DUBLIN–(BUSINESS WIRE)–The “In Silico Drug Discovery Market: Focus on Product, Workflow, Technology, and End-User – Analysis and Forecast, 2021-2031” report has been added to from ResearchAndMarkets.com offer.

The in silico drug discovery market is expected to reach $6,515.3 million by 2031 from $2,129.8 million in 2020, at a CAGR of 10.52% during the forecast period 2021- 2031.

Factors fueling the growth of the market include growing emphasis on reducing medical errors, technological advancements in the field of computational biology, and growing adoption of cloud-based applications in drug discovery procedures . New drug compounds have been successfully developed using computational methods. Developments in computational biology have facilitated the analysis and data analysis phases of sequencing and resulted in reduced turnaround times and greater accuracy.

In the research report, the market has been segmented on the basis of workflow, product, technology, software type, end user, and region. Each of these segments covers the snapshot of the market over the projected years, market revenue inclination, underlying patterns and trends using analyzes on primary and secondary data obtained.

The exponential increase in the prevalence of infectious diseases and various types of cancer around the world has created a craze among companies to invest in advanced technologies such as artificial intelligence.

Based on region, North America holds the largest share, owing to improved healthcare infrastructure, rising per capita income, and improvised reimbursement policies in the region. However, Asia-Pacific and Europe regions are expected to grow at the fastest CAGR during the forecast period.

Key Questions Answered by the Report

• How is each segment of the market expected to grow during the forecast period 2021-2031, and what is the expected revenue that will be generated by each segment?

• What are the key market drivers, restraints and opportunities in the global in silico drug discovery market?

• What are the underlying structures resulting from the emerging trends in the global in silico drug discovery market?

• How is each segment of the global in silico drug discovery market expected to grow during the forecast period, and what will be the expected revenue generated by each of the segments by the end of 2031?

• What are the key development strategies implemented by the major players to stay in the competitive market?

• What are the key regulatory implications in developed and developing regions for in silico drug discovery?

• Who are the key players with significant offerings in the global in silico drug discovery market? What is the current market dominance for each of these major players?

• What would be the compound growth rate observed by the major market players during the forecast period 2021-2031? What type of in silico drug discovery workflow has the most promising growth?

• What are the key technologies used in the global in silico drug discovery market? What is the dominant technology?

• Who are the major end users of the global in silico drug discovery market? What is the fastest growing end-user segment in the global in silico drug discovery market?

• Who are the key manufacturers in the global in silico drug discovery market and what are their contributions? Additionally, what is the growth potential of each major in silico drug maker?

• What is the scope of the global in silico drug discovery market in North America, Europe, Asia-Pacific, Latin America and Rest of the World? Which in silico drug discovery technology and which end user dominates these regions?

• What are the emerging trends in the global in silico drug discovery market? How are these trends revolutionizing the diagnostic approach?

• What technologies should break into the in silico drug discovery regime?

• Which companies are expected to be highly disruptive in the future and why?

• What regulatory procedures are needed to unify the approval process for the emerging in silico drug discovery market? How will this improve the repayment scenario?

Market dynamics

Drivers

• Increased focus on reducing medical errors

• Technological advances in the field of computational biology

• Integration of Blockchain technology in interoperability

• Growing adoption of cloud-based applications for drug discovery

Constraints

• Lack of high complexity test centers

• Expensive in silico drug discovery procedures and declining number of approved drugs

• High capital requirement hinders expansion of global reach

Opportunities

• Massive reach for the adoption of in silico drug discovery in developing countries

• Adopting artificial intelligence in in silico drug discovery

Companies cited

• Aragen Life Sciences Pvt. ltd.

• Curia Global, Inc.

• Certara, United States.

• Charles River

• ULC Chemical Computing Group.

• Collaborative Drug Discovery Inc.

• Dassault Systems

• e-therapeutics plc.

• Evotec

• Insilico Medicine

• Ligand Pharmaceuticals Incorporated

• Numerate, Inc.

• Perkin Elmer Inc.

• Schrodinger, Inc.

• Selvita

• Simulation More

• Tracxn Technologies

• WuXi AppTec

For more information on this report, visit https://www.researchandmarkets.com/r/mltnvn