabled more accurate and efficient drug screening and design. This has led to an increase in the adoption of CADD techniques in the drug discovery process.
Rising Prevalence of Chronic Diseases: The increasing prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases has led to an increased demand for drug discovery and development. CADD techniques offer a promising approach to accelerate drug development and improve the success rate of clinical trials.
Market Challenges:
Limited Availability of Skilled Professionals: The limited availability of skilled professionals in the field of CADD is a major challenge for the market. The development and use of CADD software and algorithms require specialized expertise, which can be a barrier to entry for some organizations.
High Cost of CADD Software: The high cost of CADD software is a significant challenge for the market. The cost of CADD software and hardware can be a barrier to entry for some organizations, particularly smaller companies and academic institutions.
Ethics and Legal Issues: The use of CADD techniques in drug discovery raises ethical and legal issues, particularly with respect to intellectual property and patent rights. These issues can create barriers to the adoption of CADD techniques in drug discovery.
Market Regional Overview:
The global CADD market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is the largest market for CADD, owing to the presence of a large number of pharmaceutical and biotechnology companies in the region. Europe is also a significant market, owing to the growing adoption of CADD techniques in drug discovery. The Asia Pacific region is expected to witness significant growth in the coming years, owing to the increasing investment in healthcare and drug development in the region.
List of Market Players:
- Schrödinger, Inc.
- Accelrys, Inc.
- Certara, L.P.
- BIOVIA
- OpenEye, Cadence Molecular Sciences
- Chemical Computing Group, Inc.
- Optibrium, Ltd.
- Dassault Systèmes
- Simulations Plus, Inc.
- Genedata AG
- Collaborative Drug Discovery - CDD VAULT
- Cloud Pharmaceuticals, Inc.
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Increasing incidences of sports injuries, rising incidence of osteosarcoma, and expanding geriatric population base are key factors driving the market.Rising geriatric population across the globe has become a major factor driving demand for prosthetics and orthotics.
For instance, as per the United Nations, the number of people aged 60 years or over globally is expected to more than double by 2050, increasing from 962 million in 2017 to 2.1 billion in 2050.
The elderly are more susceptible to conditions such as osteoporosis and osteopenia, making them common users of various orthopedic solutions.To Request A Sample Copy Of This Report @: https://www.radiantinsights.com/research/prosthetics-and-orthotics-market/request-sampleIncreasing incidence of osteosarcoma in young adults and children is also driving the market to a great extent.
Around 800 to 900 new cases of osteosarcoma are reported in the U.S. each year as of 2018.Further key findings from the report suggest:In terms of revenue, the orthotics segment is projected to expand at a CAGR of 4.0% over the forecast period.
Increasing cases of diabetes-related amputations across the globe are acting as the driving factor for this segmentBy revenue, Asia Pacific is expected to exhibit the highest growth rate over the forecast period.
Conventional drug discovery is a very time-consuming and costly process with a low turnover rate of druggable new chemical entities.
It requires a collective effort of multiple disciplines to discover novel and effective drugs.
In this direction, computer aided drug designing (CADD), involving various computational approaches assist in rationalizing the drug discovery and development process.
It uses state-of-art technologies to improve the drug discovery workflow in a cost and time-effective manner.
