ID: MRFR/HC/7108-HCR | 118 Pages | Published By Kinjoll Dey on April 2023
The global biosimulation market is projected to reach USD 2,888 billion at a CAGR of 15.10% from 2022 to 2030.
$2,888 billion
15.10%
North America
2022-2030
Biosimulation Market is expected to reach around USD 9.85 Billion by 2030 at CAGR of 15.9% during the forecast period 2022-2030. Drug discovery & development is an expensive process, and any deviation in results in the late phases of drug development results in a huge waste of time, money and other resources. Hence, there is a need to develop a tool that will support the outcomes of the drug development process by simulating the biological processes involved.
Biosimulation is the simulation of biological processes with the help of a computer program. Biosimulation is a predictive and analytical tool used in the drug discovery stage to predict future outcomes of current experimental trials. Virtual clinical trials of new developing pharmaceutical drugs can be conducted on computers by running disease simulations. Biosimulation software has wide applications in pharmaceutical drug discovery and development process as it can save both time and money for pharmaceutical companies in their search to discover new drugs and bring them to market.
Also, various government initiatives for the adoption of biosimulation models are contributing to the growth in the market. For instance, BioSim (Biosimulation) (an EU funded research project) received EUR 10.7 million under the 'life sciences, genomics, and biotechnology for health' priority of the Sixth Framework Programme (FP6). The overall objective of the BioSim project is to establish a European Network of Excellence, creating broader contacts between the many research groups working in this field throughout Europe. The strategic initiative by the EU for funding the BioSim Network of Excellence to structure efforts to develop simulation models for the design, selection, and testing of drugs is also projected to boost Biosimulation Market growth.
Biosimulation Market Influencer
Increasing R&D investments by pharmaceutical, biotechnology, and medical device companies for the development of novel drugs ensures the growth in biosimulation market.
Market Drivers
Market Restraints
Biosimulation Market Segmentation
By Product
By Application
By Delivery Model
By End Users
Biosimulation Market By Region
Biosimulation Market Key Players
Report Attribute/Metric | Details |
---|---|
Market Size | USD 9.85 Billion |
CAGR | 15.9% |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2020 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Product, By Application, By Delivery Model and By End Users |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Dassault Systèmes (France), Certara USA, Inc. (US), Simulation Plus (US), Schrödinger (US), Chemical Computing Group (Canada), Physiomics (UK), In Silico Biosciences (US), Advanced Chemistry Development, Genedata AG (Switzerland), Nuventra Pharma (US), Evidera (US), Leadinvent Technologies (India), LeadScope, Inc. (US), Rosa (US), INOSIM Software GmbH (Germany) |
Key Market Opportunities |
|
Key Market Drivers |
|
Leading players in the Biosimulation Market include Dassault Systemes, Schrodinger, and Rosa, among others.
Global Biosimulation Market is expected to exhibit a strong 15.9% CAGR over the forecast period from 2022 to 2030.
The growing investment in drug discovery efforts is likely to be a major driver for the Global Biosimulation Market.
The Americas is the largest regional market for Biosimulation.
Biosimulation is the simulation of biological processes with the help of a computer program. Biosimulation is a predictive and analytical tool used in drug discovery to predict future outcomes of current experimental trials.