Dublin, July 16, 2021 (GLOBE NEWSWIRE) -- The "Latin America Digital Biology Market Size, Share & Trends Analysis Report by Application (Drug Discovery & Disease Modelling), by Tools, by Services, by End-use, and Segment Forecasts, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The Latin America digital biology market size is expected to reach USD 768.9 million by 2027 and is projected to expand at a CAGR of 13.8%
Growing R&D costs and clinical trial failure rates have driven the demand for computational biology-based solutions.
As a result, digital biology is now being widely used by biotechnology and pharmaceutical companies as a cost-effective and statistical tool. The ability of this field to provide simulation models is also expected to help minimize the need for human trials, especially in cases of pediatric and orphan diseases and diseases involving pregnant women. The advent of artificial intelligence and cloud computing technologies have enhanced the utility of computational biology.
Efforts taken by international societies, such as SoIBio, to promote advancements in the computational biology field are expected to propel the market. SoIBio is a scientific society that promotes R&D in computational biology and bioinformatics in Ibero-America.
Furthermore, the introduction of bioinformatics networks to bridge the gap between healthcare and biological informatics services, such as LACBioNet, is expected to contribute to market growth.
Latin America Digital Biology Market Report Highlights
The cellular and biological simulation segment dominated the overall application market in terms of revenue in 2019, owing to the increase in usage of computational methods in structural and functional genomics and epigenomics for analysis of gene sequencing, protein interactions, and structural analysis.
The drug development and disease modeling segment is expected to experience an increase in revenue share over the next 6 years. Increasing clinical trial failure rates and growing demand for orphan drugs are some factors that can be attributed to the segment growth.
The databases segment dominated the overall tools market in terms of revenue share in 2019. High usage rates of well-known databases such as the DNA Database of Japan (DDBJ), EMBL Nucleotide Sequence Database, GenBank, and Institute for Genomic Research (TIGR) is one of the factors that can be attributed to the large share.
Furthermore, a rapid increase in the use of statistics and large amounts of data and the consequent rise in the need to store, retrieve, and analyze cost-efficiently is expected to drive the segment during the forecast period.
Software-based computational biology is identified as the most lucrative segment of this market. The probable introduction of cost-effective software models and the growing demand for simplified and accurate modeling and simulation tools are also a major factor contributing to the large revenue share.
The contract-based digital biology services market is expected to witness significant growth over the forecast period owing to the advantages of outsourcing, propelling the market penetration.
Increasing adoption of commercial genomics and its growing applications in medicine and biology is set to drive the industrial end-use segment with the fastest CAGR.
Brazil accounted for the largest revenue generation owing to favorable government funding policies are supporting R&D efforts in the market.
Launch of new products, collaborative developments, and regional expansion are some of the key strategic undertakings of the key players to sustain their market presence. For instance, in February 2020, Medidata entered into a research partnership with Project ALS. Through this collaboration, the company will offer AI tools to develop new treatment strategies for ALS disease.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Industry Outlook
3.1 Industry Pyramid Analysis
3.2 Market Segmentation & Scope
3.3 Market Trends & Outlook
3.4 Penetration and Growth Prospect Mapping, by Application, 2019
3.5 Regulatory Framework
3.6 Market Drivers Analysis
3.6.1 Availability of enhanced computational tools
3.6.2 Government funding & research
3.6.3 Rise in contract research services
3.7 Market Restraint Analysis
3.7.1 Shortage of skilled professionals
3.7.2 Lack of standardization
3.8 Market Challenge Analysis
3.8.1 Lack of reimbursement scenario
Chapter 4 Business Environment Analysis
4.1 SWOT Analysis; by Factor (Political & Legal, Economic and Technological)
4.2 Porter's Five Forces Analysis
4.3 Market Entry Strategies
4.4 Major Deals & Strategic Alliances Analysis
4.4.2 Joint venture
4.4.3 Partnership and collaboration
Chapter 5 Application Business Analysis
5.1 Latin America Digital Biology Market: Application Movement Analysis
5.2 Cellular & Biological Simulation
5.2.1 Latin America digital biology market estimates and forecasts for cellular & biological simulation, 2016 - 2027 (USD Million)
5.2.2 Computational Genomics
5.2.3 Computational Proteomics
5.2.5 Transcriptomics & metabolomics
5.3 Drug Discovery & Disease Modeling
5.3.1 Latin America digital biology market estimates and forecasts for drug discovery & disease modeling, 2016 - 2027 (USD Million)
5.3.2 Target identification
5.3.3 Target validation
5.3.4 Lead discovery
5.3.5 Lead optimization
5.4 Preclinical Drug Development
5.4.1 Latin America Digital Biology market estimates and forecasts for Preclinical drug development, 2016 - 2027 (USD Million)
5.5 Clinical Trials
5.5.2 Phase I
5.5.3 Phase II
5.5.4 Phase III
5.6 Human body simulation software
Chapter 6 Tools Movement Analysis
6.1 Latin America Digital Biology Market: Tools Movement Analysis
6.4 Software & Services
Chapter 7 Service Movement Analysis
7.1 Latin America Digital Biology Market: Service Movement Analysis
7.2 In - house Services
7.3 Contract Services
Chapter 8 End-use Movement Analysis
8.1 Latin America Digital Biology Market: End-use Movement Analysis
8.2 Academics & Research
Chapter 9 Regional Business Analysis
9.1 Latin America Digital Biology Market: Regional Movement Analysis
9.1.1 Latin America digital biology market estimates and forecast, 2016 - 2027 (USD Million)
Chapter 10 Company Profiles
Precigen (Intrexon Corporation)
Simulations Plus, Inc.
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