The Global Biosimulation Market was valued at around USD 2.6 billion in 2021, with a projected CAGR of 21.5% for the next ten years the market is likely to reach a valuation of USD 20.9 Billion by the end of 2032. The need for developing new drugs to compact the developing diseases will drive the demand for biosimulation.
| Report Attributes | Details |
|---|---|
| Estimated Market Value (2022E) | USD 3.1 Billion |
| Forecasted Market Value (2032F) | USD 20.9 Billion |
| Global Market Growth Rate (2022 to 2032) | 21.5% CAGR |
| United States Growth Rate (2022 to 2032) | ~21.6% CAGR |
| Key Companies Covered | Certara; Dassault Systemes; Advanced Chemistry Development; Simulation Plus Inc; Schrodinger, Inc.; Chemical Computing Group; Physiomics Plc; Rosa & Co. LLC; BioSimulation Consulting Inc.; Genedata AG; Instem Group of Companies; PPD, Inc.; Insilico Biotechnology AG; Rhenovia Pharma; LeadInvent Technologies; Nuventra Pharma; In Silico Biosciences |
Future Market Insight’s analysis reveals that most of the revenue is generated from biosimulation software. On the other hand, drug development in deployment mode will be the most lucrative with a CAGR of 22.8% during the forecast period.
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The global market for Biosimulation registered a CAGR of 15.8% from 2015 to 2021. The market growth is projected to surge due to technological advancement in software for biosimulation. In 2021, the global market size of biosimulation was valued at USD 2.6 Billion and is estimated to increase to a valuation of USD 3.1 Billion in 2022.
Biosimulation is the use of computer-aided mathematical models to simulate biological processes. Biosimulation has various applications like developing new drugs and discovering new drugs. The drug discovery and development process is expensive, and the failure of a therapeutic molecule in the late stages of drug development results in a massive waste of time, money, and other resources. As a result, a predictive tool is required to aid in predicting the future results of drug development through simulation of the biological processes involved.
Biosimulation helps to simulate the effect of drugs on the body with the help of simulation. Pharmaceutical manufacturers are using biosimulation throughout the drug development process to identify the positive and negative effects of their drug can have on the people if the drug is used.
The global biosimulation market has predicted to surge ahead at a CAGR of 21.5% and record sales worth USD 20.9 Billion by the end of 2032. USA will continue to be the largest procurer of biosimulation throughout the analysis period accounting for over USD 7.5 Billion absolute dollar opportunity in the coming 10-year epoch.
Rising global healthcare spending will increase spending on developing drugs, which will drive revenue for biosimulation. Many drugs for mimic diseases are developed using biosimulation. Computers operating sickness simulations with the aid of biosimulation software can be used to conduct virtual clinical trials for new pharmaceutical treatments. Developing a new drug requires significant research and studies.
Every stage of drug development from clinical trials to the approval of the drug has a serious chance of failure. Biosimulation lowers these odds by predicting these failures in the development process. Also, it lowers the cost of pharmaceutical companies by lowering the number of clinical trials.
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Biosimulation uses mathematical equations to depict a real-life process that occurs within the human body. Researchers may simulate a wide range of scenarios and examine the behavior of a human system in diverse settings since it can duplicate human biological elements and their interactions with medications when they are put into the system.
In order to obtain a better result, skilled expertise is required to perform the biosimulation software. The demand for skilled expertise is high in research laboratories and companies. In addition, this process is very complex and highly technical as they involve various laboratory documentation systems. In order to overcome this issue, researchers must receive proper training and assistance. These factors make biosimulation development time-consuming, thus limiting its adoption among researchers.
North America holds the largest market for biosimulation. The rising chronic disease among the population in the region and regulations implemented by the governments for patient safety and treatment standards is driving the demand for biosimulation in the region. In silico modeling is being used to boost the standard of patient care and safety. This is particularly true for the implementation of regulatory laws that have high standards for the safety and care of patients.
