Biosimulation Market Share 2022 | Industry Size and Forecast 2030

According to the Market Statsville Group (MSG), the global Biosimulation Market size is expected to grow from USD 2,602.3 million in 2021 to USD 9,668.5 million by 2030, at a CAGR of 15.7% from 2022 to 2030.

Biosimulation is the computer-based simulation of biological processes. The use of biosimulation technology in drug discovery and development is widespread. It is a predictive tool used during the discovery stage to predict the outcomes of current experimental trials. The major factors driving industry growth are growing pharmaceutical, and biotech industries, encouragement by the government for investments in R&D, adaptations of novel analytical methods in clinical studies, and investments in R&D in pharmaceutical companies have been driving the global biosimulation market. The global biosimulation market is expanding due to increased pressure to reduce healthcare spending, biosimulation's affordability, rising rates of various diseases, an increase in non-patented medications, promising results from ongoing clinical trials, and increasing demand for biosimulation in therapeutic fields like oncology. Due to the failure of novel chemical entity R&D, pharmaceutical companies are attempting to identify new applications for their existing pharmaceuticals. Biosimulation technologies are used to validate the idea of using pharmaceuticals for a new indication or disease after toxicity and other critical drug safety characteristics have been established.

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COVID-19 Impact on the Global Biosimulation Market
The pandemic of COVID-19 had a significant impact on the healthcare industry, including the biosimulation market. The need for biosimulation software and services arose due to the need to test and develop COVID-19 vaccine candidates rapidly. A study published in the National Center for Biotechnology Information in April 2021 used known preclinical in vitro and in vivo datasets to conduct silico modeling using a biosimulation solution called BIOiSIM. The study aimed to speed up the repurposing and drug development of therapies used to treat pulmonary hypertension against COVID-19. The increase in similar studies indicated a positive impact on market growth, driven by rising demand for accelerated COVID-19 drug development.

Global Biosimulation Market Dynamics
Drivers: Biologics and biosimilars market expansion

The demand for biosimilars in various therapeutic applications, such as rheumatoid arthritis and blood disorders, is increasing, propelling growth in the global biosimilars market. These factors include increasing pressure to reduce healthcare costs, increased off-patent drugs, and a rising incidence of various diseases. Because there has been little success in the research and development of new chemical entities, pharmaceutical companies are attempting to find new applications for their existing drugs. As toxicity and other crucial aspects of medication safety have already been studied, the idea of employing pharmaceuticals for a new indication or condition is confirmed using biosimulation methods.

Restraints: a lack of awareness

Biosimulation utilizes a range of models, techniques, and languages to collect and process different elements of biological processes. It is challenging to create, reuse, combine, and merge various sophisticated biosimulation models since current modeling techniques do not reflect the underlying semantics of these models. The regulating organizations have not yet standardized the use of in silico or biosimulation technology in drug research or development. Recent technological advancements have increased biomedical researchers' computational power for developing and managing complex biosimulation systems. However, as the complexity of their models and simulations grows, researchers find it more difficult to share, manage, and edit their models.

The lack of scalable standards for model representation and reuse exacerbates the problem of sharing complex biomedical models. As a result, many model developers cannot share their work and build new models on top of previously coded models. This limitation of biosimulation can only be addressed by developing a principled, standards-based representation model capable of unambiguously representing biosimulation data in human and machine-interpretable ways. As a result, the biosimulation community desperately needs tools to help them build, manage, and reuse their models more efficiently.

Opportunities: Emerging applications

The biosimulation market has a lot of room to expand owing to the new applications for biosimulation in agri-food production, industrial bioprocessing, military, and nutraceuticals. Various biosimulation firms are adopting inorganic and organic growing methods to increase the applications of their software and services. The UK Ministry of Defense received an in silico drug discovery software platform from Swansea University's Institute of Life Science in May 2017 to create antimicrobials to fulfill the nation's defense and security needs. In April 2017, Certara also partnered with the Australian Department of Defense. A nationwide audit of Australia's medical countermeasures (MCM) product's capacity for research and development will be carried out by Certara's d3 medicine company.

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Scope of the Global Biosimulation Market
The study categorizes the biosimulation market based on product, application, and end-user at regional and global levels.

By Product And Services Outlook (Sales, USD Million, 2017-2030)

Software
Services
By Application Outlook (Sales, USD Million, 2017-2030)

Drug Development
Drug Discovery
Others
By End-User Outlook (Sales, USD Million, 2017-2030)

Pharmaceutical and Biotechnology Companies
Research Institutes
Contract Research Organizations
Regulatory Authorities
Other
By Region Outlook (Sales, USD Million, 2017-2030)
North America
US
Canada
Mexico
Europe
Germany
Italy
France
UK
Spain
Poland
Russia
The Netherlands
Norway
Czech Republic
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Indonesia
Malaysia
Thailand
Singapore
Australia & New Zealand
Rest of Asia Pacific
South America
Brazil
Argentina
Colombia
Rest of South America
The Middle East & Africa
Saudi Arabia
UAE
South Africa
Northern Africa
Rest of MEA
Pharmaceutical and biotechnology companies segment accounts for the highest CAGR during the forecast period by End-user

Based on the end-user, the global biosimulation market has been categorized into pharmaceutical and biotechnology companies, research institutes, contract research organizations, regulatory authorities, and others. The pharmaceutical and biotechnology companies segment is projected to account for the highest CAGR throughout the forecast period due to biosimulation solution adoption in the pharmaceutical and biotechnology industries. Additionally, growing pharmaceutical and biotechnology R&D spending is anticipated to fuel the growth, as is a rise in the use of inorganic development tactics by different biosimulation service providers.

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Asia Pacific accounts for the highest CAGR during the forecast period by Region

Based on the regions, the global biosimulation market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. During the forecast period, Asia Pacific is expected to grow at the fastest compound annual growth rate (CAGR). Growth in the pharmaceutical and biotechnological industries, a large number of active drug development processes, increased use of personalized medicine, and higher R&D expenditure by pharmaceutical and biotechnology companies are all contributing to the competitiveness of the region.

Key Market Players in the Global Biosimulation Market
The global biosimulation market is highly competitive with key industry players adopting strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most companies in the market are indulged in expanding business across regions, enhancing their capabilities, and molding strong partner relations.

Major players in the global biosimulation market are:

Simulations Plus
Certara, Inc.
Schrödinger, LLC
Dassault Systèmes
Rosa & Co., LLC
Genedata AG
Leadscope, Inc
Evidera
Advanced Chemistry Development
Insilico Biotechnology

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Market Statsville Group (MSG) partners with companies and society to confront their essential risks and challenges to capture the enormous opportunities for them. MSG initiated its work in 2017, and since then, the brand is moving to become a pioneer in business advisory and market research services.

This release was published on openPR.