Infinium Global Research Computational Biology Market | Page 3

Computational Biology Market: Trends and Forecasts up to 2024
R&D in this field are also boosting the growth of computational biology market. In
addition, advantages such as reducing risks involved in human clinical trials for
testing drugs during their development phase, offered by computational biology to
also augment growth in this market. Extensive use of this technology in a large
number of applications in academics, industrial and commercial sectors are further
fuelling the growth of this market. On the flip side lack of properly trained
professionals is hampering the growth of computational biology market.
Among the geography, North America has emerged as the largest market for
computational biology market followed by Europe and the Asia Pacific. In North
America region, factors such as growing investments in the R&D of novel drugs and
disease modeling and growing technological advancements in biological
computations is driving the growth of this market. Factors boosting the growth of
computational biology market in the Asia Pacific region is due to increased
expenditure in research works in pharmacogenomics and pharmacokinetics in
clinical studies for newer drugs.
Segment Covered
The report on global computational biology market covers segments such as,
applications, services and end - user. On the basis of applications the global
computational biology market is categorized into human body simulation software,
preclinical drug development, cellular & biological simulation, clinical trials and
drug discovery and disease modelling. On the basis of services the global
computational biology market is categorized into in- house and contract. On the
basis of end - user the global computational biology market is categorized into
academics and commercial.
Geographic Coverage
The countries covered in the North America region include the U.S., Canada, and
Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and
among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are
included in the European region. The U.S. drives the growth in the North America
region as it is the largest market in the region. The Asia-pacific region offers a
substantial potential for the market growth owing to rapid growth in markets such
as India and China. The APAC region is projected to experience a growth at a CAGR
of x.x% over the period of 2018-2024.
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