01-Apr-2019 | Zion Market Research
Zion Market Research has published a new report titled “Biosimulation Market by Product (Software and Services), by Application (Drug Development, Drug Discovery, and Others), and by End-User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Regulatory Authorities, and Academic Research Institutions): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global biosimulation market was valued at approximately USD 1.65 billion in 2018 and is expected to generate around USD 4.58 billion by 2025, at a CAGR of around 15.7% between 2019 and 2025.
Biosimulation is a biomedical research approach for patient treatment, where computer modeling is utilized along with clinical and experimental trials. It is referred to as a tool used for prediction of the outcomes of existing trials associated with innovation and new drug development.
Browse the full “Biosimulation Market by Product (Software and Services), by Application (Drug Development, Drug Discovery, and Others), and by End-User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Regulatory Authorities, and Academic Research Institutions): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/biosimulation-market
The course of development and discovery of drug is expensive and the negative outcome of the drug in the late phase of development turns into a huge waste of money, time, and other resources. Therefore, there is a necessity of a predictive and analytical tool that will support the upcoming results of drug development via simulation of the biological procedures involved. This is a major factor propelling the global biosimulation market growth over the forecast time period. The other influencing factors, such as the rising healthcare expenditure and increasing adoption of advanced technology and software, will also support the global biosimulation market growth over the estimated time period.
The global biosimulation market is segmented on the basis of product, application, and end-user. Based on product, the market is segmented into services and software. The services segment is further classified into contract services and in-house services. The software segment is estimated to hold a major share of the global biosimulation market in terms of revenue in the future. This growth can be attributed to the easy access and availability of an extensive array of application specific software based on different needs and interests of users/researchers. By application, the market includes drug discovery, drug development, and others. The drug development segment held the major share of the global biosimulation market in 2018, owing to favorable government initiatives for incorporating the advanced software. The drug discovery segment is anticipated to grow at a noteworthy rate, owing to the increasing adoption of biosimulation in pharmacogenetics and pharmacogenomics over the forecast timeline. By end-user, the market is segmented into pharmaceutical and biotechnology companies, contract research organizations, regulatory authorities, and academic research institutions. The contract research organizations segment is estimated to register the highest growth rate in the future.
By region, North America is projected to dominate the global biosimulation market throughout the forecast time period, owing to a large number of clinical trials and drug development practices, increasing growth of pharmaceutical and biotechnology companies, and growing adoption of personalized medicines. Europe held the second largest share of the global biosimulation market in 2018. The Asia Pacific biosimulation market is expected to grow rapidly over the forecast timeline, owing to the increasing preference for contract research organizations, developing healthcare infrastructure, and rising expenditure in the healthcare IT sector.
Some key players of the global biosimulation market include Dassault Systèmes SE, Certara USA, Inc., Chemical Computing Group, Physiomics, In Silico Biosciences, INOSIM Software, Advanced Chemistry Development, Inc., Schrodinger, Inc., Genedata AG, and Rhenovia Pharma Ltd., among others.
This report segments the global biosimulation market as follows:
Global Biosimulation Market: Product Analysis
Global Biosimulation Market: Application Analysis
Global Biosimulation Market: End-User Analysis
Global Biosimulation Market: Regional Analysis
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