The Global Biosimulation Market Size anticipated to reach USD 4.4 billion during forecast period 2019 to 2025. The industry analysis includes regional and segmental share, with covid-19 impact analysis, the report is published by Market Research Future (MRFR).
Biosimulation Market Overview:
Market Research Future (MRFR) believes that the biosimulation market can surpass USD 4.4 billion by 2025, with a CAGR of 15.9% during the forecast period covering 2019 to 2025.
Increasing investment for the research and development sector would be a major influencer for the market. Increasing adoption of software by various bodies to reduce the production cost of drugs, technological support, IT support, increasing healthcare expenditure, and others are expected to support market growth. However, the market could suffer from a lack of standardization.
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Biosimulation Market Competitive Landscape:
Simulation Plus (US), Dassault Systèmes (France), Certara USA, Inc. (US), Physiomics (UK), Schrödinger (US), Chemical Computing Group (Canada), Advanced Chemistry Development, Inc. (Canada), In Silico Biosciences (US), Nuventra Pharma (US), Genedata AG (Switzerland), Leadinvent Technologies (India), Evidera (US), Rosa (US), LeadScope, Inc. (US), and INOSIM Software GmbH (Germany) are eminent names involved in the global biosimulation market. These companies and their strategic moves are expected to trigger better growth in the coming years.
Biosimulation Market Segmentation:
The global study of the biosimulation market includes a segmentation that is founded on product, application, end users, and delivery model. These segments rely on information gathered using scientific methods and help in forming strategies to increase the profit margin.
By product, the global discussion of the biosimulation market includes software and services. The software segment has a better market share. The services segment includes in-house services and contract services.
By application, the report on the biosimulation market includes studies on drug development, drug discovery, and others. The drug development segment is ruling the sector.
By delivery model, the global market report includes an understanding of subscription models and ownership models. The subscription model segment has a better market impact.
By end user, the study comprising details on segments of the biosimulation market incorporates pharmaceutical & biotechnology companies, contract research organizations, regulatory authorities, research institutes, and others. The pharmaceutical & biotechnology companies segment has the upper hand in the market.
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Biosimulation Market Regional Analysis:
The Americas would benefit remarkably from the global biosimulation market. Their technological prowess, infrastructural setup, funding possibilities, and others are expected to boost the regional market growth. The US and Canada would impact the market with substantial profits.
Biosimulation Industry News:
In July 2020, InSilicoTrials, an Italian health tech startup, announced that they had raised USD 3.53 million in a Series A funding round led by United Ventures. They also received support from Pi Campus. The startup is known for its ability to provide affordable simulation models for various pharmaceutical and medical research projects. The company believes that the healthcare and life sciences segments are yet to experience the disruptive nature of simulation, which is why the company is creating scope for tie-ups and fusion of ideas to develop better market stand.
In July 2020, Certara®, a company known for its impact in the fields of biosimulation, announced that it is launching a COVID-19 Clinical Outcomes Database to allow users access to up-to-date information on the results of COVID-19 clinical trials and observational studies. It will include publicly available study results to understand and compare the impact of various treatments. It received funding from the COVID-19 Therapeutics Accelerator, launched by the Bill & Melinda Gates Foundation, Mastercard, Wellcome, and other donors.
The demand to develop drugs and vaccines to treat COVID-19 is expected to boost the intake of biosimulation in various sectors. This could transform the market by adding speed and curbing the chances of failure of research works.
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