Over time, the complexities associated with drug discovery have increased, especially in case of large molecule drugs, which are inherently more complex than conventional small molecules. As a result, an increase in the overall research and development (R&D) expenditure in the pharmaceutical / biotechnology sector has been witnessed. In addition to the complexities involved, the drug discovery process is extremely demanding, both in terms of capital expenses and time.
What is the current market landscape of in silico service providers?
Around 40% of the companies claim to specialize in antibodies, proteins and peptides across different steps of drug discovery. Within the antibodies segment, nearly 60% of in silico service offerings are focused on the discovery of monoclonal antibodies. This is followed by companies providing services for antibody fragments (43%), bispecific antibodies (34%) and polyclonal antibodies (26%).
What are the novel computational techniques for the overall drug discovery process?
The integration of novel computational techniques, such as artificial intelligence and cloud-based platforms, with in silico approaches is likely to revolutionize the overall drug discovery process.
What is the likely cost saving opportunity associated with the use of in silico tools?
In silico drug discovery approaches have been estimated to save nearly 35% of the total cost involved in developing a new drug, resulting in growing demand for more efficient drug discovery services for large molecules. By 2030, we anticipate net, annual cost savings of over USD 23 billion to be brought about by the adoption of in silico tools in large molecule drug discovery processes. The computation approach also enables researchers to expedite the overall process, thereby, saving a significant amount of time, as well.
What are the popular business strategies being used by in silico drug discovery service providers?
Computational technologies have evolved significantly in the past few years. However, one of the key challenges faced by in silico drug discovery service providers is the lack of clarity on which business model should be adopted in order to maintain an edge in this highly competitive industry. In order to achieve success, it is highly important for service providers to choose a model / strategy (based on their current capabilities) that is not only beneficial for their business, but also provides various advantages to their partners (pharmaceutical companies / academic players). For instance, our proprietary analysis indicated that most of the players engaged in the in silico drug discovery services market are challenger firms. We believe that these players should continue to offer customized services to the clients and expand their services offerings for novel biologic classes.
Likely Growth of the In Silico Drug Discovery Services Market
North America and Europe are anticipated to capture over 75% of the market share by 2030. Within North America, US is anticipated to hold the 90% of the market share. It is worth mentioning that the market in Asia-Pacific region is anticipated to grow at a relatively faster rate (16.1%).
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