Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research's new market report, titled 'Computational Biology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018', provides a comprehensive analysis of the computational biology market on the basis of application, tools, and services.This report studies the global computational biology market for through the perspective of disease modeling and cellular modeling. It shows how computers are widely being used for examining the mechanism and various processes of cell biology. Computational biology is a field of science that is critically used in the healthcare industry. Many biotechnology and pharmaceutical companies use computational biology to reduce the incidence of late stage failures of drugs and curb the research and development costs.
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Due to its wide adoption and advanced features, the global market for computational biology is expected to rise from a market value of US$0.7 bn in 2011 to reach a value of US$2.9 bn by 2018. During the forecast period from 2012 to 2018, the market for computational biology is expected to register a CAGR of 21.30% across the globe. The market for computational biology is rapidly growing due to its benefits such as reduced need for intensive human labor in times of pediatric trials and pregnancy tests. Although there is a huge market for contract service providers of computational biology, several multinational pharmaceutical companies are setting up their own centers for computational biology in order to facilitate rapid drug discovery and development. Worldwide, several governments are funding educational institutions and infrastructure to improve their current computer systems and increase the number of computational biologists for advanced drug development.
By application, the report covers disease modeling and simulation, and cellular and biological simulation as some of the leading segments of this market. The cellular and biological simulation segment is further segmented into pharmacogenomics, computational genomics, computational proteomics, and others (transcriptomics/ metabolomics). Similarly, disease modeling and simulation is divided into drug discovery and drug development. According to the research report, the drug discovery segment is the fastest growing sector within the computational biology market, anticipated to rise at a CAGR of more than 25% during the forecast period. This segment is divided into target validation, lead discovery, target identification, and lead optimization. The drug discovery segment is rapidly growing due to the increase in drug failures in the late stages of clinical trials, which has compelled several pharmaceutical companies to invest in new methods of drug discovery. Nowadays, with the help of drug discovery, manufacturers can reduce the chances of late stage failures of affected drug patients as well as the high costs of research and development. All these benefits are achieved using simulation tools and advanced computational software programs.
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The report concludes with a discussion of the market's current status across the globe. It states that the global computational biology market is still in its nascent stage and in need of overcoming several challenges related to resources. Nevertheless, the industry is expected to overcome all the barriers and grow tremendously in the coming years.
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Source:Transparency Market Research