In Silico Clinical Trials Market: Current Analysis and Forecast (2022-2028)

In Silico Clinical Trials Market: Current Analysis and Forecast (2022-2028)

In silico clinical trials refer to the simulation of clinical trials using computer models and simulations, rather than physical trials on human or animal subjects. These simulations can be used to assess the safety and efficacy of drugs, medical devices, and other treatments before they are tested in real-world trials. The market of in silico clinical trials is increasing mainly due to the benefits offered by these trials such as these trials reducing the risks associated with the physical trials such as side effects of the drug on human or animal subjects and reduced costs. Furthermore, the rising prevalence of chronic diseases and the increasing demand for effective treatment of attributes to the growth of the market. For instance, according to the WHO, cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, or nearly one in six deaths.

The In Silico Clinical Trials Market is expected to grow at a steady rate of around 8% owing to the frequent launches of in silico clinical trial services. For instance, in December 2020, Instem announced the launch of the Predict™ In Silico Toxicology service. Predict™ is a leading-edge, technology-enabled service that delivers a combination of powerful computation models with expert scientific review, to help clients predict chemical safety more quickly, efficiently, and comprehensively.

• Based on the industry, the market has been categorized into medical devices and pharmaceuticals. Among them, the medical devices segment held a dominant share of the market in 2021. The growing trend toward the use of personalized medical devices, such as implantable and drug-delivery systems, to ensure compatibility with specific patients attributes to the market growth of the segment.
• Based on the therapeutic area, the market has been categorized into oncology, infectious disease, hematology, cardiology, dermatology, neurology, diabetes, and others. Among them, the infectious disease segment witnessed higher CAGR during the forecast period. The rising prevalence of infectious diseases along with the rapid mutations in the viruses provides resistance to the virus from the existing drugs are the responsible factors for the growth of the infectious disease segment. For instance, as per the WHO, in 2021, an estimated 10.6 million people fell ill with tuberculosis (TB) worldwide. Six million men, 3.4 million women, and 1.2 million children.
• Based on the phase, the market has been categorized into phase I, phase II, phase III, and phase IV. Among them, the phase II segment held a dominant share of the market in 2021. Phase II in silicon clinical trials are typically used to test the safety and efficacy of new treatments in virtual populations of patients. Phase II clinical trials play a crucial role in clinical decision making and this step determines the future of the drug. Therefore, the segment holds a prominent share in the in silico clinical trials market.
• For a better understanding of the market adoption of the in silico clinical trials industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America held a dominant market share in 2021. North America has been a leader in adopting and utilizing in silico clinical trials in drug development, as it allows for a more efficient and cost-effective way of testing potential therapies before moving to human trials. Furthermore, the increased initiation of clinical trials by the market players in the region also attributes to the growth of the market in the region. For example, in February 2022, Insilico Medicine ("Insilico"), an end-to-end artificial intelligence (AI)-driven drug discovery company, announced that it has dosed multiple healthy volunteers in Phase I clinical trial evaluating ISM001-055, the first anti-fibrotic small molecule inhibitor generated by Insilico's AI-powered drug discovery platform for idiopathic pulmonary fibrosis (IPF).
• Some of the major players operating in the market are Certara, USA; Nova.; Insilico Medicine; Immunetrics; Schrödinger, Inc.; Simulations Plus; Recursion; Sensus Healthcare; Aitia.; and Abzena Ltd.