The global in-silico drug discovery market is projected to generate $5,682.3 million revenue by 2030, advancing at a CAGR of 10.4% during 2021–2030. The key factors driving the market include the increasing focus on reducing medical errors, technological advancements in the field of computational biology, and growing use of cloud-based applications in drug discovery.
COVID–19 has had a positive impact on the in-silico drug discovery market, as various research studies, drug discovery programs, and clinical trials are being conducted in order to counteract the epidemic. To combat the condition, a variety of medications are being repurposed. Scientists from all across the world have been working to develop the perfect chemicals to combat the pandemic.
Contract research organizations will witness the fastest growth, with a CAGR of more than 10%, during 2021–2030. CROs are reducing the costs for companies developing new medicines. Moreover, working with a CRO provides a sponsor with immediate access to almost everything they require to run a successful clinical research program.
Moreover, pharmacophore modeling software held the largest share in 2021, as its usage in the rational design of new medications has become common. The idea of pharmacophore can be applied to ADME-tox modeling and off-target prediction. Furthermore, to improve virtual screening, the method is frequently used with molecular docking simulations.
At the root, computer-assisted drug development is a result of artificial intelligence. The extensive use of machine learning, particularly deep learning, in a variety of scientific areas, as well as the developments in computing hardware and software, are all contributing to this revolution. De novo design uses AI to guide the creation of new biologically active molecules with desired properties, whereas the graphics processing unit offers the power of a small computer cluster. AI is being widely used in virtual screening and molecular dynamics simulations.
The APAC in-silico drug discovery market has seen remarkable growth in software-based technologies, and various programs have been launched to support research on in-silico drug discovery solutions, for improved patient health. Moreover, Japan has been actively implementing health information systems for integrating various functionalities in its hospitals. In the same vein, Indian hospitals are quickly implementing clinical information systems to automate their departments and transition from paper-based to digital records for both departments and patients. Major super-specialty hospitals have already begun to use electronic clinical documentation technologies.
Players in the in-silico drug discovery industry have been involved in partnerships & collaboration to remain competitive. For instance, in November 2021, Evotec partnered with EQRx, a pharmaceutical company, to design, discover, and develop new therapeutic options. This approach aims to expedite the invention and development of novel drugs and ensure the translation from research ideas to safe and efficacious medicines.
Moreover, in December 2021, Ligand Pharmaceuticals Incorporated expanded its collaboration between its subsidiary, Icagen, and GlaxoSmithKline (GSK). The expansion leverages Icagen’s ion-channel-based discovery technology and expertise in small molecule therapeutics targeting transmembrane proteins.
The major players operating in the in-silico drug discovery market include Insilico Medicine, Evotec, Charles River Laboratories, WuXi AppTec, Ligand Pharmaceuticals Incorporated, Simulation Plus, Selvita, Schrödinger Inc., Aragen Life Sciences Pvt. Ltd., and Curia Global Inc.