San Francisco, California (PRWEB) July 14, 2014
The global market for computational biology is expected to reach USD 4,285.1 million by 2020 growing at a CAGR of 21.1%, according to a new study by Grand View Research, Inc. Steady increase in the usage & application of computational biology for bioinformatics R&D programs designed for sequencing genomes to better understand biological systems and increasing number of clinical studies in pharmacogenomics and pharmacokinetics for novel drug discovery studies are expected to drive computational biology demand over the next six years.
Computational genomics for cellular and biological simulation applications dominated the market in 2013, accounting for over 47% of global revenue. Key factors driving demand for these applications include the growth of drug designing, disease modeling and personalized medicine applications and the growing usage of computational biology for functional and structural genomics, epigenomics and metagenomics for the analysis of protein transcription, protein-protein interactions, gene sequencing and expression and 3-dimensional protein structure analysis.
The report “Computational Biology Market Analysis By Application (Cellular & Biological Simulation, Pharmacogenomics, Drug Discovery, Drug Development, Lead Optimization, Lead Discovery, Pharmacokinetics, Pharmacodynamics, Disease Modeling, Clinical Trials), By Service (In-house, Contract), By End User (Academics, Industry, Commercial) And Segment Forecasts To 2020” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/computational-biology-market.
Further key findings from the study suggest:
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For the purpose of this study, Grand View Research has segmented the computational biology market on the basis of applications, tools, services, end users and region:
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/.
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