Molecular modeling includes a series of computational techniques for the creation, manipulation, and representation of various reactions and structures of molecules. Its applications include drug discovery and development but have since expanded to computational chemistry and materials science. Scientists are increasingly using molecular models for various simulations, which can greatly speed up the drug development process.
At present, molecular modeling & simulation software is widely applied in life science and materials science. Life sciences include all scientific fields that conduct research on biology (microorganisms, animals, plants, etc.), as well as consideration of related fields, such as bioethics. Drug discovery software is used to develop new drugs and test whether the newly created drugs will be effective in treating specific diseases. Drug discovery software can automate and utilize innovative technologies, thereby greatly reducing the tedious process of drug development, testing, and marketing.
Materials science is an interdisciplinary field related to the understanding and application of material properties. Molecular Modeling & Simulation Software allows scientists to explore the chemical space and predict molecular behavior with high accuracy. Applications in the life sciences sector currently account for the major share of the market, which has reached a value of $140.4 million and is expected to expand further by 2026.
Global Molecular Modeling & Simulation Software Market Status and Prospect Analysis
The market value of global molecular modeling & simulation software is $123.7 million in 2015 and increases to $195.2 million in 2019. By 2026, it can reach $431.9 million. Molecular modeling & simulation software is expected to grow at a CAGR of 12.96% from 2020 to 2026.
America is the largest revenue market for molecular modeling and simulation software, with a market share of 38.52% in 2015 and 38.75% in 2020, an increase of 0.23%. Europe ranks second in the world with a market share of 29.57% in 2020. The United States and many developed European countries are investing a lot of money in biotechnology due to the advantageous conditions of advanced economy and strong technology. Molecular modeling and simulation software market value is expected to reach $166.5 million and $124.6 million respectively, in 2026.
With the development of molecular biology, structural biology, computer science and information science, drug discovery is also entering a new era of revolutionary changes. Some developing countries such as China and India are also increasing their investment in biotechnology industry. In 2020, the molecular modeling and simulation software market value in the two countries is $16.7 million and $8.3 million respectively. It is expected to increase to $36.6 million and $17.9 million by 2026 and the growth rate will exceed some developed countries such as Europe and America.
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Molecular Modeling & Simulation Software Market Will Further Expand as the Times Develop and Technology Advances
At present, biotechnology has a wide range of application fields. The biopharmaceutical sector dominates the entire global biotechnology market demand. Driven by both policy and market, the biopharmaceutical industry is developing rapidly in many countries. Especially in the current epidemic period, the spread of viruses has caused a great threat to human life and health, which has increased the demand for pharmaceutical research and development. The application of molecular modeling and simulation software has become a major approach to drug discovery. Biotech companies are improving the efficiency of research and development and product launch in this way. The growth in investment in the biotechnology industry and the increased use of molecular modeling and simulation software will drive further growth across the industry. The market value of molecular modeling and simulation software in life sciences is expected to increase from $140.4 million in 2020 to $297.3 million by 2026.
With the rapid development of economy and technology, as well as the accelerated development of other emerging industries such as new energy, environmental protection, and high-end equipment manufacturing, every industry needs new materials to support these demands. However, much of the research on smart materials has not yet been put into commercial production due to high costs and complex processing procedures. In the future, research on smart materials will continue to advance as the technology matures. Molecular modeling and simulation software will play an important role in studying materials science. The market value of molecular modeling and simulation software in materials science is expected to increase from $64.7 million in 2020 to $134.7 million by 2026.
Molecular modeling and simulation software is still an emerging technology in many countries. The technology has not been widely promoted due to financial and technical reasons, which may limit the market expansion to some extent. The development strategy of companies in the molecular modeling and simulation software market should focus on the following two aspects. Firstly, they should focus on product development and innovation. Secondly, they should establish a good relationship with downstream customers and strive to gain notability by working with well-known pharmaceutical companies or material research institutes. And when facing different levels of customers, they should keep changing its market strategy so as to gain competitive advantage.
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