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 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.
Global Biosimulation Market Report Snapshots
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