Molecular Modelling Market Share

Molecular Modelling Market Share Analysis

The pharmaceutical and biotechnology sectors are at the forefront of technological advancements, driven by a relentless pursuit of scientific progress. However, the process of developing new drugs is fraught with complexity, high costs, lengthy timelines, and inherent risks. According to a 2019 article in the Journal of Health Economics, the Tufts Center for the Study of Drug Development estimates that bringing a new prescription medicine to market can cost drug makers a staggering USD 2.6 billion. Faced with these challenges, industry players are increasingly turning to outsourcing research and development to streamline the path to launching new products.

The Brookings Private Sector Global Health R&D Project, in 2017, reported a total expenditure of USD 159.9 billion on overall health research and development in developed and developing regions. Of this, pharmaceutical companies contributed USD 156.7 billion, with an additional USD 3.2 billion from venture capital. In developing regions, the total spent on global health research and development was USD 5.9 billion, with pharmaceutical firms contributing USD 5.6 billion and venture capital companies investing USD 225.8 million.

An emerging opportunity for the global molecular modeling market lies in the increasing demand for molecular modeling within pharmaceutical and biotechnological companies in developing countries, particularly in Asia-Pacific and many Middle Eastern and African countries. These equatorial regions face a significant burden of diseases such as Chagas, dengue, leprosy, and rabies. Molecular modeling applications are anticipated to play a pivotal role in disease control, expanding treatment outreach, aiding patient compliance with medical regimens, and raising awareness of epidemics. Some developing countries have initiated education programs and projects like the Janala Project in Bangladesh, ProjectABC in Nigeria, Tostan in Senegal, Yoza in South Africa, and BridgeIT in Tanzania. These initiatives focus on improving literacy, creating health awareness, and enhancing people's understanding of healthcare IT tools. The growing synergy between healthcare initiatives and molecular modeling presents a promising avenue for advancing global health outcomes.