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Global Biosimulation Market Comprehensive Study: Forecasted Market Size And Growth Rate
Biosimulation Market
The Business Research Company offers in-depth market insights through Biosimulation Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The biosimulation market size has grown rapidly in recent years. It will grow from $4.03 billion in 2023 to $4.57 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The growth in the historic period can be attributed to growing complexity of diseases, rise of in silico trials, drug development cost reduction, growing complexity of diseases, rising prevalence of chronic diseases..
The biosimulation market size is expected to see rapid growth in the next few years. It will grow to $8.08 billion in 2028 at a compound annual growth rate (CAGR) of 15.3%. The growth in the forecast period can be attributed to biosimulation in rare disease research, focus on pharmacodynamics modeling, patient stratification in clinical trials, rapid growth in biopharmaceuticals, biosimulation for drug repurposing, demand for safer and more efficacious drugs.. Major trends in the forecast period include digital r&d strategies, technological advancements in simulation software, biosimulation for biomarker identification, optimization of clinical trial design, digital biomarkers and endpoints, continuous advancements in computational biology..
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Market Segmentation:
The biosimulation market covered in this report is segmented -
1) By Product: Software, Services
2) By Application: Drug Development, Drug Discovery, Other Applications
3) By End User: Pharmaceutical And Biotechnology Companies, Contract Research Organizations (CROs), Regulatory Authorities, Academic Research Institutions, Other End Users
Major Driver - Global Healthcare Expenditure Boosts Biosimulation Market Growth
The surge in healthcare expenditure worldwide is expected to support the biosimulation market over the forecast period. Increasing healthcare spending is likely to provide more expenditure on the development of drugs which in turn, will drive the revenues generated from the biosimulation solutions. Biosimulation software is currently being used in the development of drugs to mimic diseases. With the help of the biosimulation software, virtual clinical trials can be conducted for new developing pharmaceutical drugs using computers running disease simulations. For instance, in September 2022, according to the Centers for Medicare & Medicaid Services, a US-based federal agency, spending on health care in the United States increased by 2.7% to $12,914 per person in 2021, or $4.3 trillion. Further, spending on healthcare accounted for 18.3% of the country's GDP. Therefore, the surge in healthcare expenditure drives the biosimulation market growth.
Competitive Landscape:
Major companies operating in the biosimulation market report are Certara Inc., Dassault Systèmes SE, Schrödinger Inc., Simulations Plus Inc., Rhenovia Pharma SAS, Insilico Biotechnology AG, Genedata AG, Entelos Inc., Physiomics plc, Rosa & Co. LLC., In Silico Biosciences Inc., INOSIM Software GmbH, LeadInvent Technologies Limited, Nuventra Pharma Sciences Inc., Archimedes Inc., VeriSIM Life Inc., Compugen Inc., Leadscope Inc., Pharmaceutical Product Development LLC, Advanced Chemistry Development Inc., Chemical Computing Group Inc., Immunetrics and PPD Inc., Instem India Private Limited, Evidera Inc., Biomodels LLC, PhysioStim SA, Lhasa Limited, SimBioSys Inc., Cadence Design Systems Inc., Allucent Inc.
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Top Trend - Innovations In The Biosimulation Market
Product innovation is an emerging trend in the biosimulation market. Several companies operating in the biosimulation sector are focused on developing new and advanced solutions for biosimulation. For instance, in January 2021, Insilico Biotechnology AG, a Germany-based company providing predictive solutions for the Bioeconomy launched new software called the Insilico Selector. With the help of the Insilico Selector, it is possible to use micro-scale data for the creation of an accurate selection of high-performing cell clones.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Biosimulation Market Characteristics
3. Biosimulation Market Trends And Strategies
4. Biosimulation Market - Macro Economic Scenario
5. Biosimulation Market Size And Growth
…..
27. Biosimulation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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