Newark, NJ, May 12, 2022 (GLOBE NEWSWIRE) -- As per the report published by Market Research Place, the global biosimulation market is expected to grow from USD 2023.05 million in 2021 to USD 6,111.29 million by 2030, at a CAGR of 13.07% during the forecast period 2022-2030.
Biosimulation is a web framework that provides basic user interface components common to many simulators, such as a textual model editor with syntax highlighting and a plot to display the results of time course simulation. Biosimulation assists in identifying compounds with the highest efficacy and the least toxicity during therapeutic development. The process is used to build prospective therapeutic compounds, as it helps look into off-target consequences. Pharmaceutical firms, academic institutions, and regulatory authorities all use Biosimulation. The pharmaceutical industry uses this tool throughout the medication development process. Biosimulation technology is also utilized in clinical development to minimize toxicity and potential drug-drug interactions (DDIs). Sponsors use Biosimulation technologies to mimic various clinical trial designs to improve trial outcomes.
Competitive Strategy
To enhance their market position in the global biosimulation market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
- In December 2021, Certera announced FDA renewal and expansion of its Biosimulation Software for reviewing the regulatory submissions. Therefore in total, 12 divisions and offices of the FDA that are using Certara’s software for internal research and for independently analyzing, verifying, and reviewing regulatory submissions.
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Market Growth & Trends
Key players in the biosimulation market are actively planning to gain higher market shares witnessing higher demand from end-user industries. Based on strategies, companies actively participate in geography expansions, acquisitions, and collaborations to expand and sustain the global biosimulation market. Some of the regional key players in the biosimulation market focus on entering long-term associations with local research centers and pharmaceutical & biotechnology industries to ensure continuous revenue flow. In addition to this, companies are adopting vertical integration to gain a competitive advantage in the biosimulation market. Furthermore, market participants are focusing on product innovations and developing more efficient biosimulation platforms which can be used in high-end research applications. The key vendors focus on diversifying their portfolios by developing products with added benefits.
Key Findings
- In 2021, the drug development segment dominated the market with the largest market share of around 68% and market revenue of about 1,300 million.
The type segment is divided into drug development and drug discovery. In 2021, the drug development segment dominated the market with the largest market share of around 68% and market revenue near 1,300 million. All activities involved in the transition of molecule from drug candidate to the product licensed for marketing by the regulatory bodies are included in drug development. The identification of new molecular entities which could be helpful in the treatment of diseases and to qualify the unmet requirement is the main objective of drug development programs. These diseases have no established treatments and are either life-threatening or have the potential to be life-threatening.
- In 2021, the pharmaceutical and biotechnology companies segment accounted for the largest share of the market, with around 55.5% and market revenue of around 1,086 million.
The application segment is divided into pharmaceutical and biotechnology companies, academic and government research institutes, contract research organizations, regulatory authorities, and others. In 2021, the pharmaceutical and biotechnology companies accounted for the largest share of the market, with around 55.5% and market revenue of around 1,086 million. The use of biosimulation is necessary for pharmaceutical companies to ensure the quality of drugs. The use of high-quality water and active agents should be monitored thoroughly as the quality of finished products should meet the standard of the prescribed guidelines. Thus, the pharmaceutical and biotechnology companies invest in research and development in biosimulation technologies to gain a higher market share.
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Regional Segment Analysis of the Biosimulation Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, North America emerged as the largest market for the global biosimulation market, with a market share of around 34% and 665 million of the market revenue in 2021. The market for biosimulation in the North America region has been rising owing to prominent market players. These players invest more in R&D. This offers lucrative growth opportunities for biosimulation in the region.
Key players operating in the global biosimulation market are:
- Certara
- Simulation Plus
- Dassault Systèmes SA
- Medtronic
- Advanced Chemistry Development
- Chemical Computing Group
- Entelos Holding Corporation
- Genedata AG
- Physiomics PLC
- Rhenovia Pharma
This study forecasts revenue at global, regional, and country levels from 2022 to 2030. Market research place has segmented the global biosimulation market based on the below-mentioned segments:
Global Biosimulation Market by Type:
- Drug Development
- Drug Discovery
Global Biosimulation Market by Application:
- Pharmaceutical and Biotechnology Companies
- Academic and Government Research Institutes
- Contract Research Organizations
- Regulatory Authorities
- Others
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About the report:
The global biosimulation market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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