Global Computational Biology Market Report and Forecast 2024-2032

Global Computational Biology Market Size

The global computational biology market was valued at USD 5.25 billion in 2023 driven by increasing investments in computational biology research and the rising interdisciplinary collaborations across the globe. The market is further expected to grow at a CAGR of 22.5% in the forecast period of 2024-2032 to attain a value of over USD 32.55 billion by 2032. 

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Global Computational Biology Market Outlook

• The rising regulatory support towards the integration of advanced computational methods in drug safety and efficacy evaluations is expected to drive market demand in the forecast period.

• The increasing adoption of high-performance computing (HPC) and cloud computing in computational biology is poised to drive innovation and growth in the market.

• The market share is influenced by the increased strategic collaborations, substantial investments, and advancements in bioinformatics tools.

Global Computational Biology Market Overview

Computational biology is defined as a field of science that involves the collection, storage, organization, and analysis of a large amount of biological, medical, and health-related data with the help of computers, databases, applied mathematics, statistics, and others. It involves the development and application of mathematical modelling, computational simulation techniques, and data-analytical methods to study biological systems.

The global computational biology market is driven by its growing demand in various end-use sectors, including academics and research studies. The computational approaches help enhance the management of a large volume of data during clinical trials and allow for the efficient utilization of biological data to develop algorithms. The rapid development of molecular biology and genetic engineering tools has been contributing to the market growth significantly. The growing application of computational biology in various commercial and third-party services for carrying out drug discovery processes is likely to boost the market share in the forecast period. Other factors that influence the market growth include advancements in bioinformatics tools, innovations in cloud computing, and increased grants and funding programs to support computational biology research.

Global Computational Biology Market Growth Drivers

Regulatory Support for Advanced Computational Methods to Affect the Market Landscape Significantly

In August 2023, biosimulation company Certara’s division Simcyp Group received two new grants from the United States Food and Drug Administration (FDA) with the aim of expanding its innovative predictive models for drug virtual bioequivalence (VBE) studies and creating a formulation toolbox for topically applied drugs. This collaboration with the FDA will facilitate the development of model-informed approaches and is likely to ensure faster and more cost-effective development of novel drugs as well as complex generics. The rising regulatory support towards the integration of advanced computational methods in drug safety and efficacy evaluations is anticipated to bolster market growth in the coming years.

Increased Investment to Meet Rising Computational Biology Market Demand

There is a growing recognition of the importance and potential of computational biology, which is attracting significant investments from institutional investors, private donors, and venture capitalists. For instance, in November 2023, Carnegie Mellon University's Computational Biology Department received an investment of USD 25 million from the university's trustees. The funding was intended to be used in establishing an endowment, supporting the program's strategic priorities and infrastructure development. Such financial backing in the field of computational biology is poised to promote innovation and the development of new technologies, which will ultimately impact market growth.

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Global Computational Biology Market Trends

The market is witnessing several trends and developments to improve the current global scenario. Some of the notable trends are as follows:

Global Computational Biology Market Segmentation

Market Breakup by Services

• On-Premises

• Cloud-Based

Market Breakup by Application

• Genomics and Genetics

• Drug Discovery and Development

• Others

Market Breakup by End User

• Academics

• Industry

• Commercial

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Computational Biology Market Share

Market Segmentation Based on Application Areas is Anticipated to Witness Substantial Growth

The market breakup by application includes genomics and genetics, and drug discovery and development, among others. The genomics and genetics segment employs computational biology in the analysis and interpretation of genetic and genomic data. Computational tools are increasingly utilized in genome sequencing and analysis, genetic variation and mutation analysis, comparative genomics, and others. This segment benefits significantly by leveraging advanced computational biology techniques in research studies for facilitating an enhanced understanding of genetic disorders and the development of genetic tests. The drug discovery and development segment is also poised to witness substantial growth, owing to the growing demand for computer simulations in drug design, virtual screening to identify potential drug candidates, and the process of discovering new drugs and therapies.

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Global Computational Biology Market Analysis by Region

Based on the region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In North America, the market holds a considerable share and is driven by the growing investments directed at the development of efficient design and modeling-related computational tools to assess the complexity of biological systems. Over the forecast period, the rising government funding towards academic and biological research studies in countries like the United States and Canada is likely to propel the market growth. The market will further be aided by the rising penetration of advanced digital solutions and high-performance computation tools, coupled with the increasing research and development across the region.

Leading Players in the Global Computational Biology Market

The key features of the market report comprise funding and investment analysis and strategic initiatives by the key players. The major companies in the market are as follows:

Chemical Computing Group

The software company based in Canada, is a key player in the market and is known for its drug discovery software platform MOE (Molecular Operating Environment) which integrates modeling and simulations, visualization, and methodology development.

Dassault Systèmes S.E.

This French multinational software corporation, specializing in the development of software for 3D product design and simulation, is a prominent player in the market. One of its popular products is the BIOVIA Pipeline Pilot which allows researchers to automate complex data analysis processes.

Certara, Inc.

Certara offers a wide range of services in model-based drug development, regulatory science, and clinical pharmacology and significantly contributes to the computational biology market growth. It boasts a robust portfolio including leading PK/PD modeling and simulation software Phoenix®.

Instem plc

Instem plc, a global provider of software solutions and services, offers a broad range of solutions supporting both preclinical and clinical research. The company is known for its ALPHADAS software solution, a clinical trial management system (CTMS) designed for early-phase clinical trials.

Other key players in the market include Compugen, Genedata, YOKOGAWA DENKI KABUSHIKI KAISHA, STRAND LIFE SCIENCES PRIVATE LIMITED, Schrödinger, Inc., and SimulationPlus.

Key Highlights of the Report

Computational Biology Market Report Snapshots

Computational Biology Market Size

Computational Biology Market Growth

Computational Biology Market Trends

Computational Biology Market Share

Computational Biology Regional Analysis

Computational Biology Companies

Key Questions Answered in the Global Computational Biology Market Report

• What was the global computational biology market value in 2023?
• What is the global computational biology market forecast outlook for 2024-2032?
• What are the regional markets covered in the EMR report?
• What is market segmentation based on services?
• What is the market breakup based on application?
• Who are the major end users in the market?
• What are the major factors aiding the global computational biology market demand? 
• How has the market performed so far and how is it anticipated to perform in the coming years?
• What are the market's major drivers, opportunities, and restraints? 
• Which regional market is expected to lead the market share in the forecast period? 
• Which country is expected to witness expedited growth during the forecast period? 
• How do the prevalence and incidence of chronic diseases affect the market landscape?
• What are the major global computational biology market trends?
• How does the rising demand for personalized medicine impact the market size?
• What service type will dominate the market share? 
• Which application area is expected to have a high market value in the coming years?
• Which end user is projected to contribute to the highest market growth?
• Who are the key players involved in the computational biology market?
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, mergers and acquisitions among the key market players shaping the market dynamics?