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The computational biology market has experienced significant growth in recent years. It is projected to increase from $6.96 billion in 2023 to $8.27 billion in 2024, reflecting a compound annual growth rate (CAGR) of 18.8%. The historical growth can be attributed to factors such as multi-omics integration, advancements in personalized medicine and precision healthcare, the genomic sequencing revolution, and the management of large biological datasets.
What Is The Estimated Market Size Of The Global Computational Biology Market And Its Annual Growth Rate?
The computational biology market is anticipated to witness exponential growth in the coming years, projected to reach $17.86 billion by 2028, with a compound annual growth rate (CAGR) of 21.2%. This forecasted growth can be attributed to several key factors, including the rise of cloud computing and high-performance computing (HPC), the adoption of quantitative and predictive biology, increased collaborative interdisciplinary research, and advancements in bioinformatics and computational tools. These developments are expected to enhance research capabilities and facilitate the integration of complex biological data, driving market expansion.
Growth Driver Of The Computational Biology Market
The growing demand for personalized medicine is poised to drive the growth of computational biology in the coming years. Personalized medicine, or precision medicine, tailors medical treatments based on individual variability in genetics, environment, and lifestyle. By analyzing genetic data, this approach enables healthcare providers to create targeted treatment plans for patients.
Who Are The Leading Competitors In The Computational Biology Market Share?
Key players in the market include Accelrys Inc., Certara L. P, Chemical Computing Group Inc., Compugen Ltd., Entelos Inc., Genedata AG, Insilico Biotechnology AG, Dassault Systèmes SE, Instem PLC, Rosa & Co. LLC, Simulation Plus Inc., Nimbus Discovery LLC, Rhenovia Pharma SAS, Leadscope Inc., DNAnexus, Altaris Capital Partner, Genialis Inc., Inari Agriculture Inc., BC Platforms, Ventus Therapeutics, Monte Rosa Therapeutics, Schrodinger Inc., Strand Life Sciences, Entos Pharmaceuticals, Numerate Inc., Insitro, Recursion Pharmaceuticals, Atomwise, Relay Therapeutics, Exscientia.
What Are The Dominant Trends In Computational Biology Market Growth?
Major companies in the computational biology market are actively developing innovative solutions for proteomics research to enhance their competitive advantage. Proteomics research involves the comprehensive analysis of proteins within a biological system, providing critical insights into cellular processes, disease mechanisms, and potential therapeutic targets.
How Is The Global Computational Biology Market Segmented?
1) By Services: In-house, Contract
2) By Tools: Databases, Infrastructure (Hardware), Analysis Software and Services
3) By Application: Cellular and Biological Simulation, Drug Discovery and Disease Modelling, Clinical Trials
4) By End Users: Research, Pharmaceutical Industry, Commercial Applications
Geographical Insights: North America Leading The Computational Biology Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Computational Biology Market Definition
Computational biology refers to the field of science that teaches students how to use computer science, statistics, and mathematics to solve biological problems. A wide range of biological disciplines, including genomics/genetics, biophysics, cell biology, biochemistry, and evolution, are included in computational biology.
Computational Biology Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global computational biology market report covering trends, opportunities, strategies, and more
The Computational Biology Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on computational biology market size, computational biology market drivers and trends, computational biology market major players and computational biology market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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