Biosimulation Market is Driven by Increase in Adoption of Biosimulation in Drug Discovery and Development by Regulatory Bodies
Wilmington, Delaware, United States, Transparency Market Research Inc.: The global biosimulation market was valued at US$ 1.8 Bn in 2019 and is projected to expand at a high CAGR from 2020 to 2030
Biosimulation can be defined as computer-aided mathematical simulation of the biological processes, which forms an integral part of the human biology system. Biosimulation offers model-based prediction of the behavior and the dynamics of biological systems.
The global biosimulation market is driven by increase in adoption of biosimulation in drug discovery and development by regulatory bodies, rise in failure rates of drugs in the late clinical trial phases, surge in spending on research & development by pharmaceutical and biotechnology companies, and increase in awareness about the advantages of biosimulation
Additionally, usage of biosimulation technologies in testing the hypothesis of using drugs for a new indication or disease contributes to the growth of the market
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Increasing Demand for Biomedical Simulations to Drive Global Market
- Recent advancements in the development of biomedical simulations have played an imperative role in boosting the overall growth of the global biosimulation market. Biosimulations are increasingly being used to assess diseases, engineer cells, and model cellular processes. Market players that are currently operating in the biosimulation market are focusing on enhancing the quality of biosimulations by introducing simulation models by leveraging tools and practicing utilization in software engineering. The model engineering trend has gained considerable momentum in the recent past due to which, the global biosimulation market is on the course to exhibit an impressive growth rate during the assessment period.
- Progress in software engineering is expected to largely benefit the development of biosimulation models in terms of construction, design, testing, error checking, etc. Market players are anticipated to address the current underlying issues pertaining to biosimulation such as readability, reproducibility, and reuse. Advancements in model engineering techniques are likely to play an essential role in the overall development of the global biosimulation market during the assessment period.
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Biosimulation Market: Segmentation
- The global biosimulation market has been segmented based on offering type, application, end user, and region
- In terms of offering type, the global biosimulation market has been categorized into software and services. The software segment has been split into PK/PD modeling & simulation, PBPK modeling & simulation, trial simulators, molecular modeling, and others.
- Based on application, the global biosimulation market has been classified into drug discovery, drug development, and others. The drug discovery segment has been segregated into target identification & validation and lead identification & optimization.
- Rise in usage of biosimulation and modeling technologies in drug discovery can be attributed to increase in usage of molecular modelling for the identification of effective compounds that help enhance the efficiency and reduce drug toxicity. Furthermore, role of molecular dynamics simulation in drug discovery propels the segment. The drug development segment has been bifurcated into pre-clinical testing and clinical trial.
- In terms of end user, the global biosimulation market has been divided into contract research organization, pharmaceutical & biotechnology companies, research institutes, regulatory institutes, and others
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Biosimulation Market: Regional Segmentation
- The global biosimulation market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global biosimulation market in 2019 and the trend is projected to continue during the forecast period
- The biosimulation market in Asia Pacific is anticipated to expand at a high CAGR from 2020 to 2030. Growth of the market in the region can be attributed to increase in the number of regulatory agencies adopting biosimulation and rise in momentum on life sciences research, owing to favorable government policies and partly due to significant demand for innovative drugs.
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Biosimulation Market: Major Players
The global biosimulation market is fragmented in terms of number of players. Key players operating in the global biosimulation market are
- Certara, Dassault Systèmes S.A.,
- Schrödinger, Inc.,
- Simulations Plus, Inc.,
- Rhenovia Pharma,
- Advanced Chemistry Development, Inc.,
- Insilico Biotechnology AG,
- Physiomics plc,
- Genedata AG,
- Rosa & Co. LLC., among others
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