Healthcare Biosimulation Market is projected to grow up to 15.3% CAGR during the forecasting period 2...

Biosimulation Market is projected to grow up to 15.3% CAGR during the forecasting period 2021-2027.

Biosimulation is a technique that involves simulating biological processes using computer programmes. In the field of drug discovery and production, biosimulation has a broad range of applications. It's a prediction tool, and biosimulation is used to forecast the outcomes of current studies in the discovery and production of new drugs. The process of drug discovery and production is expensive, and a drug molecule failure in the late stages of development results in a substantial loss of time, money, and other resources. As a consequence, a predictive tool is needed to help in the prediction of potential drug development outcomes by simulation of the biological processes involved.

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Key Driving Factors:Growth in the biologics and biosimilars market is a driving force.

Factors driving growth in the global biosimilars market include increasing pressure to cut healthcare spending, rising demand for biosimilars due to their cost-effectiveness, rising incidence of various diseases, increasing number of off-patented drugs, positive results in ongoing clinical trials, and rising demand for biosimilars in various therapeutic applications such as oncology. Pharmaceutical firms are attempting to find new uses for their current products due to the lack of progress in the R&D of new chemical organisations. Biosimulation methods are used to validate the idea of using the drugs for a new indication or disease, since toxicity and other important criteria of drug safety have already been checked.

This report offers the major market player’s profiles, such as Certara, Simulation Plus, Dassault Systèmes, Schrödinger, Advanced Chemistry Development, Chemical Computing Group, Rosa, Physiomics, Evidera, In Silico Biosciences, Leadinvent Technologies, Inosim Software, Nuventra Pharma, Accelrys, Entelos, Physiomics, Rhenovia, Insilico Biotechnology, LeadScope, Genedata, Archimedes, Compugen among others.

Opportunities:Emerging apps are an opportunity.

Biosimulation's emerging applications in security, industrial bioprocessing, nutraceuticals, and agri-food production offer significant growth opportunities for the global biosimulation industry. To extend the applications of their biosimulation software and services, various biosimulation companies are using both inorganic and organic growth strategies. In May 2017, Swansea University's Institute of Life Science provided the UK Ministry of Defense with an in silico drug discovery software platform for the production of antimicrobials to meet the country's defence and security needs.

By End User:

Research institutes, pharmaceutical and biotechnology companies, contract research organisations (CROs), regulatory authorities, and other end users make up the biosimulation industry (consulting firms, defence research and development organizations, nutraceutical companies, and food and agricultural companies). Pharmaceutical and biotechnology firms are expected to account for the largest share of the market in 2020, with the highest CAGR over the forecast period. Increased pharmaceutical and biotechnology R&D budgets, as well as increased adoption of inorganic growth strategies by various biosimulation service providers, are expected to fuel biosimulation solutions adoption in the pharmaceutical and biotechnology industries.

The Biosimulation Market report has been categorized as below

By Product & Service

●   Software

o   Molecular Modeling and Simulation Software

o   PBPK Modeling and Simulation Software

o   PK/PD Modeling and Simulation Software

o   Trial Design Software

o   Toxicity Prediction Software

o   Other Biosimulation Software

●    Services

o   In-house Services

o   Contract Services

By Application

●    Drug Development

o    Preclinical Testing

▪     PK/PD

▪     ADME/TOX

o   Clinical Trials

●    Drug Discovery    

o   Target Identification and Validation

o   Lead Identification and Optimization

●   Other Applications              

By Delivery Model

●   Subscription Models

●   Ownership Models

By End User

●       Pharmaceutical and Biotechnology Companies

●       Research Institutes

●       Contract Research Organizations

●       Regulatory Authorities

●       Other End Users

By Region

●      North America

●      Europe

●      Asia Pacific

●      Rest of World

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Published Date : April-2021