Product ID: SQMIG35I2104
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 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 Report Snapshots
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