Market Size of Computational Biology Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 13.33 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Computational Biology Market Analysis
The Global Computational Biology Market size is expected to grow from USD 6,803.88 million in 2023 to USD 12,719.82 million by 2028, registering a CAGR of 13.33% during the forecast period (2023-2028).
The COVID-19 pandemic impacted the computational biology market significantly. In addition to expediting the discovery of the genome and protein structure, variant calling, mutation, and other biological aspects of SARS-CoV-2, computational biology was helpful in various other ways. Bioinformatics research facilitates the search for evidence of the viral origin, host, and evolution. Aside from that, bioinformatics methods like molecular docking, molecular dynamics simulation, and artificial intelligence (AI) technologies were thought to speed up the search for novel drugs for COVID-19 infection. For instance, as per the review article published in the Briefings in Bioinformatics Journal in March 2021, the ARTIC network, which has vast experience and skill in using this technology in the sequencing and surveillance of outbreaks, including Zika and Ebola, has created and optimized the SARS-CoV-2 nanopore sequencing procedure. Nanopore sequencing is used to create SARS-CoV-2 genomes with high accuracy and to monitor COVID-19 transmission as well as viral development over time. Hence, developments and research in computational biology increased during the pandemic and fueled the growth of the market studied. This is further anticipated to drive the market's growth over the forecast period.
Factors such as an increase in bioinformatics research, an increasing number of clinical studies in pharmacogenomics and pharmacokinetics, and the growth of drug designing and disease modeling are anticipated to contribute to the growth of the computational biology market over the forecast period.
Bioinformatics is recognized as part of the essential knowledge base of numerous biomedical research and healthcare career paths. Bioinformatics and computational biology have undergone several transformations over the decade and established themselves as key components of new biology. For instance, per the data the Department of Biotechnology (DBT) updated in February 2022, the expansion of sequence databases due to genome sequencing initiatives has increased the demand for bioinformatics tools and knowledge. In addition, as per Johns Hopkins University data updated in January 2023, computational medicine has advanced in healthcare by creating computational models of disease, personalizing these models with patient data, and using these models to enhance disease diagnosis and treatment. Thus, the rising demand for genome sequencing and the adoption of computational methods in healthcare is anticipated to fuel the growth of the studied market over the forecast period.
Moreover, recent improvements in bioinformatics include capacity-building through activities such as research funding and training opportunities. Increased funding in bioinformatics is helping to create more advancements in computational biology. For instance, in July 2022, a former executive at Pfizer and Bristol-Myers Squibb, Adrian Woolfson, reported USD 55 million of seed funding to reprogram biology and create next-generation genomic products. Therefore, the increased research funding for the development and research of new methods in computational biology is expected to boost the growth of the studied market during the analysis period.
However, the lack of trained professionals is a major factor expected to hinder the market's growth.
Computational Biology Industry Segmentation
As per the scope, computational biology involves developing and applying data-analytical and theoretical methods, mathematical modeling, and computational simulation techniques to study biological, ecological, behavioral, and social systems. Computational biology uses biological data to develop algorithms to understand biological systems and relationships. The Computational Biology market is segmented by Application (Cellular and Biological Simulation, Drug Discovery and Disease Modelling, Preclinical Drug Development, Clinical Trials, and Human Body Simulation Software), Tool (Databases, Infrastructure (Hardware), Analysis Software and Services), Service (In-house and Contract), End User (Academics and Industry and Commercials) and Geography (North America, Europe, Asia-Pacific, Middle-East, and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD) for the above segments.
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Computational Biology Market Size Summary
The computational biology market is poised for significant growth, driven by advancements in bioinformatics and the increasing integration of computational methods in healthcare. The COVID-19 pandemic acted as a catalyst, highlighting the importance of computational biology in genomic research and drug discovery, which in turn spurred market expansion. The field has become integral to biomedical research and healthcare, with bioinformatics tools and knowledge gaining prominence due to the expansion of sequence databases and genome sequencing initiatives. The market is further bolstered by rising investments in research and development, particularly in pharmacogenomics, drug design, and disease modeling. These factors, coupled with increased funding and training opportunities, are expected to sustain the market's growth trajectory over the forecast period.
North America currently dominates the computational biology market, supported by substantial funding and investments in the region. The United States, in particular, is a key player, with government organizations actively investing in computational biology to address challenges in biotechnology studies. Collaborative efforts in personalized medicine and advancements in precision medicine are also contributing to market growth. The competitive landscape is characterized by the presence of major players and the entry of new companies, which are enhancing market competitiveness through technological advancements and product innovations. These dynamics, along with ongoing developments in software tools and AI-driven drug discovery, are anticipated to drive the market's expansion in the coming years.
Computational Biology Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increase in Bioinformatics Research
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1.2.2 Increasing Number of Clinical Studies in Pharmacogenomics and Pharmacokinetics
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1.2.3 Growth of Drug Designing and Disease Modeling
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1.3 Market Restraints
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1.3.1 Lack of Trained Professionals
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Buyers/Consumers
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1.4.2 Bargaining Power of Suppliers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD)
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2.1 By Application
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2.1.1 Cellular and Biological Simulation
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2.1.1.1 Computational Genomics
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2.1.1.2 Computational Proteomics
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2.1.1.3 Pharmacogenomics
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2.1.1.4 Other Cellular and Biological Simulations (Transcriptomics/Metabolomics)
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2.1.2 Drug Discovery and Disease Modelling
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2.1.2.1 Target Identification
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2.1.2.2 Target Validation
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2.1.2.3 Lead Discovery
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2.1.2.4 Lead Optimization
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2.1.3 Preclinical Drug Development
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2.1.3.1 Pharmacokinetics
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2.1.3.2 Pharmacodynamics
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2.1.4 By Clinical Trials
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2.1.4.1 Phase I
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2.1.4.2 Phase II
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2.1.4.3 Phase III
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2.1.5 Human Body Simulation Software
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2.2 By Tool
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2.2.1 Databases
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2.2.2 Infrastructure (Hardware)
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2.2.3 Analysis Software and Services
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2.3 By Service
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2.3.1 In-house
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2.3.2 Contract
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2.4 By End-User
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2.4.1 Academics
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2.4.2 Industry and Commercials
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2.5 Geography
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2.5.1 North America
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2.5.1.1 United States
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2.5.1.2 Canada
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2.5.1.3 Mexico
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2.5.2 Europe
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2.5.2.1 Germany
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2.5.2.2 United Kingdom
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2.5.2.3 France
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2.5.2.4 Italy
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2.5.2.5 Spain
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2.5.2.6 Rest of Europe
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2.5.3 Asia-Pacific
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2.5.3.1 China
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2.5.3.2 Japan
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2.5.3.3 India
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2.5.3.4 Australia
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2.5.3.5 South Korea
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2.5.3.6 Rest of Asia-Pacific
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2.5.4 Middle East and Africa
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2.5.4.1 GCC
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2.5.4.2 South Africa
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2.5.4.3 Rest of Middle East and Africa
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2.5.5 South America
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2.5.5.1 Brazil
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2.5.5.2 Argentina
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2.5.5.3 Rest of South America
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Computational Biology Market Size FAQs
What is the current Global Computational Biology Market size?
The Global Computational Biology Market is projected to register a CAGR of 13.33% during the forecast period (2024-2029)
Who are the key players in Global Computational Biology Market?
Dassault Systèmes SE, Chemical Computing Group ULC, Genedata AG, Instem PLC and Compugen Ltd are the major companies operating in the Global Computational Biology Market.