Artificial Intelligence and Big Data Revolutionize Drug Discovery: CADD Market to Grow at a CAGR of 11.1%

DUBLIN, Sept. 28, 2023 /PRNewswire/ — The “Computer-aided Drug Discovery Market: Global Market Size, Forecast, Insights, and Competitive Landscape” report has been added to  ResearchAndMarkets.com’s offering.

The global computer-aided drug discovery (CADD) market is expected to grow from $3.75 billion in 2023 to $7.81 billion by 2030, at a CAGR of 11.1% during the forecast period (2023-2030).

This report provides a holistic understanding of the CADD market, including market sizing, forecasts, drivers, challenges, and the competitive landscape.

Market Dynamics:

Drivers

  • Growing Prevalence of Chronic Diseases: The increasing incidence of chronic diseases is boosting the demand for advanced drug discovery methods, driving the growth of the CADD market.
  • Rising Adoption of Artificial Intelligence (AI) and Big Data: The adoption of AI and big data in drug discovery processes is streamlining research efforts and is expected to fuel market expansion.

Challenges

  • Lack of Skilled Labor: The shortage of skilled professionals proficient in CADD tools could hinder market growth.
  • Lower Product Penetration in Emerging Economies: Limited access to advanced technologies and economic constraints may slow down CADD adoption in emerging economies.

Market Segmentation:

By Type

  • Drug Design: This segment includes ligand-based drug design and sequence-based approaches.

By Therapeutic Area

  • Neurology, Oncology, Cardiovascular Disease, Respiratory Disease, Diabetes, Others: CADD techniques find applications across various therapeutic areas, with significant growth potential in neurology, oncology, and cardiovascular disease drug discovery.

By End User

  • Biotechnology Companies, Pharmaceutical Companies, Research Laboratories: The CADD market serves biotechnology and pharmaceutical firms, as well as research laboratories engaged in drug discovery efforts.

By Region

  • Europe, North America, Asia Pacific, Latin America, Middle East & Africa: The market spans major regions, with North America and Europe being key markets, and Asia Pacific expected to witness substantial growth in CADD adoption.

Historical & Forecast Period:

  • Base Year: 2022
  • Historical Period: 2018-2022
  • Forecast Period: 2023-2030

Profiles of Key Companies:

The report offers detailed profiles of companies operating in the global computer-aided drug discovery market.

Companies Mentioned 

  • Albany Molecular Research Inc. (AMRI).
  • Aragen Life Sciences Pvt. Ltd.
  • Aris Pharmaceuticals Inc
  • AstraZeneca
  • Bayer AG
  • Bioduro-Sundia
  • BOCSCI Inc.
  • Charles River Laboratories
  • GVK Biosciences
  • Schrodinger Inc.

Key Attributes:

Report Attribute

Details

No. of Pages

137

Forecast Period

2023 – 2030

Estimated Market Value (USD) in 2023

$3.75 Billion

Forecasted Market Value (USD) by 2030

$7.81 Billion

Compound Annual Growth Rate

11.1 %

Regions Covered

Global

For more information about this report visit https://www.researchandmarkets.com/r/yl4px6

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SOURCE Research and Markets