The global biosimulation market report by Market Research Future (MRFR) claims a possibility for the market of surpassing USD 4.4 billion by 2025, with an impressive CAGR of 15.9% during the forecast period (2019-2025).
The biosimulation market is witnessing tailwinds from a high intake of machines used to create predictive models for drugs. At the same time, the question regarding the use of animals is also troubling various regulatory bodies, which is providing scope for research and development. Pharmaceutical companies, along with IT companies are trying out best-in-class technologies to improve output. Various pre-clinical developments are also assisting the growth of this market. It is also benefiting from the demand to reduce drug development costs.
The global market on the biosimulation has been segmented in MRFR’s report on the basis of product, application, delivery model, and end users. This detailed look into the process would reveal insights that can improve the standard of strategies.
By product, the global market for biosimulation includes software and services. The software segment would enjoy the upper hand in the market.
By application, the market report on the biosimulation encompasses drug development, drug discovery, and others. The drug development segment is outperforming others.
By delivery model, the market report on the biosimulation can be segmented into subscription models and ownership models. The subscription model segment has better market coverage.
By end users, the market report on the biosimulation is covering pharmaceutical & biotechnology companies, contract research organizations, research institutes, regulatory authorities, and others. The pharmaceutical & biotechnology companies segment would dominate the global market.
The report on the biosimulation market is handling a detailed overview of various demographic challenges that can contribute to the growth of the market. This is slated to provide better growth opportunities to companies.
The Americas is the market with the maximum market share. This is primarily due to a large number of clinical trials and various drug developments that are happening across the regional laboratories. The market is benefiting from strong contributions from several private and public bodies. It would gain much from the contributions of the US as their research and development expenditure is soaring remarkably. In Europe, various regulatory bodies are making it a point that laboratories use only the advanced technologies for drug developments to maintain the highest safety standard procedures.
In the Asia Pacific region, growing investment in the sector from several associated companies and emerging economies are going to ensure high growth. This would be the fastest in terms of CAGR. Also, a lot of global players are opting for the region as a perfect business opportunity. Better healthcare policies are also going to help in the launching process of the market.
The global market for biosimulation is all set to grow with the contributions made by companies like Certara USA, Inc. (US), Dassault Systèmes (France), Schrödinger (US), Simulation Plus (US), Physiomics (UK), Chemical Computing Group (Canada), Advanced Chemistry Development, Inc. (Canada), In Silico Biosciences (US), Nuventra Pharma (US), Rosa (US), Genedata AG (Switzerland), LeadScope, Inc. (US), Evidera (US), Leadinvent Technologies (India), and INOSIM Software GmbH (Germany). These companies are playing a crucial role in taking the global market ahead by launching strategies that would trigger significant growth.
In August 2019, Verisim Life launched a new method of drug testing where the system would be powered by Artificial Intelligence. This method would solve the ethical question of using animals for various testing across laboratories.