The global computational biology market size is expected to reach USD 13.6 billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 21.3% during the forecast period. Rise in clinical studies in pharmacokinetics and pharmacogenomics for novel drug delivery and increase in the application of computational biology for bioinformatics R&D programs for the population based sequencing studies are fueling the market growth.
Rising use of computational tools in genomics, epi-genomics, proteomics, and meta-genomics to understand 3D protein structural analysis, protein-protein interactions, and gene sequencing and expression studies coupled with increasing research activities in drug designing and disease modeling is expected to drive the growth. However, lack of skilled resources to operate computational tools is expected to restrain the growth of the computational biology market during the forecast period.
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Many pharmaceutical companies are seeking funding from angel investors. For instance, in February 2019, StemoniX Inc., the U.S. based provider of product and services for drug discovery and development, received funding of USD 14.40 million from a group of investors. Brightstone Venture Capital was the major financer and was later joined by Crescent Ridge Partners, Alumni Ventures Group, and Mayo Clinic. Similarly, in the same month, U.S. based Buffalo Niagara Medical Campus received funding of USD 5.0 million to speed up the discovery of new drugs. With this finding, the research institute is planning to procure and install drug discovery research instruments and other drug discovery platforms.
Further key findings from the report suggest:
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Grand View Research has segmented the global computational biology market based on application, service, end use, and region:
Computational Biology Application Outlook (Revenue, USD Million 2015 – 2026)
Computational Biology Services Outlook (Revenue, USD Million 2015 – 2026)
Computational Biology End-use Outlook (Revenue, USD Million 2015 – 2026)
Computational Biology Regional Outlook (Revenue, USD Million 2015 – 2026)
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Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research Guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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