Pune, India, August, 2018 /press release/- Market Research Future Published a Cooked Research Report on Global Molecular Modelling Market Research Report.
The global market size for molecular modeling is set to exceed the value of USD 893.1 million by 2023, reports Market Research Future (MRFR). Molecular modeling is concerned with molecules, their calculations, and predictions with respect to the research field. In other words, molecular modeling is the analysis of the ways to mimic the behavior of molecules and molecular systems. At present, molecular modeling is associated with computer modeling, where computational biology techniques are involved. These techniques are widely used in the chemical and pharmaceutical industry. It also plays a vital role in drug discovery.
The driving factors for the market include increasing investments in research and development (R&D), growing prevalence of chronic diseases, and surging demand for better treatment. In addition, changing lifestyles and growing geriatric population have elevated the probability of causing different diseases. In tandem, technological advancements are growing which in turn, increases the need for the cost-effective treatment and growth in the biology and biosimilars markets. These factors have primarily fueled the market growth.
Although the market is growing significantly, lack of skilled professionals in the field can prove to be an impeding factor. The market will, however, remain unaffected on account of low priced treatment procedures and growing sophistication of healthcare infrastructure across the globe.
Also, an industry trend in the form of artificial intelligence (AI) has proceeded to penetrate into the market. For instance, in August 2018, an AI approach has been developed at the University of North Carolina which teaches itself to design new drug molecules from scratch.
Global Market for Molecular Modelling – Segmental Analysis
The market segments are based on product, application, end-user, and region.
By product, the market is segmented into software and services. Among these, software is likely to remain the largest segment during the review period. The sub-segment reached the value of USD 237.79 million in 2017, growing at the rate of 13.55% during the forecast period.
By application, the market is segmented into drug development, drug discovery, and others. Drug discovery is sub-segmented into direct drug design, indirect drug design, and molecular mimicry. Among all applications, drug development is projected to capture major market share of USD 246.34 million by 2023, at a CAGR of 13.26%. The segment growth can be attributed to the increasing prevalence of various diseases and increasing resistance against existing treatment drugs.
By end-user, the global market is segmented into pharmaceutical and biotechnological companies, research centers and academic institutions, and others. among these, pharmaceutical and biotechnological companies claimed a major market share of USD 182.46 million in 2017 and presumed to grow at a CAGR of 13.84% over the appraisal period. It captured 48.4% share of the market in 2017. The growth of this segment is owing to the rising research and development activities in drug discovery and development leading to the increasing application of molecular modeling in pharmaceutical and biotechnology companies.
By region, the global market is segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA).
Among all regions, the Americas led the molecular modeling market, accounting for the largest share in 2017. This is due to the increasing prevalence of chronic diseases coupled with rising expenses in research and development by healthcare bodies and government.
MRFR also acknowledges the substantial market share claimed by Europe in the global molecular modeling market, standing second globally. This position has been achieved on the basis of easy access to advanced treatment facilities, rising government initiatives for research to find a cure to the growing cases of chronic diseases, and growing healthcare expenditure.
APAC is estimated to have a sturdy growth rate throughout the review period on account of the huge patient pool of chronic diseases combined with government initiatives of healthcare reform. However, less capital investment, lack of awareness regarding healthcare IT, and high cost of molecular modeling software can prove to be detrimental to the market growth in this region.
Lastly, the Middle East and Africa will be subject to least growth in the market on account of limited adoption of healthcare IT and limited access and availability of treatment facilities. However, increasing economic growth and improving healthcare infrastructure will prove to be beneficial for the market in the foreseeable future.
Global Market for Molecular Modelling – Competitive Dashboard
Simulations Plus, Inc, Schrödinger, LLC, Dassault Systèmes, Chemical Computing Group, OpenEye Scientific Software, BioSolve-IT, Cresset, Optibrium, Cambridge Crystallographic Data Centre, Acellera Ltd, Certara, L.P, and others. Acquisitions and collaborations are used in expanding the footprint of existing players.