According to Nova One Advisor, the global computational biology market size was valued at USD 6.10 billion in 2023 and is projected to reach USD 21.04 billion by 2033, registering a CAGR of 13.18% from 2024 to 2033.
According to Nova One Advisor, the global computational biology market size was valued at USD 6.10 billion in 2023 and is projected to reach USD 21.04 billion by 2033, registering a CAGR of 13.18% from 2024 to 2033.
In recent years, the field of computational biology has witnessed an unprecedented surge in growth, driven by a confluence of factors ranging from technological breakthroughs to evolving healthcare needs. With each passing day, advancements in genomics and bioinformatics are pushing the boundaries of what’s possible in deciphering the complexities of life. This, coupled with a growing demand for personalized medicine, streamlined drug discovery and development processes, and the imperative for efficient data analysis in life sciences, has propelled the computational biology market into a phase of rapid expansion.
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Key Takeaways:
- North America held the largest share of 49.73% of the global market in 2023.
- The Asia Pacific market is anticipated to expand at a significant CAGR of 15.65% from 2024 to 2033.
- Based on service, software platforms segment accounted for the largest market share of 42.15% in 2023 and is expected to expand at the fastest CAGR from 2024 to 2033.
- The infrastructure & hardware segment is expected to grow at a significant CAGR of 12.23% from 2024 to 2033.
- Based on application, clinical trials held the maximum market share of 27.54% in 2023.
- The computational genomics segment is expected to expand at the fastest CAGR of 15.99% from 2024 to 2033.
- The industrial segment accounted for the largest market share of 63.19% in 2023.
- Academic & research is expected to grow at the fastest CAGR from 2024 to 2033.
When to Use Computational Biology ?
Computational biology can be used in support of or instead of lab procedures, helping organizations save money and sometimes generate more accurate results. It is most effective when dealing with smaller, specific data sets, such as projects that involve conducting population genetics and protein analysis or understanding specific pathways within a larger genome.
It is also used to answer more general biological questions rather than pinpointing highly specific information.
“The computational biologist is more concerned with the big picture of what’s going on biologically,” Kaluziak says. As such, many take on more academic roles than laboratory- or field-based careers.
Scientists choosing to study significantly larger data sets or those that require multiple-server networks should instead turn to bioinformatics, which offers resources better suited to organizing and understanding big data.
Why Computational Biology ?
- Understanding Complexity: Biological systems are incredibly complex, often involving interactions between numerous genes, proteins, and other molecules. Computational methods can help unravel this complexity by simulating these interactions and analyzing large datasets to uncover underlying patterns.
- Drug Discovery and Development: Computational biology plays a vital role in drug discovery and development processes. By simulating the interactions between drugs and biological targets, researchers can identify potential drug candidates more efficiently, leading to faster development of new therapies for various diseases.
- Personalized Medicine: With the advancement of technologies like genomics and bioinformatics, personalized medicine has become a reality. Computational biology enables the analysis of individual genetic profiles to tailor treatments and interventions to specific patients, maximizing efficacy and minimizing side effects.
- Biotechnology and Synthetic Biology: Computational methods are indispensable in biotechnology and synthetic biology for designing novel biological systems, optimizing metabolic pathways, and engineering organisms for various applications, such as biofuel production, bioremediation, and drug synthesis.
- Systems Biology: Computational approaches are fundamental to systems biology, which aims to understand biological systems as integrated networks of genes, proteins, and other molecules. By building mathematical models of these systems, researchers can gain insights into how they function as a whole and how perturbations affect their behavior.
- Disease Modeling and Prediction: Computational biology facilitates the modeling and prediction of disease progression, allowing researchers to better understand the underlying mechanisms of diseases and develop strategies for early detection and intervention.
- Big Data Analysis: With the advent of high-throughput technologies like next-generation sequencing and mass spectrometry, biological datasets have grown exponentially in size and complexity. Computational methods are essential for analyzing and extracting meaningful insights from these large-scale datasets.