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The encouraging government policies in the USA and the rising healthcare expenditure due to the dominance of chronic diseases are key factors that are rising drug development and discovery in the USA. The market for biosimulation in the USA has projected to reach a valuation of USD 8.7 Billion in 2032.
The government policies for developing quality pharmaceutical drugs and the Chinese government‘s commitment to develop and increase innovation in its healthcare system are driving the market for biosimulation in China. Chinese government’s plan to be a global leader in drug development is attracting drug development and pharmaceutical companies to China for the development of new drugs, which will further increase the demand for the biosimulation market over the years. The market for biosimulation in China is forecasted to reach a valuation of USD 1.7 Billion by 2032.
The market in the United Kingdom is projected to reach a valuation of USD 880 million by 2032. The market is expected to grow at a CAGR of 20.6% from 2022 to 2032 to gross an absolute dollar opportunity of USD 336 million.
The market for biosimulation in Japan is expected to reach USD 1.2 Billion by 2032. Growing at a CAGR of 25.1% during the forecast period, the market is likely to garner an absolute dollar opportunity of USD 1.1 Billion.
The market through the CROs segment is anticipated to grow at the fastest rate during the forecast period. The growing tendency of firms to cut total spending is expected to drive segment growth. Other factors like increased efficiency and the ability to focus on core areas for company development will also drive the use of biosimulation in CROs.
The key companies operating in the biosimulation market include Certara, Dassault Systemes, Advanced Chemistry Development, Simulation Plus Inc., Schrodinger, Inc., Chemical Computing Group, Physiomics Plc, Rosa & Co. LLC, BioSimulation Consulting Inc., Genedata AG, Instem Group of Companies, PPD, Inc., Insilico Biotechnology AG, Rhenovia Pharma, LeadInvent Technologies, Nuventra Pharma, and In Silico Biosciences.
Some of the recent developments by key providers of biosimulation are as follows:
Similarly, the team at Future Market Insights has tracked recent developments related to companies offering Biosimulation, which is available in the full report.
The global biosimulation market was valued at USD 2.6 billion in 2021.
The biosimulation industry is set to witness a high growth rate of 21.5% over the forecasted period and be valued at USD 20.9 billion by 2032.
The Biosimulation Market expanded at a CAGR of 15.8% from 2015 through 2021.
Certara, Dassault Systemes, Advanced Chemistry Development, Simulation Plus Inc, and Schrodinger, Inc. are the key providers of biosimulation.
The USA, United Kingdom, China Japan, and South Korea are expected to drive the most sales growth of Biosimulation.
The market in the USA has forecasted to account for over 40% of the global market share in 2032.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2015 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Product Type 5.1. Software 5.2. Services 5.2.1. In-house Services 5.2.2. Contract Services 6. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Deployment Mode 6.1. Drug Development 6.2. Drug Discovery 6.3. Other Applications 7. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By End Use 7.1. Pharmaceutical & Biotechnology Companies 7.2. CROs 7.3. Regulatory Authorities 7.4. Academic Research Institutions 8. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia 8.6. Oceania 8.7. Middle East and Africa (MEA) 9. North America Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 12. East Asia Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 13. South Asia Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 14. Oceania Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 15. MEA Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Certara 18.2. Dassault Systèmes 18.3. Advanced Chemistry Development 18.4. Simulation Plus Inc 18.5. Schrödinger, Inc. 18.6. Chemical Computing Group 18.7. Physiomics Plc 18.8. Rosa & Co. LLC 18.9. Consulting Inc. 18.10. Genedata AG 18.11. Instem Group of Companies 18.12. PPD, Inc. 18.13. Insilico Biotechnology AG 18.14. Rhenovia Pharma 18.15. LeadInvent Technologies 18.16. Nuventra Pharma 18.17. In Silico Biosciences 19. Assumptions & Acronyms Used 20. Research Methodology
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