According to our new market research study titled “Drug Modeling Software Market – Global Analysis and Forecast – by Product Type, and Application” the global drug modeling software biopharmaceutical market is expected to reach US$ 11,299.85 million by 2027 from US$ 6,205.22 million in 2019; it is estimated to grow at a CAGR of 8.1% from 2020 to 2027. The report highlights the trends prevalent in the global drug modeling software market, and the drivers and deterrents pertaining to its growth.
Artificial intelligence and associated technologies are making drug discovery cost-effective and quick. Leading biopharmaceutical companies have been utilizing AI platforms to accelerate the drug discovery of novel therapeutics. Various late-stage clinical trials fail due to ineffective drug targets. The integration of novel computational techniques such as artificial intelligence and cloud-based platforms within silico approaches is likely to revolutionize the overall drug discovery process. With the rapid introduction of AI in healthcare, numerous pharmaceutical companies have made investments in joint ventures with AI companies to develop better healthcare tools. These include the identification of drug targets and designing new drugs. For instance, Pfizer is using IBM Watson, a machine learning system, to enhance its search for immuno-oncology drugs. Sanofi has collaborated with Exscientia’s artificial-intelligence (AI) platform, a UK-based start-up, to discover metabolic-disease therapies. Further, Genentech is using an AI system from GNS Healthcare to help drive the company’s search for cancer treatments. At present, AI tools are used in screening, identifying compounds, as well as to minimize drug interactions that may cause issues later.
With the introduction of AI in healthcare, numerous pharmaceutical companies have made investments in joint ventures with AI companies to develop better healthcare tools. These include the identification of drug targets and designing new drugs. Therefore, numerous partnerships among pharmaceutical industries, AI companies, and government organizations were witnessed on a global scale. For instance, in 2019, the Royal Free London NHS Foundation Trust entered into a five-year partnership with DeepMind Technologies (Google), in which the company is expected to assist the NHS in the management of acute kidney injury. UK’s 100,000 Genomes Project is a global project that utilizes data and AI from NHS patients with rare diseases. The project also has Roche, Merck, and Biogen as partners.
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The market growth is also attributed to a few key factors such as increasing adoption of in-silico modeling tools in drug discovery, and rising economic burden of drug discovery. However, less adoption in emerging countries is expected to hamper the growth of the market up to certain extent during the forecast period.
Crown Bioscience Inc.; Chemical Computing Group Ulc; Nimbus Therapeutics; Schrödinger, Inc.; Dassault Systèmes; Genedata Ag; Biognos Ab; Compugen Ltd; Acellera ltd.; and Leadscope, Inc plc are among the prominent players operating in the drug modeling software market. The market players are focused on organic strategies to sustain their position in the market. For instance, in March 2020, Crown Bioscience has launched two new liver fibrosis rodent models, which allows rapid and cost-effective evaluation of the preclinical effects of NASH and anti-fibrotic treatments on acute liver injury, advanced fibrosis, and/or fibrosis reversal.
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