According to the Market Statsville Group (MSG), the global computer-aided drug discovery market size was valued at USD 3,146.8 million in 2021 and is projected to reach USD 10,897.9 million by 2030, growing at a CAGR of 14.8% from 2022 to 2030. The demand for computer-aided drug discovery increased due to the high efficiency reached using computer-aided drug discovery growing prevalence of chronic disease across the globe coupled with increasing investment in drug discovery projects will drive the market's growth over the forecast period. High costs and cyberattacks may hamper the market's growth. However, advancing technologies creates lucrative opportunities for the market’s growth.
COVID-19 had a positive impact on the market’s growth. Computer-aided molecular modeling and virtual screening played a vital role in understanding the structural aspects of multiple molecular targets of COVID-19 and identifying novel lead molecules. In addition, pharmaceutical & biotechnology and research institutes firms are adding their efforts to fight against the global pandemic. Thus, delivering a positive growth sphere to the market amid the pandemic.
On the basis of the study, the computer-aided drug discovery market is categorized into the following segments: type, therapeutic area, and end-user, at the regional and global levels.
On a segmental basis, cardiovascular accounts for a major market share in 2021, due to the growing prevalence of cardiovascular diseases (CVD); CVD is a leading cause of death across the globe. For instance, as per the World Health Organization (WHO) data, cardiovascular diseases are the leading cause of death in the global scenario. In 2017, around 17.9 million deaths occurred due to cardiovascular diseases, which is 31% of all the deaths that occurred in the same year. The number is estimated to enhance and reach 22.2 million by the end of 2030. Similarly, as per the Centers for Disease Control and Prevention (CDC) data, annually, approximately 805,000 people in the US have a heart attack. Among them, 605,000 are the first heart attack victims, and 200,000 happen to people who have already had a heart attack. These factors are anticipated to drive the demand for novel drug molecules, which may surge the demand for the computer-aided drug discovery market over the forecast period.
On a regional basis, North America accounts for the major market share in 2021. The growth is attributed to the rising cancer cases, and in order to manage that, government and pharmaceutical companies are investing in drug discovery. The growing prevalence of cancer will drive the market's growth; for instance, according to the data from the International Agency for Research on Cancer (IARC), in 2018 about 17 million new cancer cases and 9.5 million cancer deaths were recorded globally. Around 27.5 million new cancer cases and 16.3 million cancer deaths have been expected to grow in 2024. Growing cancer cases requires effective medicine and treatment. The growing cancer cases at an alarming state will demand the effective medicine for which computer-aided drug discovery plays a crucial role, propelling the market's growth across the region.
Computer-aided drug discovery market has highly competitive rivalry due to the presence of various well-established market players coupled with the growing investment in drug discovery by various market players and governments. Such factors drive the market's growth, which major market players seek as an advantage and gain profit margins. Some of the major players are as follows:
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