Computational Biology Market Growth
The growing investments in research & development within the fields of cancer research, increasing demand for personalized medicines, and rising drug discovery & development are anticipated to contribute to the growth of the market. Moreover, the increasing advancements in the biotechnology industry and the adoption of artificial intelligence technology will further drive the market growth over the forecast period.
The growing adoption of advanced technology in gene analysis is propelling the growth of the market for computational biology. For instance, in January 2023, Qiagen Digital Insights (QDI) introduced an enhanced product designed for ultra-rapid next-generation sequencing (NGS) analysis. This innovative solution enables the processing of the entire genome within just 25 minutes, for USD 1 in cloud computing expenses. This is anticipated to empower researchers to efficiently analyze and interpret data from various sequencing approaches, including whole genome sequencing (WGS), whole exome sequencing (WES), and large panel sequencing. Hence, it is anticipated to impel market growth over the forecast period.
Furthermore, according to the article published by Cryptopolitan in September 2023, in a major advance development, scientists at Pohang University of Science and Technology (POSTECH) have shared their discoveries in the EBioMedicine journal, that they have used machine learning to estimate the chances of a new drug getting approved even before the clinical trials. This is expected to help in understanding the rate of drug failure at the time of clinical trials. Thus, the rising advancements in technology are anticipated to fuel the growth of the market over the forecast period.
However, the complexity of the biological systems and the lack of skilled professionals in the field are anticipated to hinder the growth of the market. Biological systems are incredibly complex, and accurately modeling their behavior can be challenging and requires the presence of skilled and trained professionals. Many biological processes involve complicated networks and interactions, which further add to the complexity of analysis and make computational predictions less reliable in some cases.
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Service Insights
Based on service, software platforms segment accounted for the largest market share of 42.15% in 2023 and is expected to expand at the fastest CAGR from 2024 to 2033. Software platforms in computational biology typically encompass a wide range of tools and technologies, including bioinformatics software, data analysis platforms, modeling, and simulation software, etc. These tools are essential for the management and analysis of large volumes of biological data, such as genomics, proteomics, and structural biology data. Furthermore, increasing demand for personalized medicines and growing drug discovery & development are some of the major factors boosting the segment growth. For instance, in May 2023, Genialis, a company specializing in computational precision medicine, announced the launch of Genialis Expressions version 3.0. The software is designed to expedite the process of discovering translational and clinical biomarkers, shedding light on complicated biological mechanisms for novel disease treatment approaches. Thus, the rising demand for computational technology in personalized medicine and drug development is anticipated to fuel the market growth of the segment from 2024 to 2033.
The infrastructure & hardware segment is expected to grow at a significant CAGR of 12.23% from 2024 to 2033. Computational biology often requires access to high-performance computing resources to perform complex simulations and data analysis tasks. The demand for more powerful hardware infrastructure services to support these computations is expected to increase as computational biology research becomes better. Moreover, in February 2021, Rescale, a startup headquartered in California, that focuses on advancing scientific and engineering simulation through its software platform and hardware infrastructure, has secured USD 50 million in funding. Thus, the growing investments in various organizations are anticipated to boost the segment growth over the period.
Application Insights
Based on application, clinical trials held the maximum market share of 27.54% in 2023. This can be attributed to the surging demand for drug discovery & development, target identification & validation, and personalized medicines. Moreover, with the increasing availability of patient data, including genomics and electronic health records, computational biology is used to analyze and interpret these patients’ data for undertaking informed clinical trial decisions. In September 2023, OSE Immunotherapeutics SA announced a peer-reviewed study in the Annals of Oncology regarding the Phase 3 clinical trial known as Atalante-1. This trial evaluated the T-cell epitope tumor vaccine Tedopi as a monotherapy in individuals with advanced HLA-A2 positive or metastatic NSCLC, specifically in the third-line treatment setting for NSCLC cases showing secondary resistance to immune checkpoint inhibitors (ICI). Thus, these factors are anticipated to propel the growth of the segment over the forecast period.
