The Drug Modelling Software Market size is projected to reach US$ 17.14 billion by 2031 from US$ 7.96 billion in 2023. The market is expected to register a CAGR of 10.1% in 2023–2031.The increased adoption of advanced technology such as artificial intelligence in drug discovery software are likely to remain key Drug Modelling Software Market trends.
There has been constant increase in the prevalence of chronic conditions such as cardiovascular disorders, cancer, neurological conditions, and others which has created the demand novel drugs for treatment of such conditions. The increase in research activities by pharmaceutical manufacturers and CROs for the development of novel drugs has increased the adoption of drug modelling software to enhance the overall drug discovery process. Moreover, surge in partnerships and collaborations among pharmaceutical manufacturers and software developers are also expected to expedite the entire process and contribute to the drug modelling software.
Drug discovery is one of the complex, expensive and time consuming process and the developers are constantly under pressure because there is always scope for drug failure at any point of the entire process. The entire drug development takes approximately 10-15 years for the completion and commercialization of the developed drug. This entire process requires resources such as capital, trained professionals, and machinery. Most of the pharmaceutical companies outsource such services which only requires huge capital. Moreover, increase in automation has further led to increased used of software to simplify some of the works which is time saving. Furthermore, increase in contract research organizations and prevalence of various chronic conditions fuelled the drug development activities which in turn increases the deployment of drug modelling software contributing to the market growth.
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Drug Modelling Software Market: Strategic Insights
In the last few years, several computational tools have been developed for the identification, selection, and optimization of pharmacological lead candidates. Currently, there are several computational approaches available for the drug discovery process. The predictive power of these tools has been proven to be very advantageous, allowing researchers to bypass the screening of billions of molecules. As a result, computational services, such as quantitative structure-activity relationship (QSAR), modelling, and computer-aided drug design (CADD), have now become an integral part of the pharmaceutical industry. Moreover, pharmaceutical companies that are focused on the development of large molecules are likely to continue outsourcing their respective drug discovery and development operations from drug Modelling providers.
The companies engaged in drug discovery and development are adopting various business strategies to expedite discovery timelines and improved product success. The future of drug discovery relies on the collaboration among innovative biotech companies, academics, and pharma. Moreover, several players involved in this space are continuously expanding their capabilities to enhance their respective in silico-based service portfolio and maintain a competitive edge in the industry. A lot of pharmaceutical companies have been benefited by adopting these technologies, which, in turn is expected to propel the growth of the drug Modelling software during the forecast period. For instance, in march 2022, Acellera and Chemotargets collaborate to offer drug discovery and development services and to advance a common internal pipeline of drug development projects.
Key segments that contributed to the derivation of the Drug Modelling Software Market analysis are product type and application.
The geographic scope of the Drug Modelling Software Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the Drug Modelling Software Market owing to the Rapidly integration of artificial intelligence (AI) technology in the drug discovery, increasing preference for personalized medicine, high R&D spending and sophisticated infrastructure are some of the prominent factors propelling the market growth. In North America, the US is the largest market for drug Modelling software driven by the rapid integration of AI for the drug discovery, increasing preference for personalized medicine, high R&D spending for novel therapeutic applications and presence of major market players in the US. In addition to this, rising collaboration and partnerships among pharmaceutical companies with the artificial intelligence technology companies for the development of the drugs, further boosting the growth of the market. Furthermore, growing awareness about the artificial intelligence technologies in the pharmaceutical industries of the developing region, further proving the various growth opportunities in the market. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
The regional trends and factors influencing the Drug Modelling Software Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Drug Modelling Software Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 7.96 Billion |
| Market Size by 2031 | US$ 17.14 Billion |
| Global CAGR (2023 - 2031) | 10.1% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Drug Modelling Software Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Drug Modelling Software Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Drug Modelling Software Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for drug modelling software and strategies:
The “Drug Modelling Software Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: