The Middle East & Africadrug modelling softwaremarket is expected to reach US$ 487.02 million by 2027 from US$ 297.94 million in 2019. The market is estimated to grow at a CAGR of 6.6% during 2020–2027.The growth of thedrug modelling softwaremarketin theMiddle East & Africais primarily driven by theincreasing adoption of insilico modelling tools and rising economic burden indrug discovery. Additionally,growing adoption of artificial intelligence (AI) technology in drug discovery and increasing number of strategic activities performed by market players are likely to fuel the growth of themarketduring the forecast period.However, less adoption of drug modelling software in emerging countries is likely to restrain the growth of the market.
The companies engaged in the drug discovery and development are performingvarious business strategies to expedite discovery timelines and improve product success. The future of drug discovery relies on the collaboration activities, which can be performed among innovative biotech companies, academics, and pharma companies. For instance, in November 2018, Bristol-Myers Squibb Company and Compugen entered into a clinical trial collaboration to evaluate the safety and tolerability of Compugen’s COM701, an investigational anti-PVRIG antibody, in combination with Bristol-Myers Squibb’s programmed death-1 (PD-1) immune checkpoint inhibitor Opdivo (nivolumab), in patients with advanced solid tumors.Moreover, several players operatingin this marketare continuously expanding their capabilities to enhance their respective in silico-based service portfolio and maintain a competitive edge in the market. Many pharmaceutical companies are benefited by adopting these technologies.Thus, strategic activitiesand collaborations performed by market players and adoption of technological advancements by pharma and biotechcompanies would propel the growth of the market during the forecast period.
Countries in this region are sequencing complete COVID-19 genome. For instance, a new initiative to study and identify the genetic factors that cause symptoms of the COVID-19 disease among Saudis has been launched in Riyadh, as part of efforts to tackle the pandemic. This initiative aims tohelp in the development ofthe national genetic databases in cooperation with the healthcare sector. The initiative will alsodevelop solutions and strategic plans to protect the population of the Kingdom and those who areat the risk of contracting the disease.It will also increasethe efficiency of current treatment methods and the development of new drugs. Thus, the continuous research in the drug development ofCOVID-19 disease,by using drug discovery platforms, is expected to fuel the growth of the market.
Based on producttype, the software segmentaccounted for the largestshare of the market in 2019.The same segment is estimated to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to therise in demand for effective therapeutics and increase in drug discovery efforts of various biologics across a wide range of therapeutics. In addition, strategic activities, such as collaborations, product advancement, and product launch, areperformed by service providersto reduce the time required indrug discovery accelerating the growth of the market.
A major secondary source associated with the Middle East & Africadrugmodelling softwaremarket reportis theWorld Health Organization (WHO).