Molecular Modeling Market
Number of pages: 100 | Report Format: PDF | Published date: April 05, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 219.90 million |
|
Revenue Forecast in 2031 |
US$ 701.6 million |
|
CAGR |
13.50% |
|
Base Year For Estimation |
2022 |
|
Forecast Period |
2023-2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Products, Application, End User, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global molecular modeling market was valued at US$ 219.90 million in 2022 and is expected to register a revenue CAGR of 13.50% to reach US$ 701.6 million by 2031.
Molecular Modeling Market Fundamentals
The increasing prevalence of chronic diseases is fueling the growth of the market. Many government bodies worldw’=ide are also investing heavily in research and development. This allows them to support large corporate projects devoted to developing a new generation of more powerful and effective drugs with fewer side effects.
Molecular modeling offers a strong set of tools for converting fundamental scientific concepts, principally from quantum mechanics and statistical mechanics, into high-resolution insight and biomolecule structure-function interactions.
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Molecular Modeling Market Dynamics
The increasing prevalence of chronic illnesses is expected to stimulate the development of increasingly advanced and effective treatments. In such cases, the molecular modeling market is expected to grow during the forecast period. According to WHO data published in 2021, cancer is the second largest cause of death worldwide. It is responsible for 10 million deaths per year. Moreover, cancer-causing illnesses such as hepatitis and human papillomavirus (HPV) account for over one-third of cancer in low- and lower-middle-income countries. The increased prevalence of chronic illnesses and the additional advantage of drug research in offering lower-cost treatments are moving the molecular modeling business ahead.
Molecular modeling is a strong drug design approach. Discovering novel medications with therapeutic uses in the pharmaceutical sector is critical. Experimental and computational strategies are complementary approaches in drug design and discovery. This molecular modeling is a safe and simple method for studying, analyzing, explaining, and discovering molecular features in three dimensions. 3D modeling software, for example, is a powerful tool that many professionals use to produce complicated 3D images and showcase their work. Molecular modeling is used in drug design to anticipate the structure of the intermolecular complex generated between two or more constituent molecules. Molecular modeling approaches analyze molecular systems ranging from huge biological molecules to tiny chemical systems in computational chemistry, computational biology, and material science. The rising demand for molecular modeling in pharmaceutical and biotechnological firms in developing nations such as Asia-Pacific and numerous Middle Eastern & African countries is one of the major prospects for the global molecular modeling market. Many people in these underdeveloped nations suffer from Chagas disease, dengue fever, leprosy, and rabies. Molecular modeling applications would aid in disease control by broadening the reach of medicines, assisting patients in adhering to medical regimens, and boosting awareness of epidemics.
The cost of most molecular modeling software may need professional analysis to determine its possible return on investment. The open-source software may not meet the particular criteria of pharmaceutical and biotechnology businesses during the drug development process. It emphasizes the necessity to purchase particularly specialized software, which may be more expensive and raise the ultimate medicine price. Several businesses, small-scale organizations, and corporations with little resources and available cash are adopting molecular modeling to improve their processes. As most software is expensive, many businesses and organizations do not use it daily. The high cost of molecular modeling software and services is often considered a disadvantage. The high cost of molecular modeling software and services is consequently regarded as a barrier to the market's expansion.
Molecular Modeling Market Ecosystem
Global molecular modeling has been analyzed from four perspectives: products, applications, end-user, and regions.
Molecular Modeling Market by Products
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The global molecular modeling market is segmented based on products into software and services.
The software segment registers for a prominent revenue share in the global market and is expected to show a substantial revenue share during the forecast period from 2023 to 2031.
Many professionals use 3D modeling software to produce detailed 3D images and visualize their work. There is a variety of molecular modeling software available in the discipline of chemistry. Some chemistry software excels at drawing chemical processes, while others excel at simulating protein structures. There is also software for molecular modeling and visualization.
Molecular modeling software is highly used for enhanced visualization and understanding of the molecules, also playing an important role in drug development. Avogadro, Chime, Swiss-PdbViewer, Mage, Surflex-Dock, AutoDock, BIOVIA Draw, and others are commonly used molecular modeling software. For instance, Avogadro is a program that allows researchers to load chemical data and produce numerous computational chemistry packages. Additionally, it is employed in various sectors of scientific activity, such as computational chemistry, molecular modeling, bioinformatics, and materials science. One of the primary benefits of this program is that it provides flexible, high-quality rendering and powerful molecular editing tools.
The services segment is also growing constantly and is expected to grow steadily during the projected timeframe. All molecular modeling services include protein structure prediction and analysis, homology modeling, molecular docking, molecular dynamics simulations, and quantitative structure-activity relationship (QSAR) analysis. Only a few organizations provide molecular modeling services, creating a large opportunity for new enterprises to enter the molecular modeling sector.
Molecular Modeling Market by Application
Based on the application, the global molecular modeling market can be further segmented into Drug Development, Drug Discovery, and Others.
Drug discovery is expected to grow at a profitable revenue CAGR during the forecast period. This remarkable revenue growth can be linked to the advantages of molecular modeling in drug development. The advantages enable researchers and structural biologists to detect important gaps that impede drug development, resulting in a lower drug attrition rate. The expected inclusion of structural biology and molecular modeling approaches in pharmacogenetics and pharmacogenomics will contribute to expanding the drug discovery segment. Moreover, one of the main growth factors expected to drive the market revenue is the high clinical urgency to create medications for use in diseases such as pregnancy, where many treatments cannot be provided. Moreover, a rising number of structural prediction models to study physiological and biochemical changes are anticipated to provide a high-potential growth platform to the market.
Molecular Modeling Market by End User
Based on the end user, the global molecular modeling market is segmented into pharmaceutical & biotechnology companies, research centers & academic institutes, and others.
Pharmaceuticals & biotechnology companies dominate the global market with the largest revenue share. Rising R&D initiatives in drug discovery and development are driving the increased use of molecular modeling by the pharmaceutical and biotechnology segment. This will likely drive market revenue expansion in this area.
Molecular Modeling Market by Region
The global molecular modeling market can be further segmented based on the region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America accounts for the largest revenue share in the molecular modeling market, and this trend is expected to continue during the forecast period. This is due to the presence of significant key market players and the growth in the frequency of chronic and rare diseases in the United States. Additionally, high disposable income has propelled the development of the healthcare industry owing to the affordability of investing in highly sophisticated medicine that matches the specific medical needs of the people, which further propels market expansion in the region.
Similarly, Asia Pacific is expected to have the highest CAGR during the forecast period. This is owing to an increase in the number of significant firms producing molecular modeling products, an increase in the prevalence of cancer and other chronic illnesses, and aging population growth in countries such as India, China, and Japan. Furthermore, an increase in the number of government programs to enhance the quality of pharmaceuticals and/or treatments for various ailments supports market growth in the field.
Competitive Landscape of the Global Molecular Modeling Market
The prominent players operating in the global molecular modeling market are:
Strategic Development in Molecular Modeling Market
The market size of the global molecular modeling is US$ 219.90 million in 2022 and is expected to grow at a revenue CAGR of 13.50%
The high prevalence of chronic and rare diseases with a rapidly growing geriatric population are some of the major factors driving the market revenue growth.
Asia Pacific is expected to be the fastest-growing region in the molecular modeling market revenue.
Stringent regulatory policies and high costs for the procedure can create some hurdles in market revenue growth.
Some key market players in the global molecular modeling market are Advanced Chemistry Development, Certara, L.P., Chemical Computing Group ULC., Dassault Systèmes, and other notable players.
Insights on financial performance are subject to the availability of information in the public domain.