The favorable government policies in the United States, as well as growing healthcare expenditures due to the prevalence of chronic illnesses, are major drivers driving drug research and discovery in the United States and Canada. The Biosimulation Industry in the United States is expected to reach US$8.7 billion by 2032.
With an estimated market size of US$ 2.6 billion in 2021, the global biosimulation industry is expected to develop at an astounding rate of 21.5% CAGR over the following ten years. The market is expected to reach a whopping US$ 20.9 billion by the end of 2032, driven by the urgent need for the creation of novel medications to tackle the global rise in various diseases.
The most recent market analysis study emphasizes how crucial biosimulation software is to maintaining this extraordinary development trajectory. The results indicate that the software sector will account for a significant amount of revenue in the biosimulation industry. Using biosimulation software is essential to improving trial efficiency and yielding better, more precise findings.
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| Report Attributes | Details |
|---|---|
| Estimated Market Value (2022E) | US$ 3.1 Billion |
| Forecasted Market Value (2032F) | US$ 20.9 Billion |
| Global Market Growth Rate (2022 to 2032) | 21.5% CAGR |
| United States Growth Rate (2022 to 2032) | ~21.6% CAGR |
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
Revenue through Drug Development to Continue Growth Axis For Global Biosimulation Industry
Pharmaceutical companies use biosimulation for drug development. During a drug, development process biosimulation helps to identify the possible effects that the drug can have on a patient. The market through the drug development segment recorded a CAGR of 16.3% during 2015-2021.
Global Biosimulation Industry: Competition Insights
- 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
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Some of the recent developments by key providers of biosimulation are as follows:
- In June 2022, Certara announced its new version of Biosimulation software for the progress of Novel Biologics. The new version includes Immunogenicity (IG), Immuno-Oncology (IO), and Vaccine simulators to understand and predict how drugs work and point out the key questions in the development of novel biologic therapies.
- In June 2022, Genedata AG announced that Syros Pharmaceuticals has chosen Genedata AG’s Genedata Profiler as its data integration and investigative platform to accelerate its translational research strategy.
- In March 2022, Advanced Chemistry labs announced that Pharmaron Inc. has chosen its NMR processing and interpretation software.
- In March 2022, Simulation Plus, Inc. released its Membrane Plus 3.0 software. The new software includes improved data handling and simulation performance for in vitro-in vivo for extrapolation (IVIVE) for permeability, skin penetration, and release assay systems.
- In February 2022, the US Food and Drug Administration (FDA) approved the license for Certara’s Immunogenicity (IG) stimulator to research and assess immunogenicity in protein-based remedies.
- In February 2022, Physiomics Plc updated a new agreement with ValiRx plc. According to the new agreement, ValiRx will be able to use Physiomics Plc’s latest version of its Virtual Tumour technology. Physiomics Plc will also help ValiRx in modeling the use of VAL201 peptide in endometriosis (VAL301) and Coronavirus (BC201).
Key Segments Covered in Global Biosimulation Industry Survey
Biosimulation Market by Product Type:
- Services
- In-house services
- Contract services
- Software
Biosimulation Market by Deployment Mode:
- Drug Development
- Drug Discovery
- Other Applications
Biosimulation Market by End-use:
- Pharmaceutical &Biotechnology Companies
- CROs
- Regulatory Authorities
- Academic Research Instituitons
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