Personalized Therapy Biosimulation Market Size Worth USD 3,164.1 Million in 2028 | Emergen Research
The global personalized therapy biosimulation market size reached USD 1,061.7 Million in 2020 and is expected to register a revenue CAGR of 14.6%, during the forecast period, according to latest analysis by Emergen Research. The rising adoption of computer-aided technologies for developing patient-specific models is augmenting the demand for biosimulation tools and services in healthcare.
Complexity involved in disease pathophysiology, coupled with the dearth of reliable animal models for studying human diseases, is fuelling the development of personalized disease models using computational approaches. Moreover, increasing investments by public and private entities to promote the use of in silico models is expected to create lucrative growth opportunities for market players over the forecast period.
For instance, in September 2019, the U.S. National Institutes of Health (NIH) awarded a grant of USD 6 Million to Vanderbilt University Medical Center (VUMC) to develop a biophysical simulation platform for aiding the development of personalized therapies. The platform will be used to study the effect of various therapeutic interventions, such as electrical stimulation and small molecule drugs, on heart cells.
Similarly, in June 2019, Siemens Healthineers announced the launch of its new software solution, Siemen OncoSimulator, which is based on the company’s simulation platform and enables personalized treatment for cancer patients. The new software will help clinicians in developing patient-specific models for analyzing the effect of various therapeutic interventions, such as surgery, radiation therapy, and chemotherapy.
Personalized therapy biosimulation is an area of medicine that uses computer models to simulate the effects of drugs and other treatments on individual patients. The goal is to tailor therapies to the unique characteristics of each patient, in order to maximize the chances of success and minimize side effects.
Some Key Highlights from the Report
- Some major companies operating in the global market include Cellworks Group Inc., Certara USA Inc., Simulation Plus Inc., Schrodinger Inc., In Silico Biosciences Inc., Genedata AG, Physiomics plc, Insilico Biotechology AG, Chemical Computing Group ULC (CCG), and Evidera Inc.
- In June 2020, Certara USA Inc. secured a contract from National Cancer Institute (NCI) to develop a personalized therapy biosimulation platform. This platform will be used by NCI's Cancer Therapy Evaluation Program (CTEP) to streamline the drug development process and reduce its cost and time. The company will focus on delivering this solution within 18 months.
- Software segment is expected to account for largest revenue share over the forecast period due to the increasing adoption of personalized fault detection systems and robots in the pharmaceutical industry. Increasing demand for personalized drug development is driving growth of the segment.
- Oncology segment revenue is expected to expand at a rapid CAGR over the forecast period owing to the increasing prevalence of cancer globally. According to the World Health Organization, in 2018, there were 18.1 million new cancer cases and 9.6 million deaths globally.
- Drug discovery segment revenue is expected to register a significantly robust CAGR over the forecast period owing to the rising demand for personalized medicines. According to the Food and Drug Administration (FDA), as of December 2018, there were 4,655 ongoing clinical trials testing personalized medicines in the U.S. Also, as of July 2019, 1,735 personalized medicines were in various stages of clinical development globally.
- Pharmaceutical & biotechnology companies segment is expected to account for largest revenue share over the forecast period owing to high adoption of personalized therapy biosimulation during drug development process by these companies. Key players in market are focused on providing personalized therapy biosimulation services to their clients that include pharmaceutical & biotechnology companies among others. For instance, in October 2016, Lausanne, Switzerland based company Simulations Plus Inc. acquired DILIsym Services Inc., a provider of corporate software for the evaluation of drug-induced liver injury. This acquisition is expected to expand company’s client base as DILIsym Services Inc. have clients in major pharmaceutical & biotechnology companies across the globe.
Emergen Research has segmented the global personalized therapy biosimulation market on the basis of product, therapeutic area, application end-use, and region:
Product Outlook (Revenue, USD Billion; 2018–2028)
Therapeutic Area Outlook (Revenue, USD Billion; 2018–2028)
Application Outlook (Revenue, USD Billion; 2018–2028)
- Drug Development
- Drug Discovery
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations (CROs)
Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Explore More Reports Emergen Research:
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
Emergen Research Media Citations: https://www.emergenresearch.com/media-citations
Visit for More Insights: https://www.emergenresearch.com/insights
Press Release Available @ https://www.emergenresearch.com/press-release/global-personalized-therapy-biosimulation-market