Booming Demand: Global Virtual Screening Service Market Surges as Drug Discovery Goes Digital with Profacgen, CD ComputaBio, Creative Biolabs

Published October 17, 2023

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The Virtual Screening Service market is a dynamic and rapidly evolving sector within the pharmaceutical and biotechnology industries. It plays a pivotal role in drug discovery and development, offering a cost-effective and time-efficient approach to identify potential drug candidates. Virtual screening involves the use of computational tools and algorithms to predict the binding affinity of molecules to specific drug targets, thereby reducing the need for extensive laboratory testing. This technology is poised to revolutionize the drug discovery process by accelerating the identification of promising compounds, thus reducing the time and resources required for new drug development.

The Global Virtual Screening Service Market is expected to grow at a CAGR of 16.9% from 2023 to 2030.

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Scope Of Virtual Screening Service Market: The Virtual Screening Service market’s scope is expanding as the pharmaceutical and biotechnology industries increasingly adopt this innovative approach to drug discovery. Market players offer a range of services, including ligand-based and structure-based virtual screening, molecular modeling, and in silico ADME/Tox (Absorption, Distribution, Metabolism, Excretion/Toxicity) predictions. These services are in high demand, not only for small molecule drug discovery but also in the field of biologics, where they are used for the design of protein-based therapeutics. The market’s scope extends to academia, government research institutes, and contract research organizations (CROs) that provide Virtual Screening Services to various industry players.

Most Prominent Players in the Market: Profacgen, CD ComputaBio, Creative Biolabs, BOC Sciences, Jubilant Biosys, MedChemExpress (MCE), HitGen, TargetMol Chemicals, WuXi AppTec, LeadBuilder – Domainex, CSNpharm, ChemNavigator, CKTTDB, Molinspiration, Molsoft, Southwest Research Institute

Global Virtual Screening Service Market Split by Type and Application:

Virtual Screening Service Market on the basis of Types:
Structure-based Virtual Screening (SBVS)
Ligand-based Virtual Screening (LBVS)

Virtual Screening Service Market Segmented into Application:
Academic Research

Regional Analysis: The Virtual Screening Service market exhibits a global presence, with significant activity in regions such as North America, Europe, Asia-Pacific, and Latin America. North America, particularly the United States, holds a dominant position due to its concentration of pharmaceutical and biotechnology companies. Europe follows closely, with countries like the United Kingdom, Germany, and France being key contributors. The Asia-Pacific region, including countries like India and China, is also witnessing substantial growth, owing to the increasing outsourcing of drug discovery activities to CROs in the region. Latin America is emerging as a potential market, driven by investments in research and development.

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Virtual Screening Service Market Challenges and Risks: Despite its promising growth, the Virtual Screening Service market faces several challenges and risks. One major challenge is the accuracy of computational models used in virtual screening, as inaccurate predictions can lead to costly failures in drug development. Data privacy and security concerns are also significant, particularly when dealing with sensitive information related to drug candidates. The market is also sensitive to fluctuations in pharmaceutical and biotech industry budgets, as well as regulatory changes that may impact the demand for Virtual Screening Services. Additionally, competition among service providers is intensifying, which may lead to pricing pressures and the need for continuous innovation.

Virtual Screening Service Market Research Methodology: Market research in the Virtual Screening Service sector typically involves a combination of primary and secondary research methods. Primary research includes interviews and surveys with key industry participants, such as pharmaceutical and biotech companies, CROs, and academic researchers. This approach provides insights into market trends, customer needs, and emerging opportunities. Secondary research involves the analysis of existing data, reports, and publications related to the virtual screening market. It encompasses data from industry associations, government agencies, and market intelligence firms. The synthesis of both primary and secondary data is critical for a comprehensive understanding of the market’s dynamics, including growth drivers, challenges, and emerging trends.

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Major Points from Table of Contents:
1. Virtual Screening Service Market Overview
2. Market Competition by Manufacturers
3. Production by Region
4. Global Virtual Screening Service Consumption by Region
5. Segment by Type
6. Segment by Application
7. Key Companies Profiled
8. Virtual Screening Service Cost Analysis
9. Marketing Channel, Distributors and Customers
10. Market Dynamics
11. Production and Supply Forecast
12. Consumption and Demand Forecast
13. Forecast by Type and by Application (2023-2030)
14. Research Finding and Conclusion
15. Methodology and Data Source

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