Molecular Modeling Market Overview
The molecular modeling market is expected to cross USD 1,617.80 million by 2027 at a CAGR of 15.93%.
The approach of molecular modeling is used in medication development. It aids in the description of the production or modification of three-dimensional structures of molecules, as well as their physicochemical characteristics. It aids in the study of molecular architectures and behavior. Material science and computational biology are two more fields where the method is used. To evaluate biological and molecular characteristics, many computational approaches are used.
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Factors such as increased medication development, technical improvements in drug design, and increased R&D spending by pharmaceutical and biotechnology firms are driving the growth of the molecular modeling market. Furthermore, the rising frequency of chronic illnesses presents a significant business opportunity. The expensive cost of molecular modeling software and a scarcity of qualified healthcare workers, on the other hand, are expected to limit the market’s expansion.
The rising demand for molecular modeling in pharmaceutical and biotechnological firms in developing nations, such as Asia-Pacific and several Middle Eastern and African countries, is one of the emerging possibilities for the worldwide molecular modeling market.
Molecular Modeling Market Segmental Analysis
Global Molecular Modeling Market, by Product, the market has been segmented into software and services.
Global Molecular Modeling Market, by Application, the market has been segmented into drug development, drug discovery, and others.
Global Molecular Modeling Market, by End User, the market has been segmented into pharmaceutical and biotechnology companies, research and academic centers, and others.
Overview of the Region
During the projection period, the Americas are likely to have the greatest market share. In 2020, the region led the worldwide market, accounting for over 40% of the market. The rising acceptance of products is responsible for this huge market share. North America and South America are two subregions of the Americas. The existence of well-known research institutes and academic organizations that promote open access for research scientists helps to the region’s market growth.
During the projection period of 2021 to 2027, Asia-Pacific is expected to expand at the fastest rate. This is due to factors such as rising disposable income, an increase in the number of research institutes and contract research firms, and improved healthcare facilities. The market size of the regional market is expected to grow as the number of clinical trials linked to the research of protein structures, computational biology, and biopharmaceuticals increases. The region’s talented labor and low manufacturing costs present a chance for global companies to penetrate previously untouched markets.
In 2020, Europe accounted for USD 173.29 million, with a CAGR of 15.70 percent projected during the projection period. The increase in research funding and the number of clinical trials connected to theoretical approaches and computational techniques used to model or imitate the behavior of molecules are credited for the market’s expansion. The region is seeing an increase in approaches used in drug design, computational biology and chemistry, and materials science to explore molecular systems ranging from tiny chemical systems to massive biological molecules and material assemblies.
The Middle East and Africa are divided into two parts: the Middle East and Africa. The molecular modeling market is anticipated to develop slowly, owing to the gradual improvement in monetary position and the rise in internet retailing for pharmaceutical purchases, both of which impact the discovery of new medicines. The endemicity of some infectious disease-causing strains, as well as growing antibiotic resistance, has prompted further research on transmission control. Moreover, over the forecast period, the process of discovering novel therapeutic targets for illnesses that cause economic hardship is expected to push the molecular modeling market in the area.
Molecular Modeling Market Competitive Dynamics
The notable players of the market are Simulations Plus, Inc (US), Cambridge Crystallographic Data Centre (England), Optibrium (UK), Cresset (UK), BioSolveIT GmbH. (Germany), OpenEye Scientific Software (US), Chemical Computing Group (Canada), Acellera Ltd (London), Dassault Systèmes (France), and Schrödinger, LLC (US), Certara, L.P (US).
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