The growing market of computational biology market is results of increasing usage of various modules increases use of computational tools in epi-genomics, genomics, proteomics, and meta-genomics to understand protein-protein interactions, 3D protein structural analysis, and gene sequencing and expression studies coupled with rising trend of research activities in drug designing and disease modelling. It’s a disciplinary of a branch of biology involving the application of computer science &computers.
Computational biology is a process of understanding biological system and relationship by computing some biological data based on model algorithm.
Through this medical science which have significance data of models and algorithms, one can analyse various biological systems and medical drugs.
However, some factors such as lack of skilled resources to operate computational tools is expected to restrain the growth of the computational biology market during the forecast period 2018-2026.
The key reason for growth of this market is the investment in clinical studies for pharmaceutics and pharmacogenomics which means how human body interacts with drugs after consumption include metabolism, excretion etc.
Based on service type, the computational biological market is segmented into in-house and contract services. This computational biology has required high and sophisticated computing technology.
Computational biology market can be segmented on the basis of application, service type and end use.
On the basis of application the market can be divided into Cellular & Biological Simulation, drug discovery & disease modelling, preclinical drug development and clinical trials.
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Cellular and biological simulation among all the application base segments is expected to expand at the fastest CAGR during the forecast period. As there is a shift in sequencing studies towards further analysis of the nature of various biological proteins as a part of the development of personalized medicine, it has work as a key driving force for this segment.
The pharmaceuticals and life science companies are keep on trying in the field of updating the technology so that they can sustain in the market which makes demand for the computational biology.
On the basis of service type the market can be segmented into two types that are in-house and contract.
On the basis of end use, the market is categorized into academics, industry and commercial.
North America is has the largest market for computational biology market.
The key drivers contributing in the growth of computational biology market in North America are the growing initiatives and investments for research and development of drug discovery, modernization in the existing biological computation methods and technologies of disease modelling.
Asia pacific is anticipated as the fastest growing market with CAGR of 29% over the forecast period 2018-2026.
The key reason behind the growth of this region is the investment in life science research and technological advancements in biotechnology.
In European market, increases in the rapid adoption of biotechnologies and affordability in terms of required skills make the market more demand.
Some of the prominent players operating in the global computational biology market are Chemical Computing Group In.; Simulation Plus Inc.; Genedata AG; Compugen Ltd.; Certara; Accelrys; Rhenovia Pharma SAS; Entelos; Nimbus Discovery LLC; Certara; Insilico Biotechnology AG; and Rhenovia Pharma SAS.