New York, April 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Computational Biology Global Market Report 2023" - https://www.reportlinker.com/p06323507/?utm_source=GNW
, Biomax Informatics AG, DNAnexus, Inc., SOPHiA GENETICS, and Waters Corporation.
The global computational biology market grew from $5.97 billion in 2022 to $7.15 billion in 2023 at a compound annual growth rate (CAGR) of 19.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The computational biology market is expected to grow to $15.07 billion in 2027 at a CAGR of 20.5%.
The computational biology market includes revenues earned by entities by providing biological notions rigor and verifiability, as well as by offering a framework that connects diverse insights.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Computational biology refers to the field of science that teaches students how to use computer science, statistics, and mathematics to solve biological problems. A wide range of biological disciplines, including genomics/genetics, biophysics, cell biology, biochemistry, and evolution, are included in computational biology.
North America was the largest region in the computational biology market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the computational biology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of computational biology are in-house and contract.The in-house market consists of sales of computational biological solutions that are performed within a company.
The firm uses its own employees and time to perform a business activity, such as financing or brokering.The various tools applied are databases, infrastructure (hardware), and analysis software and services that are used in applications such as cellular and biological simulation, drug discovery and disease modelling, and clinical trials.
The industries that have adopted computational biology are research, the pharmaceutical industry, and commercial applications.
Government funding has been the major driver in the computational biology market.Governments across the globe are funding infrastructure and academic courses to improve the capabilities of computational biologics in R&D, educational institutions, and other sectors.
The rapid growth in government funding is expected to boost the demand for computational biological solutions, as they are widely used in R&D, clinical research, and other development activities. According to the study published in National Cancer Institute, the annual funding for cancer research and biological research increased from $5.9 billion in 2018 to $6.4 billion in 2020. Therefore, government funding is driving the growth of the computational biology market.
Computational bio-modelling is a key trend gaining popularity in the computational biologics market.Computational bio-modelling involves mathematical representation of the biological process to study complex behavior.
The companies operating in computational biologics are offering innovative services in computational bio-modelling to accelerate development activities. For instance, in 2020, Zymvol, a Spain-based provider of enzyme discovery and design services, launched new services in a combination of molecular modelling and bioinformatics to accelerate enzyme discovery and design services.
In March 2022, ZS Associates, a US-based provider of professional services acquired Intomics for an undisclosed amount.Through this acquisition, ZS Associates is focused on diversifying their business activities and offering its clients innovative solutions.
Intomics is a Denmark-based provider of bioinformatics solutions and system biology.
The countries covered in the computational biology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The computational biology market research report is one of a series of new reports that provides computational biology market statistics, including computational biology industry global market size, regional shares, competitors with a computational biology market share, detailed computational biology market segments, market trends and opportunities, and any further data you may need to thrive in the computational biology industry. This computational biology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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