The market is estimated to grow at a CAGR of 8. 8% during 2020-2027. The drug modelling software market is growing primarily due to increasing adoption of in-silico modelling tools in drug discovery and rising economic burden of drug discovery in Asia Pacific.
New York, Nov. 03, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Asia Pacific Drug Modelling Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By roduct Type ; Application, and Country" - https://www.reportlinker.com/p05978822/?utm_source=GNW
Additionally, growing adoption of artificial intelligence in drug discovery and strategic activities by market players are likely to fuel the growth of the drug modelling software market during the forecast period.
However, factors such as less adoption in emerging countries are likely to restrain the growth of the market.
Drug modelling has become an essential tool in the drug design process.Software-based drug discovery and development methods are playing a key role in the development of novel drugs.
Software-based methods such as molecular modelling, structure-based drug design, structure-based virtual screening, ligand interaction, and molecular dynamics, are considered to be a powerful tool for investigation of pharmacokinetic and pharmacodynamic properties of drugs.These methods are fast and accurate.
They provide valuable insights of experimental findings and mechanisms of action. In addition, appropriate implementation of these techniques may help in reducing cost of drug designing and development.
The companies engaged in drug discovery and development are adopting various business strategies to accelerate discovery timelines and improve product success.The future of drug discovery relies on the collaboration among innovative biotech companies, academics, and pharma.
Moreover, several players involved in this space are continuously expanding their capabilities to enhance their respective in-silico-based service portfolio and maintain a competitive edge in the industry.A lot of pharmaceutical companies have been benefited by adopting these technologies, which, in turn, is expected to propel the growth of the drug modelling software market during the forecast period.
For instance, in September 2019, Atomwise Inc., a provider of AI services for drug discovery, collaborated with Hansoh Pharmaceutical Group Company Limited, China, to design and discover potential drug candidates for up to eleven undisclosed target proteins in multiple therapeutic areas. Additionally, in December 2015, Biovista announced that it had entered into a drug repositioning collaboration with Astellas Pharma Inc. The collaboration is focused on identifying new indications for a number of undisclosed Astellas compounds using Biovista’s Clinical Outcomes Search Space (COSS) technology. Further, in Jan, 2016 NuMedii, Inc. announced the formation of a discovery collaboration with Astellas Pharma Inc. to identify new indications for a number of undisclosed Astellas compounds using NuMedii’s predictive big data intelligence technology.
The 2019 novel coronavirus (2019-nCoV), officially named as COVID-19 by the WHO, has spread to more than 170 countries, prompting the WHO to declare the disease as a global pandemic.As research details emerge, the data pool grows exponentially, beyond the capacity of human intelligence alone to handle.
Artificial Intelligence (AI) is specialised in detecting trends from big data, and this section will elucidate how it has become one of the ace cards of humanity in coping with this crisis.Pune-based drug discovery research firm Novalead will study the efficacy of an anti-parasitic drug in the recovery of moderately ill patients with Covid-19.
Owing to rise in such outbreaks, the need for new technologically advanced products nationwide increases, which, in turn, is positively impacting the market.
In 2019, the software segment based on product type accounted for the highest share of the market.The same segment is estimated to grow at the highest CAGR during the forecast period.
Growth of this segment can be attributed to rise in demand for effective therapeutics and increase in drug discovery efforts of various biologics across a wide range of therapeutics. In addition, strategic activities by service providers, such as collaborations, product advancement, and product launch, in order to accelerate drug discovery timeline are further accelerating the growth of the market.
A few of the major secondary sources associated with the Asia Pacific drug modelling software market report include India Brand Equity Foundation (IBEF), World Health Organization (WHO), and Korea Pharmaceutical and Bio-Pharma Manufacturers Association (KPBMA).
Read the full report: https://www.reportlinker.com/p05978822/?utm_source=GNW
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