The computational genomics segment is expected to expand at the fastest CAGR of 15.99% from 2024 to 2033. Computational genomics is a field that focuses on the analysis and interpretation of genomic data using computational methods and tools. The rising incidence of cancer has propelled the growth of innovative treatments, consequently driving the demand for computational genomics in oncology research. According to World Cancer Research Fund International, approximately 18.1 million cases of cancer were reported globally in 2020, with 9.3 million occurring in males and 8.8 million in females. Furthermore, in January 2023, the personalized cancer vaccine developed by Evaxion Biotech received fast-track designation (FTD) from the FDA in combination with Keytruda for individuals diagnosed with metastatic melanoma (MM). Hence, the segment is expected to grow exponentially over the forecast period.
End-use Insights
The industrial segment accounted for the largest market share of 63.19% in 2023. The expanding awareness of artificial methods in computational biology, which enhance the advanced visualization and analysis of biological structures, is a key driver for the growth of the industrial segment. With an increasing demand to gain deeper insights into the metabolic interactions of therapeutic substances within the pharmaceutical & biotechnology sectors, companies are anticipated to increase the usage of advanced technologies like machine learning and artificial intelligence. Thereby, expected to accelerate the progress in drug research & development, helping in substantial innovations within the domain.
Academic & research is expected to grow at the fastest CAGR from 2024 to 2033. This can be attributed to the substantial need for computational software to enhance genome analysis within the rising research and development activities conducted in various research organizations. Furthermore, the increase in collaborative efforts and investments between public and private entities to launch new research institutes is expected to accelerate the expansion of this segment.
Regional Insights
North America held the largest share of 49.73% of the global market in 2023. The dominant market share is primarily due to the robust U.S. biotechnology and biopharmaceutical industry, increasing demand for computational biology in research & academic institutions for various drug discovery & development, and other factors. Moreover, the presence of major companies & organizations is anticipated to impel the adoption of advanced computational biology for various applications. In addition, significant investment in health technology is projected to drive the need to improve patient outcomes, hence, propelling the growth of the market. Thus, continuous advancements in computational biology coupled with affordable adoption of artificial intelligence, and growing investments solidify the U.S. as the world’s most lucrative market.
The Asia Pacific market is anticipated to expand at a significant CAGR of 15.65% from 2024 to 2033. This trend is mainly due to rapid growth in the region’s biopharmaceutical sectors, including China and India, which leads to rising investments in healthcare IT & life science sectors. Furthermore, the rising emergence of startups focusing on bioinformatics is anticipated to accelerate the growth of the market in the region. For instance, in April 2022, an India-based AI startup Algorithmic Biologics, was planning to build a molecular computing algorithm to collect and analyze biological data which includes RNA, DNA, and various other proteins. In addition, rising government investments in better healthcare IT are propelling market growth. Hence, such government initiatives, growing R&D services, and emerging startups are anticipated to increase the adoption of computational biology in the Asia Pacific region.
Key Companies & Market Share Insights
Key market players are involved in extensive R&D for developing cost-efficient and technologically advanced products. Several strategies, such as new product launches and mergers & acquisitions are being undertaken by these players to expand their market presence which is expected to create significant growth opportunities over the forecast period. For instance, in February 2023, Accenture invested in Ocean Genomics, which is a U.S.-based technology & AI company that focuses on advanced computational platforms. This investment is expected to assist biotechnology companies in the discovery & development of personalized medicines. Such strategic initiatives by organizations are anticipated to propel the growth of the market over the forecast period. Some of the key players operating in the global computational biology market include:
- DNAnexus, Inc.
- Illumina, Inc.
- Thermo Fisher Scientific, Inc.
- Schrodinger, Inc.
- Compugen
- Aganitha AI Inc.
- Genedata AG
- QIAGEN
- Simulations Plus, Inc.
- Fios Genomics
Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Computational Biology market.
By Service
- Databases
- Infrastructure & Hardware
- Software Platform
By Application
- Drug Discovery & Disease Modelling
- Target Identification
- Target Validation
- Lead Discovery
- Lead optimization
- Preclinical Drug Development
- Pharmacokinetics
- Pharmacodynamics
- Clinical Trial
- Phase I
- Phase II
- Phase III
- Phase IV
- Computational Genomics
- Computational Proteomics
- Others
By End-use
- Academic & Research
- Industrial
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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