In-silico global drug discovery market 2021 and 2031

By 2031, the in-silico drug discovery market worldwide is expected to be valued at 6.5 billion U.S. dollars. As of 2021, the market was valued at just 2.4 billion U.S. dollars. The largest segment of the in-silico drug discovery market is software as a service (SaaS). 'In-silico' in general means that testing is done by computer simulation, as in contrast to 'in vivo' or 'in vitro'. In-silico testing was used, for example, in the search for existing drugs which could potentially be used as therapy or cure for COVID-19. In-silico is believed to have great potential for speeding up drug discovery because expensive laboratory work and clinical trials could be reduced.