The structural biology and molecular modeling techniques market is anticipated to register a CAGR of nearly 10.4% during the forecast period.
- Certain factors that are driving the market growth include technological innovations and advancements and rising prevalence of chronic diseases.
- 3D modeling software is a powerful tool that helps many professionals create complex 3D graphics and visualize their work. In the field of structural biology and biochemistry, there are various software for molecular modeling and visualization. Some chemistry software are better in terms of drawing chemical reactions, and some others find better applications in the simulation of protein structures.
Key Market Trends
Drug Development Holds Significant Market Share in the Global Structural Biology and Molecular Modeling Techniques Market
The propelling factors for the growth of the drug discovery market include the rising prevalence of a wide range of diseases (such as cardiovascular and CNS-related disorders), rising healthcare expenditure, and upcoming patent expiration of blockbuster drugs.
The diverse range of diseases, primarily cardiovascular disease, infectious diseases, diabetes, and kidney-related complications, has a high prevalence, globally. Thus, the increasing prevalence of a diverse range of diseases among all age groups and its burden, globally, drives the demand for drug discovery and its market.
There has been an upsurge in the usage of advanced technologies, such as high throughput, bioinformatics, and combinatorial chemistry for better drug candidate identification.
North America Dominates the Global Structural Biology and Molecular Modeling Techniques Market
North America dominates the market and incurs the highest expenditure for global R&D. The United States accounted for the largest share in 2019. The North America segment is on a rise, due to various ongoing researches in biological sciences, considerable investments by various biotechnology companies, and the consistently increasing utilization of structural biology and molecular modeling techniques in the market. Owing to the ongoing research and outsourcing activities in the field of life science, Asia-Pacific also has lucrative opportunities for growth over the forecast period.
The global structural biology and molecular modeling techniques market is competitive and consists of a number of major players. Companies, like Acellera Ltd, Agile Molecule, Agilent Technologies Inc., Biomax Informatics AG, Bruker Daltonics Inc., Chemical Computing Group, Dassault Systèmes, Illumina, and ThermoFisher Scientific, hold the substantial market share in the market.
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