The Drug Designing Tools Market is anticipated to expand its roots at a steady CAGR of 8.7% between 2023 and 2033. The market is expected to have a market share of US$ 7.1 billion by 2033 while it is likely to be valued at US$ 3.1 billion in 2023
- The expanding pharmaceutical industry, the advent of healthcare digitization, and high capital investments from governments across the region are propelling the market growth. Furthermore, advanced drug design projects are flourishing the demand for new tools and bioinformatics.
- The advent of viruses like Covid-19 and others has put these governments on alert to expand their drug research and development facilities for high production of effective drugs. Alongside this, the integration of computer-based drug-designing software with artificial intelligence and machine learning has been effective.
- The medical emergencies in different regions along with the sales of tools like chemical modeling, computer-aided drug design, and virtual screening have flourished.
- The application of bioinformatics has increased in drug designing procedures as it involves procedures like data mining, protein structure prediction, and effect forecast.
- Technological advancements have fastened the drug production cycle, increasing overall drug production along with consumption.
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- The United States market leads the drug designing tools market in terms of market share in North America. North America region held a market share of 37.0% in 2022. The growth in this region is attributed to the huge healthcare research budget along with the high number of private pharmaceutical brands advancing their technological gears. However, the United States itself secured a share of 17.3% in 2022
- The United Kingdom’s drug designing tools market is another significant market in the Europe region. European region captured a market share of 29.2% in 2022. The growth is attributed to the technological integration of AI and ML.
- China’s drug designing tools market is anticipated to thrive at a healthy CAGR of 10.10% during the forecast period. Asia-pacific region also recorded a notable market share in 2022. The growth is attributed to a high population and frequent medical emergencies in the country
- The virtual screening tools lead the solution-type segment as it held a market share of 36.2% in 2022. The growth is attributed to vivid monitoring and high dependability.
- Based on the end-user type, the pharmaceutical companies segment leads as it recorded a significant global share of 34.7% in 2022. The growth is attributed to the high consumption and extended research facilities.
The key vendors work on expanding their palm plantation along with the launch of different grades of palm oil. Key competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market Developments:
- Schrödinger LLC has introduced its platform that holds high capabilities such as fast lead discovery accurate property prediction, large-scale molecule evaluation, and large-scale molecule exploration.
- Agilent Technologies has launched its platforms such as metabolism in early drug discovery and preclinical research.
- Agilent Technologies
- Schrödinger LLC
- Biovia Corporation
- BioSolveIT GmbH
- Albany Molecular Research Inc.
- OpenEye Scientific Software Inc.
- XtalPi Inc.
Drug Designing Tools Market: Segmentation
- Multi Databases
- Virtual Screening Tools
- Structure Designing/ Building Tools
- Predictive Analytics
- Model Building Tools
- Chemical Screening
- Molecular Modeling/ Homology Modeling
- Target Prediction
- Binding Site Prediction
- Energy Minimization
By End User:
- Pharmaceutical Companies
- Biotechnology Companies
- Academic and Research Institutes
- Contract Research Organizations
Key Regions Covered:
- North America
- Latin America
- Asia Pacific Excluding Japan
- Middle East Asia