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In-Silico Drug Discovery Market

Focus on Product, Workflow, Technology, and End User - Analysis and Forecast, 2021-2031

 
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The global market is predicted to grow from $2,129.8 million in 2020 to $6,515.3 million in 2031 and is expected to grow with a CAGR of 10.52% during the forecast period 2021-2031.
The top market players are Aragen Life Sciences Pvt. Ltd., Curia Global, Inc., Certara, USA., Charles River, Chemical Computing Group ULC., Collaborative Drug Discovery Inc., Dassault Systemes, e-therapeutics plc., Evotec, Insilico Medicine, Ligand Pharmaceuticals Incorporated, Numerate, Inc., PerkinElmer Inc., Schrödinger, Inc., Selvita, Simulations Plus, Tracxn Technologies, WuXi AppTec.
Factors driving the growth of the in-silicon drug discovery market are rising emphasis on reduction in medical errors, technological advancements in the field of computational biology, integration of blockchain technology in interoperability, and rising adoption of cloud-based applications for drug discovery.
Some of the main challenges restricting the growth of the in-silicon drug discovery market are lack of high complexity testing centers, expensive in-silico drug discovery procedures and decline in the number of approved drugs, and high capital requirement hampering the expansion of global reach.
The potential opportunities that are likely to boost the growth of the in-silicon drug discovery market are massive scope for adoption of in-silico drug discovery in developing nations, adoption of artificial intelligence in in-silico drug discovery.
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