Computational Medicine and Drug Discovery Software Market Expects Ebola Outbreak in Africa to Spur Future Drug Development Efforts
Computational medicine and drug discovery software involves the utilization of knowledge from multiple fields in order to come up with unique solutions pertaining to drug development in a clinical setting. Computational medicine is one aspect which aims to improve the decision making process in clinical trials by utilizing data analysis tools and models. The Computational Medicine and Drug Discovery Software Market revenue was reported to be $5.2 billion 2015. As the integration of drug development and bioinformatics will keep progressing, the market revenue is predicted to exceed $7.1 billion in 2021. Thus, the market for computational medicine and drug discovery software is well-positioned to rise significantly during the forecast period of 2016-2021.
Scope & Regional Forecast of the Computational Medicine and Drug Discovery Software Market
The Computational Medicine and Drug Discovery Software Market considers the prime growth drivers to be a few factors like: steady rise in usage of chemistry software by pharmaceutical companies; sharp increase in the number of clinical trials pursuing effective drug discovery; growing popularity of personalized medication; utilization of the services provided by biotech companies for studying genomics; and growing instances of chronic diseases being reported across the globe.
The Computational Medicine and Drug Discovery Software Market is currently dominated by demand originating from North America owing to the fact that a majority of cutting-edge drug development takes places in the region. Europe, and Germany in particular, follow it closely behind along with Asia-Pacific. On the other hand, medical imaging currently holds nearly half of the market share in terms of application and is expected to register a CAGR of 4.2% till 2021.
Segmentations & Key Players Involved in the Computational Medicine and Drug Discovery Software Market
The Computational Medicine and Drug Discovery Software Market can be broken down into various segmentations on the basis of –
Tool: Database, Software and Others.
Application: Computational Physiological Medicine, Drug Discovery And Development, Medical Imaging, Disease Modeling, Predictive Analysis Of Drug Targets, Cellular Simulation and Simulation Software.
Geographical Location: Americas, Europe, Asia-Pacific and Rest of the World.
Some of the key players involved in the Computational Medicine and Drug Discovery Software Market are as follows:
Chemical Computing Group Inc.
Nimbus Therapeutics, Inc.
Rhenovia Pharma Limited
Crown Bioscience Inc.
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