Biosimulation Market By Product (Software, Services), By Application (Drug Development, Drug Discovery, Others), By Delivery model (Subscription Model, Ownership Model), By End User (Pharmaceutical and Biotechnology Companies, Contract Research Organization (CROs), Academic and Research Institutes): Global Opportunity Analysis and Industry Forecast, 2023-2032
The Biosimulation Market was valued for $2,452.31 million in 2022 and is estimated to reach $10,573.52 million by 2032, exhibiting a CAGR of 15.8% from 2023 to 2032. Biosimulation uses computer-based mathematical simulations to replicate biological processes, dynamics, and systems. Model-based predictions software such as biosimulation allow researchers to gather important data about how biological systems behave without having to conduct such tests in living organisms, including humans and animals.
Pre-clinical testing of novel medicines, lead identification and optimization, target identification and validation are some primary areas where biosimulation is being used in drug R&D. Biosimulation forms the backbone of “virtual” drug trials, whose aim is to accurately predict the way medicines and diseases behave in the body by applying principles from biology, chemistry, and pharmacology with proprietary algorithms. In addition, this work includes gathering critical insights concerning drug interactions, safe dosing, toxicity predictions, and more.
Major factors that drive the growth of the global biosimulation market include an increase in demand for drug discovery and development, rise in need for personalized medicines, and surge in technological advancement in biosimulation software and devices. For instance, in June 2022, Certara, a global leader in biosimulation, released the new versions of immunogenicity (IG), immuno-oncology (IO) and vaccine simulators to help predict how drugs work and address key questions in the development of novel biologic therapies.
Furthermore, increase in R&D investment in pharmaceutical & biotechnology industries for the development of novel drug therapies and increase in prevalence of chronic diseases such as cancer, diabetes, Alzheimer's, cardiovascular disease, kidney disorders, and various others are the major factors that increase the demand for biosimulation software and hence propel the growth of the market. In addition, rise in demand to reduce drug discovery and development costs and increase in penetration of biosimulation software in contract research organization (CROs) and academic research institutes for drug discovery and development are the major factors that boost the growth of the biosimulation market.
However, the lack of standardized formats, protocols, and interoperability between different simulation platforms and limited awareness and education about biosimulation techniques among researchers and healthcare professionals restrain the growth of the biosimulation market. On the contrary, the expanding applications and increased use of personalized medicine and biosimulation solutions for pediatric drug development are expected to provide additional opportunities for the biosimulation market to grow in the coming years.
The global biosimulation market is segmented into product, application, end user, and region. On the basis of product, the market is bifurcated into software and services. On the basis of delivery model, the market is segmented into subscription model and ownership model. On the basis of application, it is segregated into drug development, drug discovery and others. On the basis of end user, it is segmented into pharmaceutical and biotechnology companies, contract research organization (CROs) and academic and research institutes. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major players profiled in the report are Dassault Systemes, VeriSIM Life, Certara Inc, Genedata AG, SimBioSys, Physiomics PLC, INOSIM Software GmbH, Schrodinger, Inc. Simulation Plus Inc, and Cadence Design Systems, Inc. The key players such as Simulation Plus Inc, Cadence Design Systems Inc, VeriSIM Life, Certara Inc, Schrodinger Inc, and Genedata AG have adopted product launch, acquisition, collaboration, partnership, and business expansion as major developmental strategies to improve the product portfolio of the biosimulation market.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the biosimulation market analysis from 2022 to 2032 to identify the prevailing biosimulation market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the biosimulation market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global biosimulation market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy ProductSoftware
Services
By ApplicationDrug Development
Drug Discovery
Others
By Delivery modelSubscription Model
Ownership Model
By End UserPharmaceutical and Biotechnology Companies
Contract Research Organization (CROs)
Academic and Research Institutes
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
SimBioSys
Physiomics Plc
Genedata AG
Simulations Plus, Inc.
Cadence Design Systems, Inc.
Certara, Inc.
VeriSIM Life
Schrodinger, Inc.
Dassault Systemes
INOSIM Software GmbH
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