Computational Biology Market Expected to Reach $31.5 Billion by 2031 (CAGR of 19.5%)

According to a new report published by Allied Market Research, titled, “Computational Biology Market," The computational biology market size was valued at $5.5 billion in 2021, and is estimated to reach $31.5 billion by 2031, growing at a CAGR of 19.5% from 2022 to 2031.

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Computational bio-modeling uses computer-aided biological models to generalize methods and properly depict simulations in virtual space to review difficulties in biological models. Computational genetics is a branch of computational biology that studies genomic homology and internal biological systems through genome sequencing. One of the most notable examples is the Human Genome Project, which successfully sequenced the whole human genome.

Computational biology is used in neurology to visualize and understand three-dimensional simulated models of the brain by mapping pathways. During drug development, computational pharmacology uses computer-aided visualization techniques to simulate advanced drug interactions. Epidemiological studies have major limitations in demonstrating causation, whereas laboratory studies are designed to do so.

Reasons that have led to the growth of the computational biology industry include increasing R&D activities for drug discovery, demand for predictive models, usage in population-based projects such as the human genome project and government funding. For example, in March 2019, Ambrx Inc., a clinical-stage biopharmaceutical company focused on protein therapy, entered into an R&D partnership with BeiGene, Ltd., a pharmaceutical company involved in oncology cancer drug development. Ambrx has a proprietary extended genetic code platform designed to integrate unnatural amino acids into protein sequences in cells of E. coli and Chinese hamster ovary (CHO). Through this collaboration, the two companies will support Ambrx's drug discovery, as well as the organization of Ambrx's expertise and resources for advanced biologics.

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North America accounted for a majority share of the computational biology market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed due to surge in demand for tools of computational biology in various fields such as genomics, epi-genomics, proteomics, and meta-genomics for better understanding of protein structure & interaction; increase in number of approvals for computational biology products; strong presence of key players; and advancement in healthcare & medical device in the region. however, Asia-Pacific is anticipated to witness lucrative growth, owing to technological advancements in the field of healthcare.

Some of the key players operating in the global computational biology market include Altaris capital partner, Compugen ltd., Certara, Genedata AG, Dassault systems, DNAnexus, Nimbus discovery, Instem, Rosa & co. ltd, and Simulation Plus

KEY FINDINGS OF THE STUDY

• By application type, the cellular & biological simulation services segment was the highest contributor to the market in 2021.
• By services, the contract service was the highest contributor to the market in 2021.
• By end use, the academic & research segment is projected to grow at a significant CAGR of 20.2% from 2022 to 2031.
• By region, North America garnered largest revenue share in 2021, whereas LAMEA is anticipated to grow at the highest CAGR of 23.0% during the review period.