USD 2.81 billion
Global Biosimulation Market Size, Share, Growth Analysis, By Application(drug development, drug discovery), By End user(pharmaceutical and biotechnology companies, academic institutes and research laboratories) - Industry Forecast 2024-2031
Report ID:
SQMIG35I2104 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|
Tables:
64 |
Figures:
75
Global Biosimulation Market Insights
Global Biosimulation Market size was valued at USD 2.81 billion in 2022 and is poised to grow from USD 3.28 billion in 2023 to USD 11.46 billion by 2031, growing at a CAGR of 16.90% during the forecast period (2024-2031).
Biosimulation is a technique that simulates biological processes using computer programmes. Biosimulation has numerous applications in drug discovery and development. It is a tool for prediction, and biosimulation is used to predict the future outcomes of current experiments related to the discovery and development of new drugs.
The drug discovery and development process is costly, and the failure of a drug molecule in the late stages of drug development results in a massive waste of time, money, and other resources. As a result, there is a need for a predictive tool that will aid in predicting the future outcomes of drug development through simulation of the biological processes involved.
The biosimulation market grew significantly during the COVID-19 pandemic, owing to the importance of this technology in the study of drug development and how it interacts with the human body. As a result, biosimulation was extremely useful during the development of the COVID-19 vaccine. For example, when COVID-19 was declared a pandemic, Certara, a biosimulation technology company, began offering its services to companies developing a vaccine. As a result, the use of biosimulation was increased during the pandemic, which fueled market growth.
US Biosimulation Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
drug discovery
Fastest Growth
drug discovery
Growth Rate
16.90% CAGR
Global Biosimulation Market ($ Bn)
Country Share for North America Region (%)
Global Biosimulation Market By Application ($ Bn)
Global Biosimulation Market By Application (%)
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Global Biosimulation Market Segmental Analysis
The global biosimulation market is divided into three sections: offering type, application, and end user. The market is classified into two types of offerings: software and services. The software segment is divided into the following categories: PK/PD modelling and simulation, PBPK modelling and simulation, trial simulators, molecular modelling, and others. The Biosimulation Market is classified into three applications: drug discovery, drug development, and others. End users in the Biosimulation Market include contract research organisations, pharmaceutical and biotechnology companies, research institutes, regulatory institutes, and others. By region, the Biosimulation Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Biosimulation Market Analysis by Application
The biosimulation technology market can be divided into three categories based on applications: drug development, drug discovery, and others. The drug development segment includes preclinical testing and clinical trials, whereas the drug discovery segment includes target identification and validation, as well as lead identification and optimization. The drug development segment dominates the biosimulation technology market.
Biosimulation Market Analysis by End User
Pharmaceutical and biotechnology companies will account for more than 50.0% of total revenue in 2021. The high demand for biosimulation in these companies can be attributed to key companies' ongoing efforts to extend the life cycles of off-patent drugs and discover drug variants through computer modelling. Pharmaceutical and biotechnology companies, contract research organisations (CROs), regulatory authorities, and academic research institutions comprise the end-use segment. During the forecast period, the CROs segment is expected to grow at the fastest rate. The growing proclivity of businesses to cut overall spending is expected to drive segment growth. Other drivers include increased productivity and the ability to focus on core areas of development that are critical to a company's growth.
Global Biosimulation Market By Application, 2022 (%)
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Global Biosimulation Market Regional Insights
In 2021, North America had a revenue share of more than 45.0%. This expansion is attributed to the presence of key players, increased healthcare digitization, and the rising prevalence of chronic health issues. Furthermore, the use of in-silico models during regulatory policy enforcement to ensure high patient safety and treatment standards is contributing to regional market growth. Geographically, North America will dominate the worldwide biosimulation technology market in the years to come as a result of technical improvements, market expansion for biologics and biosimilars, high healthcare spending, and the presence of numerous pharma and biotech firms. Additionally, the U.S. Food and Drug Administration (FDA) highly suggests using simulation methods in drug research and development, hence promoting the expansion of the North American biosimulation technology market. In the global market for biosimulation technology, Europe is the region with the quickest growth. High healthcare costs and an increase in R&D activities are the main causes of the fastest growth in the region.
