Growing Dependence and Popularity of the Computational Biology Market

ALBANY, NY - Sep 14, 2015 - Computational biology refers to the development of techniques for the collection, manipulation, and use of biological data to make discoveries and predictions. The global computational biology market has witnessed significant growth in recent years due to its assistance in the field of biotechnology and medicine. Combing biology and computers, computational biology aids in drug breakthroughs and consequent development during the various stages of clinical trials. 

Extensive use of computational biology in biotechnology and pharmaceuticals driving the market 

Lack of innovative drugs and mounting drug failures in later stages of development had taken its toll on the pharmaceutical industry, amounting to massive financial losses. However, adopting computational biology over a period of time has led to not just minimized clinical stage expenditure but also decreased the frequency of drug failures. This has primarily driven the computational biology market. Moreover, enhanced government funding and industrial support, as well as improved computational tools has fueled the growth of the industry. The use of computational biology in modeling and simulation of pediatrics drug development is expected to open many doors for future expansion. 

However, factors such as absence of standardization, lack of skilled resources and personnel, shortage of data, and non-verified predictive models are expected to challenge the growth of the computational biology market.

Computational biology market division 

The overall market for computational biology is vastly diversified and can be segmented on the basis of four main parameters: applications, services, end users, and geography. Computational biology finds applications in drug development (preclinical), disease modeling and simulation (drug discovery), cellular and biological simulation (pharmacogenomics, transcriptomics, computational proteomics, computational genomics, and metabolomics), human body simulation software, and clinical trials (phase 1, phase 2, and phase 3). The key computational biology services are in-house services and contract services. The major end users are industry/commercial players and academics. The four main regions covered under the global computational biology market are North America, Europe, Asia-Pacific, and Rest of the World.

Computational biology - Global industry insights

According to a market intelligence company, the global computational biology market was worth US$760 million in 2012 and is expected to be worth US$2,937.3 million by 2018 at a compound annual growth rate of 21.3% from 2012 to 2018. Among the applications of computational biology, drug discovery is the fast-growing segment and is forecast to grow at a CAGR of over 25% between 2012 and 2018. This is mainly due to the fact that using computation biology in drug discovery not only reduces the chance of late-stage drug failure but also minimizes R&D expenditure. 

North America led the global computational biology market owing to increasing support from the FDA and intensive R&D activities in the field. However, emergence of small regional players, lower operating cost and rapid growth in the field of computational biology in developing countries such as China and India is expected to propel the Asian markets, making it the fastest growing regional sector.

Oligopolistic nature of the computational biology market

The global computational biology market is highly oligopolistic in nature and the top players enjoy nearly 80% of the total market share. Some of the small and leading companies operating in the industry include Insilico Biotechnology AG, Nimbus Discovery LLC, Accelrys, Schrodinger, Entelos, Leadscope, Inc., Certara, Compugen, Ltd, Genedata AG, Rhenovia Pharma SAS, Chemical Computing Group, Inc., and Simulation Plus, Inc.

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