ALBANY, N.Y., Oct. 16, 2014 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research titled on "Computational Biology (Pharmacodynamics, Cellular Modeling, Computational Genomics, Proteomics, Pharmacogenomics, Pharmacokinetics, Human Simulation Software, Drug Discovery & Development) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," the global computational biology market was valued at $760 million in 2011. It is further predicted to rise at a CAGR of 21.3% from 2012 to 2018 and reach an estimated value of $2,937.3 million by 2018.
The past decade has imparted considerable changes in the field of cell biology. Today, computers are being used for examining the mechanism and overall functions taking place in the cell biology. Computational biology precisely serves the same purpose. It is a field of science that is being considered extremely useful and crucial in the healthcare industry, especially for professionals in the pediatric clinical research.
Computational biology uses databases, sequencing, and supercomputers to test the hypothesis of biology. It uses these processes to predict the behavior of molecules and accordingly prepare the algorithm and study analysis. These molecules are taken from lead optimization and drug identification processes.
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Owing to a broad use of pharmaceutical and biotechnology companies to minimize the growing incidences of drug failures and R&D expenditures, the computational biology market is expected to exhibit a notable growth over the forecast period. The market for computational biology is in high demand also because of its ability to reduce extensive use of humans in pediatric trials, trials on orphans with diseases or tests on pregnant women. Such challenges are considered to be superseded through the use of simulation and modeling techniques. Worldwide, scientists are constantly striving to understand the alternatives to interpret the biological interactions of drug on the body, and vice-verse. This research is also termed as pharmacokinetics and pharmacodynamics respectively. Apart from this, the study of computational biology has been effective for orphan diseases as well.
Furthermore, the drug discovery market is the fastest growing sector within this industry. It is anticipated to rise at a CAGR of more than 25% in the forecast period. The upsurge in drug failures in late stage of clinical trials has compelled several pharmaceutical companies to invent new methods of drug discovery. Through drug discovery, manufacturers can now reduce the costs of R&D and also minimize the chances of late stage failure of affected drug candidates - all with the help of computational biology technology. The occurrence of drug failure in higher stages of drug development can now be minimized with the use of simulation tools and advanced computational software programs.
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This report by Transparency Market Research provides analysis of this market by two main types of research - studies-cellular modeling and disease modeling research. Both these markets are further analyzed and bifurcated with the use of simulation techniques ranging from drug development to drug discovery.
In terms of geography, this market is divided into four major regions including North America, Asia, Europe, and RoW (Rest of the world). North America occurred to be the largest market in the year 2011 due to an effective environment created by the US FDA and pharmaceutical R&D sectors. However, Asia is expected to be the next fastest growing region in the world due to the presence of lower operating costs and emergence of medium-sized regional players in the developed markets.
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The computational biology is still in its nascent stage and therefore, the industry is undergoing challenges of resource crisis. Nevertheless, due to numerous advantages discussed above, the industry would overcome all the barriers and grow leaps and bounds in the near future.
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Source:Transparency Market Research