In-Silico Technique Transforming the Complex Biological Data into Useful Knowledge for the Drug Discovery Process
In-silico drug discovery methods are such that can help in identifying targets for which drugs are to be discovered with the help of bioinformatics tools. The increasing use of in-silico methods refers to the use of computer-aided drug designing (CADD) to reduce the overall usage of animals for lab testing of drugs. The in-silico method of drug discovery also enables medicinal chemists in designing, discovering, development, and optimization of drugs. This method also aids in designing safer drugs for the patients.
The use of computational methods for designing and discovery drugs based on certain targets facilitates the access of massive amount of data generated. It further helps in transforming the extensive complex biological data into useful knowledge for the drug discovery process. These computational tools offer the benefit of delivering new drug aspirants more quickly and at a lower cost.
Based on the market intelligence published by BIS Research titled “Global In-Silico Drug Discovery Market — Analysis and Forecast, 2018–2029,” the in-silico drug discovery market generated a revenue of $2,094.5 million in 2018 and is projected to reach $7,920.0 million by 2029. The market is expected to grow at a CAGR of 12.92% in the forecast period of 2019–2029.
The growth of the market is driven by technological advancements in the field of computational biology, growth in the biomarker identification market, and advancements in in-silico drug discovery techniques, and the increasing emphasis on reduction in medical errors, and re-admission rates. Each of the market drivers are expected to have a high impact in the coming five to ten years. However, the emphasis on reduction of medical errors along with technological advancements are likely to have medium to high impact in the first two years.
However, there are certain factors that are restraining the growth of the market, including lack of high complexity testing centers, expensive procedures and their applications in medical treatments, and high capital requirements that are hampering the expansion of global reach. The impact of market challenges for the lack of complexity and requirement of high capital are expected to be low to medium in the next five to ten years.
Some of the major companies for which the financials, SWOT analysis, along with their contribution to the product portfolio available in the market include Albany Molecular Research Inc., Certara USA, Inc., Charles River, Chemical Computing Group ULC, Collaborative Drug Discovery Inc., Dassault System (Biovia), Evotec A.G., GVK Biosciences Private Limited, Novo Informatics Pvt. Ltd, and PerkinElmer, Inc..
