Conventional drug delivery processes take over a decade, from lead identification to clinical trials, and are very costly. In-silico drug discovery methods help reduce cost and time for drug delivery processes. Several Food and Drug Administration (FDA)-approved drugs were developed with in-silico methods.

Computational drug discovery methods facilitate the access of vast amounts of data generated and complex biological data into helpful knowledge for drug discovery.

In-Silico Drug Discovery Market Overview

BIS Research's healthcare experts have found in-silico drug discovery market to be one of the stable markets, and the global market is predicted to grow from $2,129.8 million in 2020 to $6,515.3 million in 2031. It is expected to grow with a CAGR of 10.52% during the forecast period 2021-2031.

Amid a rampant rise in cancer-related deaths globally, artificial intelligence is expected to help fight and prevent the spread of cancers and other infectious diseases. Therefore, more and more companies are investing in advanced technologies to combat cancer.

Several technologies are supporting the growth of the in-silico drug discovery market, some of them are artificial intelligence, graphics processing unit (GPU), and others. Advanced AI companies use computational methods such as machine learning, deep learning, and cheminformatics to deliver drugs faster.

Based on BIS Research’s report, North America currently hold the largest share of the in-silico drug discovery market. This is because of the rise in per capita income, improved healthcare infrastructure, and improved reimbursement policies in the region.

However, Europe and Asia-Pacific regions are expected to grow at the fastest CAGR during 2021-2031.

Market Growth Drivers

1. Increasing focus on reducing medical errors
2. Increasing technological advancements in computational biology
3. Integration of blockchain technology in interoperability
4. Increased adoption of cloud-based applications for drug discovery

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Market Challenges

1. Lack of high complexity testing centers
2. Expensive in-silico drug discovery procedures
3. Decline in the number of drugs approved
4. High capital requirement for research and development

There is massive scope for the adoption of in-silico drug discovery in developing nations. Artificial intelligence is also helping in the acceleration of the in-silico drug discovery market.

BIS Research Healthcare Team

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