Global molecular modeling market set to reach USD 19.47 billion by 2032 due to demand for drug discovery solutions and technological advancements.
From GlobeNewswire: 2024-11-06 08:22:00
The Molecular Modeling Market, valued at USD 6.40 billion in 2023, is set to reach USD 19.47 billion by 2032. The growth is fueled by the need for drug discovery solutions, technological advancements, and demand for precise modeling tools in the pharmaceutical industry. Various industries benefit from the market, including pharmaceuticals, biotechnology, and materials science, as it provides essential tools for understanding molecular structures and interactions.
Key players in the Molecular Modeling Market include Cresset, Acellera Ltd, Schrödinger LLC, and more. The market size in 2023 was USD 6.40 billion, with a projected CAGR of 13.18% from 2024 to 2032. The market covers regions like North America, Europe, Asia Pacific, Middle East & Africa, and Latin America, with drivers including efficiency in drug discovery and technological advancements.
The market is segmented by product into software and services, with software dominating the market in 2023. The services segment is the fastest-growing due to the complexity of drug discovery, leading companies to outsource services like consulting and cloud-based solutions. Drug discovery is the primary application segment, while drug development is the fastest-growing, expected to improve drug pharmacokinetics and overall efficacy.
In 2023, North America led the market due to the strong presence of pharmaceutical companies and research institutions. Europe follows closely, with countries like Germany and the UK adopting advanced molecular modeling tools for drug development. The market is expected to grow further with the increasing adoption of these tools and technologies. In the field of biotech startups, molecular modeling tools are being used for drug design, especially in oncology and immunology. Simulations Plus acquired Immunetrics to enhance its capabilities in immunology and oncology drug development. Optibrium launched a cloud-based version of its StarDrop platform, aiding researchers in drug discovery. GlaxoSmithKline acquired Schrödinger’s computational platform to improve drug discovery. BioMimetic Therapeutics integrated advanced molecular simulation tools in clinical trials for neurological conditions to optimize drug efficacy and reduce side effects.
The molecular modeling market is expected to continue growing due to technological advancements and increased demand for precise drug discovery tools in North America, Europe, and beyond. To access the full report on the Molecular Modeling Market Analysis & Outlook 2024-2032, visit SNS Insider’s website. SNS Insider is a leading market research and consulting agency providing clients with current and accurate market data, consumer insights, and opinions to make informed decisions in changing circumstances.
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