Table of Contents
The computational medicine and drug discovery software market encompasses the use of pharmacy, chemistry, biotechnology and software knowledge for drug discovery and development. This is accompanied by development of algorithms and simulation of various models to study the pharmacokinetics and pharmacodynamics of a particular drug.
The global market for computational medicine and drug discovery software is valued at $X billion in 2014 and is projected to grow with a healthy double digit CAGR of XX% through 2020. Recent growth in disease modeling, drug designing and development by leveraging various bioinformatics tools will lead to the market growth during the period under study (2014-2020).
As of 2014, the application of computational medicine in simulation of cells is estimated to grow at the fastest pace, due to the increasing research activities on sequencing of proteins to design and develop customized medicines suited to an individual’s needs. Drug discovery, development and disease modeling applications occupy the highest market share owing to the widespread drug development approaches adopted by several major pharmaceutical companies.
The North America, led by the U.S. accounted for the largest market share in the global market for computational medicine and drug discovery software, occupying over 55% of the revenue in 2014. The huge market size can be credited to the increasing investments in R&D activities pertaining to drug discovery and development and disease modelling.
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