Growth Plus Reports studied and analyzed the global computer-aided drug discovery and development market was valued at US$ 3.18 billion in 2022 and is expected to register a revenue CAGR of 11.35% to reach US$ 8.32 billion by 2031.
What is computer-aided drug discovery and development?
CADD uses computer models and simulations to design and optimize drug molecules, predict their properties, and simulate their interactions with biological targets. This approach enables researchers to accelerate the drug discovery and development process, reduce costs, and increase the success rate of clinical trials.
What are the market drivers for computer-aided drug discovery and development?
The expanding need for more efficient and customized treatments for diseases like cancer, diabetes, and Alzheimer's that are complex is expected to drive market revenue growth. CADD is also used to find new pharmacological targets and adapt current medications for different uses.
The expanding use of artificial intelligence and machine learning in the development of therapeutics is also expected to drive market revenue share exponentially. With the use of these technologies, researchers may examine vast amounts of data and spot patterns that would be challenging or impossible to find using more conventional techniques.
Which are the top pharmaceutical companies and startups offering software solutions and consulting services?
Some of the key players in the global market include:
Despite the promising growth prospects, the CADD market also faces several challenges, including the rising need for more accurate and reliable computational models, the limited availability of high-quality data, and the high cost of software and hardware infrastructure. However, ongoing advancements in AI and machine learning, as well as the increasing use of cloud-based solutions, are expected to address some of these challenges and drive further growth in the market.