NEW YORK, May 5, 2022 /PRNewswire/ — In 2021, the world in–silico drug discovery market was worth $2,331.8 millionand it should reach $5,682.3 million by 2030, at a CAGR of 10.4% from 2021 to 2030. Technological advances in computational biology, increasing use of cloud-based applications in drug discovery, and increasing attention to reducing Medication errors are the major factors propelling the market. In silico drug design is used for hit-to-lead selection and to speed and simplify hit identification, as well as to improve metabolism, absorption, excretion, toxicity profiles and distribution.

Due to the spread of the coronavirus, a study has been undertaken on many kinds of molecules to better understand the shape of the virus and discover a treatment. Several attempts have been made to design drugs by computer using the primary SARS-CoV2 protease. Docking was used after high-throughput virtual screening of millions of natural compound and molecule databases. As a result of the endless attempts to develop particular drugs for COVID-19, the in silico drug discovery market has witnessed a positive impact.

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Key Findings of the In Silico Drug Discovery Market Report

• The increasing use of cloud-based technologies is driving the in silico drug discovery industry. Cloud computing gives pharmaceutical researchers access to nearly infinite computing resources and enables them to scale their computing environment.
• In 2021, artificial intelligence held the largest market share, at over 40%. As the rate of digitization of data in the healthcare industry increases, AI is being used to meet the challenges of collecting and evaluating information, in order to solve complex clinical problems.
• SaaS is expected to grow at the highest CAGR in the in silico drug discovery market, around 11% over the projected timeframe. This is mainly because these solutions help users in data analysis, decision making, and data mining, providing decentralization, real-world data management, and a variety of other features. .
• Rapid technological developments in the field of computational biology are also fueling the global in silico drug discovery industry. In the creation of new pharmaceutical compounds, computational techniques have proven effective. Sequencing data processing and analysis steps have been simplified through improvements in computational biology, resulting in faster turnaround times and improved accuracy.
• Fosun Pharma has partnered with Insilico Medicine to January 2022. To create a new therapeutic portfolio, Insilico’s end-to-end AI-based drug discovery platforms will be merged with Fosun Pharma’s clinical development and commercial experience.
• Insilico Medicine and the University of Zürich team up in March 2022 leverage Insilico’s dynamic AI technology to discover new treatments for cystinosis

U.S. medical and R&D spending is expected to exceed $250 billion by 2020. Market growth can also be attributed to a developed network of manufacturers and service providers. Additionally, the FDA contribution contributed to a flexible regulatory path as well as the resolution of various issues regarding the co-development process.

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There are a number of large companies in the in silico drug discovery market, which makes it fragmented. To stay ahead of the competition, they have entered into partnerships and collaborations in recent years. Players include Charles River Laboratories, Ligand Pharmaceuticals Incorporated, WuXi AppTec, Simulation Plus, Schrödinger Inc., Aragen Life Sciences Pvt. Ltd., Selvita, Curia Global Inc., Insilico Medicine and Evotec.

In silico drug discovery market segmentation analysis

By product

• Software
• Software as a service
• Advice as a service

By Workflow

• Discovery
• Preclinical tests
• Clinical tests

By technology

Per end user

• Pharmaceutical and biopharmaceutical companies
• Contract research organizations
• Academic and research institutes

By region

• North America
• Europe
• Germany
• France
• UK
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Latin America
• Middle East and Africa
• Saudi Arabia
• South Africa

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