In the upcoming years, Asia Pacific is anticipated to see the fastest market growth. The region is predicted to experience a rapid increase in investment in the growth of the pharmaceutical and healthcare sectors. The Asia Pacific region's biosimulation market is increasing significantly due to the presence of numerous top contract research firms there as well as the expanding FDIs from leading pharmaceutical MNCs. The development of the pharmaceutical and healthcare sectors in this region is being aided by the availability of inexpensive production inputs and favourable government policies, which is anticipated to boost the expansion of the Asia Pacific biosimulation market.
Global Biosimulation Market By Region, 2024-2031
- Largest
- Fastest
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Global Biosimulation Market Dynamics
Biosimulation Market Drivers
Development of Healthcare Infrastructure to Bolster Market Growth
- The increasing pressure to lower healthcare costs, rising demand for biosimilars due to their cost-effectiveness, rising prevalence of various diseases, rising number of off-patent drugs, positive results in ongoing clinical trials, and rising demand for biosimilars in various therapeutic applications such as rheumatoid arthritis and blood disorders are some of the main factors driving growth in the global biosimilars market.
- Increasing investments in biosimulation training and education programmes, technical developments, increased focus on lowering the cost of drug discovery and development, and rising healthcare costs are some of the reasons boosting the growth of the worldwide biosimulation technology market.
Biosimulation Market Restraints
Complexity to Hinder Market Growth
- The use of biosimulation technologies in the search for new drugs and their development is not standardised. For registering and processing distinct biological events in the drug development process, biosimulation employs a variety of models and techniques. Because of the increased complexity involved with using biosimulation, it is challenging for researchers to store, alter, and share data and models. Standardization is therefore crucial for producing effective and reliable results. One of the main factors limiting the growth of the biosimulation business is the regulatory authorities' lack of standards.
- The biosimulation market was significantly impacted by the COVID-19 pandemic in the healthcare sector. The demand for biosimulation software and services was immediately driven by the need to evaluate and develop COVID-19 vaccine candidates.
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Global Biosimulation Market Competitive Landscape
To gain a larger market share, key players used competitive sustainability strategies such as product development and geographical presence expansion. Market leaders are also more likely to address unmet needs and provide economic value through consistent product upgrades.
Biosimulation Market Top Player's Company Profiles
- Certara
- Dassault Systèmes SE
- Simulations Plus Inc.
- Schrödinger Inc.
- Physiomics Plc
- Advanced Chemistry Development Inc.
- In silico biosciences Inc.
- Genedata AG
- Evidera Inc.
- Leadscope Inc.
- Insilico Biotechnology AG
- Rhenovia Pharma SAS
- Entelos Inc.
- Biocomputing Platforms Ltd.
- Rosa & Co. LLC
- Genedata AG
- OpenEye Scientific Software Inc.
- Nexelis
- Compugen Ltd.
- Chemical Computing Group ULC
Biosimulation Market Recent Developments
- In June 2022, A new version of Certara's Immunogenicity (IG), Immuno-Oncology (IO), and Vaccine Simulators was released to help forecast how medications will behave and tackle important issues in the creation of novel biologic therapeutics.
Global Biosimulation Key Market Trends
- One of the key trends driving market growth is the rising incidence of drug relapse cases due to drug resistance in diseases such as cancer, tuberculosis, and other bacterial infections.
- The market has also been impacted by the federal government's increasing financing to promote the adoption of these solutions. Additionally, the biosimulation industry is benefited by rising healthcare spending, improvements in the healthcare infrastructure, and a high need for extended care delivery.
Global Biosimulation Market SkyQuest Analysis
SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, Due to technical improvements and rising R&D expenditures in the biotechnology and pharmaceutical sectors, the worldwide biosimulation industry is expanding rapidly. There are several potential for the worldwide biosimulation technology market to grow at a large rate in the anticipated time due to the low success rate of drug approval and emerging software applications of biosimulation technology. The demand for affordable biosimulation software is being driven by the companies' new product developments and cutting-edge research and development facilities. Due to rising initiatives from the public and private sectors, as well as consistent improvements in healthcare infrastructure, Asia Pacific is expected to grow at an exponential rate during the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.81 billion |
| Market size value in 2031 | USD 11.46 billion |
| Growth Rate | 16.90% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Biosimulation Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Biosimulation Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Biosimulation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Biosimulation Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Biosimulation Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Biosimulation Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Biosimulation Market Report Snapshots
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