Personalized Therapy Biosimulation Market Size to Reach USD 3,164.1 Million in 2028 Growing at a CAGR of 14.6%, according to Emergen Research
Emergen Research has published its latest report titled “Personalized Therapy Biosimulation Market, By Product Type (Software, Services), By Therapeutic Area (Oncology, Others), By Application (Drug Development, Drug Discovery, Others), By Delivery Model (Subscription Models, Ownership Models), By End-use (Pharmaceutical and Biotechnology Companies, Research Centers & Academic Institutes, Contract Research Organizations, Others), and By Region, Forecast to 2028”
According to Emergen Research, the global personalized therapy biosimulation market size was USD 1,061.7 million in 2020 and is expected to reach USD 3,164.1 million in 2028 and register a revenue CAGR of 14.6% during the forecast period, 2021-2028.
The global personalized therapy biosimulation market revenue growth is majorly supported by factors such as increasing cases of drug relapse and drug resistance, rising prevalence of severe chronic diseases such as cancer, rising focus on developing personalized cancer therapies, and increasing investments by government bodies in pharmaceutical and biotechnology R&D activities for advanced therapeutics. Growing use of biologics and biosimilars due to growing need for decreasing R&D costs and better safety and efficacy in clinical trials is another key factor driving the global personalized therapy biosimulation market revenue growth to a major extent.
In personalized therapy biosimulation, computational models are used to describe various pharmacokinetic, biological, and pathological processes to facilitate drug development. Through this process, a multi-omic profile of the patient is created that helps predict individual patient responses to particular drug combinations. Leading prediction medicine company, Cellwork Group Inc., has introduced a personalized cancer therapy biosimulation platform that leverages biosimulation technology, artificial intelligence, next-generation sequencing (NGS) informatics, and therapy response index (TRI) to improve cancer treatments and enhance patient care. Furthermore, continuous advancements in precision oncology and growing use of Quantitative System Pharmacology (QSP) in drug discovery & development processes are factors expected to drive market revenue growth in the near future.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Drug Development Segment Accounted for Largest Revenue Share in 2020:
The drug development segment dominated other application segments in terms of revenue share in the global market in 2020. Growing use of advanced biosimulation technologies in drug development processes – which include investigation of new drugs, preclinical testing, and clinical testing, rising need to streamline clinical trial processes, and increasing applications of pharmacokinetics/pharmacodynamics (PK/PD) modelling and simulation techniques are major factors driving revenue growth of this segment.
Pharmaceutical and Biotechnology Companies Segment to Account for Fastest Revenue CAGR:
The pharmaceutical & biotechnology companies segment is projected to register the fastest revenue CAGR over the forecast period, owing to factors such as rise in pharmaceutical R&D activities, increasing clinical studies and trials of new drugs to determine their safety and efficacy, growing use of advanced biosimulation techniques in drug development, and increasing need for advanced cancer therapeutics.
North America Accounted for Largest Revenue Share in 2020:
North America account for largest revenue share in the global market in 2020. Rise in pharmaceutical research and development programs, rapid adoption of cutting-edge, AI-based biosimulation technologies to facilitate drug discovery and development, rising number of clinical trials of new drugs and therapeutics, and growing prevalence of chronic diseases such as cancer are among the major factors contributing to the North America market revenue growth. Other factors such as rising demand for personalized cancer therapy, increasing applications of QSP in pharmaceutical R&D activities, and presence of key market players including Certara USA Inc., Nuventra Pharma, and Cellworks Group Inc. in the region further boost the regional market revenue growth.
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Major Companies in the Global Personalized Therapy Biosimulation Market Include:
- Cellworks Group Inc.
- Certara USA Inc.
- Simulation Plus Inc.
- In Silico Biosciences Inc.
- Genedata AG
- Physiomics plc
- Insilico Biotechology AG
- Chemical Computing Group ULC (CCG)
- Evidera Inc.
- Dassault Systèmes
- Nuventra Pharma
- Schrödinger Inc.
- INOSIM Software
- LeadInvent Technologies
For the purpose of this report, Emergen Research has segmented the personalized therapy biosimulation market based on product type, therapeutic area, application, delivery model, end-use, and region:
Product Type Outlook (Revenue, USD Million; 2018–2028)
Therapeutic Area Outlook (Revenue, USD Million; 2018–2028)
Application Outlook (Revenue, USD Million; 2018–2028)
- Drug Development
- Preclinical Testing
- Clinical Trials
- Drug Discovery
- Target Identification and Validation
- Lead Identification and Optimization
Delivery Model Outlook (Revenue, USD Million; 2018–2028)
- Subscription Models
- Ownership Models
End-use Outlook (Revenue, USD Million; 2018–2028)
- Pharmaceutical and Biotechnology Companies
- Research Centers & Academic Institutes
- Contract Research Organizations (CROs)
Region Outlook (Revenue, USD Million; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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