Computer-aided drug discovery or CADD is the computational approach for modern discovery of drugs. It includes rational drug design, molecular modeling, computational chemistry, and molecular design. CADD can save a lot of time in drug discovery and is therefore very cost-effective. The demand for rapid drug development for numerous diseases such as cancer is increasing, which is boosting the growth of the global computer-aided drug discovery market.
COVID-19 Impact Analysis
The outbreak of COVID-19 across the globe has progressively impacted the global computer-aided drug discovery market, owing to rapid increase in RD activities among the researchers, scientists, and biopharmaceutical technological companies in order to curb the spread of the coronavirus disease. Besides, the increasing transmutation rate of COVID-19 has motivated the scientists around the world to discover and develop an effective treatment or drug against the deadly virus. Thus, the importance of research and drug discovery has upsurged, thus boosting the growth of the market.
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Moreover, several companies are taking initiatives to sustain and help the society to recover from the chaotic situation with various strategic steps and plans. For instance, in December 2020, BenevolentAI, the UK-based developer of artificial intelligence (AI) and computational medicine technologies, announced that they are developing drugs for COVID-19 treatment with the help of AI and computer-aided drug discovery technology. All these factors are predicted to boost the growth of the global computer-aided drug discoery market during the pandemic period.
Computer-aided Drug Discovery Market Trends and Developments
The companies operating in the global industry are adopting various growth strategies and business tactics such as partnerships, business expansion, investments, collaborations, drug development, and drug approvals to obtain a leading position in the global industry, which is predicted to drive the growth of the global computer-aided drug discovery market in upcoming years. For instance,
In February 2021, Optibrium, a leading developer of software for drug discovery, announced to have raised significant investment from a leading UK mid-market private equity firm, Kester Capital, to advance computer-aided drug discovery. The funding will speed-up the development of the business through acquisition and organic growth. Presently, more than 150 organizations across the globe deploy Optibrium’s technology in their research programs.
In June 2021, Mydecine Innovations Group, a biotechnology company in the psychedelics space, announced the launch of virtual drug discovery program that will use machine learning (ML) and artificial intelligence (AI) to inform its drug discovery process.
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Forecast Analysis of Global Computer-aided Drug Discovery Market
The global computer-aided drug discovery market is projected to witness a striking growth during the forecast period, owing to the rising combination of different technologies that speed up the research activities in CADD and provides accurate results in short span of time. In addition, the advancements in computer-aided drug discovery is expected to create huge growth opportunities for the global market. Conversely, the lack of technical knowledge and availability of skilled technicians are factors expected to hamper the market growth in the projected timeframe.
The growing usage of artificial intelligence (AI) in drug discovery for drug screening, polypharmacology, chemical synthesis, and to study the three-dimensional (3D) structure of molecules is the significant factor estimated to propel the growth of the global market in the coming future. According to a latest report published by Research Dive, the global computer-aided drug discovery market is expected to garner $7,504.7 million during the forecast period (2022-2030). Regionally, the North America region is estimated to dominate in the global industry, mainly due to increasing and advanced research activities carried out using computer-aided drug discovery in the field of cancer. The key players functioning in the global market include BOCSCI Inc., Schrödinger, Inc., Bioduro-Sundia, Aragen Life Sciences Pvt. Ltd., Charles River Laboratories, Aris Pharmaceuticals, Inc., Bayer AG, Albany Molecular Research Inc. (AMRI), and AstraZeneca.
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