The Biosimulation Market is expected to reach USD 3.77
billion by 2024, according to
a new study by Grand View Research, Inc. The unprecedented global shift in the
adoption of unhealthy lifestyles is resulting in the high prevalence of chronic
diseases, such as cancer and diabetes, is expected to drive the biosimulation
market during the forecast period. In addition, the rising geriatric population
base highly susceptible to acquire the aforementioned chronic diseases result
in enhanced demand for highly efficacious pharmacological drugs. This high
requirement of efficacious drugs can be effectively met at a faster rate through
the incorporation of the in silico approach, thus creating a high potential for
biosimulation market growth opportunities in the future. Furthermore,
increasing drug resistance, high drug failure rate, and availability of limited
drugs to treat several diseasessuch as AIDS, pneumonia, tuberculosis, and
others indicate the indisputable requirement for the incorporation of
biosimulation in the drug discovery and development process. The widespread
application of the in silico approach to developing efficacious drugs would
generate drugs of greater potency in the market within a shorter span.
The increasing demand can be
attributed primarily to the significant cost reduction in the clinical trials
and drug development & discovery process. This is due to the fact that the
in silico software can predict adverse reactions, toxicity, and efficacy of the
drugsin the early stages of the drug development, thereby reducing the
probability of drug failure at the later stages and consequentially, control
the overall expenditure. These above-mentioned factors serve as key reasons
responsiblefor the heightened market demand.
Access Full Report@ http://www.grandviewresearch.com/industry-analysis/biosimulation-industry
Further key findings from
the study suggest:
- The services segment is expected to
exhibit growth at a significant CAGR of over 16.0% during the forecast
period. This is a consequence of rising inclination of the big
pharmaceutical companies to outsource their biosimulation process so as to
reduce the overall cost incurred in research and development and divert
its focus toward their core capabilities.
- The drug discovery segment is anticipated
to witness an exponential CAGR of over 15.0% in the application segment.
Associated benefits of biosimulation in drug discovery are anticipated to
fuel the demand over the forecast period. These benefits include the
elimination of potential drug failures, predict unfavorable drug
interactions, and anticipate potential risks.
- In addition to these, certain other
advantages include increased drug efficacy through the evaluation of
optimal synergistic combinations, enable study of the mechanistic actions
of drugs, and identification ofthe most suitable dosage forms, which
render the drug discovery segment a profitable zone.
- In 2015, the pharmaceutical and
biotechnology companies held a substantial share of this vertical of over
58.0% in 2015. This can be attributed to the consistent efforts of these
companies to develop better medication options at a faster and cheaper
rate through in silico biology techniques.
- Likewise, the academic research
applications are presumed to witness constant growth as a consequence of
the presence of various academic research groups that are involved in the
study of complex biological systems using computer models, such as by the
National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK).
- In 2015, North America dominated the
overall biosimulation marketat over 50.0%. The presence of regulatory
authorities, consistently inclined towards ensuring patient safety, is a
crucial factor presumed to be responsible for the dominant market share
ofthis region. Moreover, the presence of highly skilled professionals also
serves as a significant growth driver.
- The numerous collaborations amongst the
leading playersthat are being undertaken to promote the incorporation of
biosimulation systems are expected to be responsible for bolstering the
growth inthis region. For instance, Entelos, Inc. collaborated with Bayer
AG to develop novel gene-based drug targets and also with Johnson &
Johnson, Inc. to optimize clinical trial designs through in silico models.
- Some of the leading players in this
industry include Certara USA, Inc., Simulation Plus, Inc., Dassault
Systems SA, Rhenovia Pharma Ltd., and Evidera, Inc. These players are
actively involved in initiating collaborative strategies and frequent product
launches to capture a larger share of the vertical.For instance, In April
2016, Simulation Plus, Inc. launched the DDDPlus Version 5.0, invitro
dissolution experiment software. This upgraded version includes
improvements in functionalities of the software that enable scientists and
researchers to study the behavior of different pharmaceutical dosage
forms.
View all Related Reports from this Category: http://www.grandviewresearch.com/industry/healthcare-it
Grand View Research has
segmented the Bio-simulation Market on the basis of product, application, end-use
and region:
Global Biosimulation
Product Outlook (Revenue, USD Million, 2013 - 2024)
Software
Services
- In-house Services
- Contract Services
Global Biosimulation
Application Outlook (Revenue, USD Million, 2013 - 2024)
- Drug Development
- Drug Discovery
- Others
Global Biosimulation
End-use Outlook (Revenue, USD Million, 2013 - 2024)
- Pharmaceutical & Biotechnology
Companies
- CROs
- Regulatory Authorities
- Academic Research Institutions
Biosimulation Regional Outlook
(Revenue, USD Million, 2013 - 2024)
North America
- U.S.
- Canada
Europe
- UK
- Germany
Asia Pacific
- Japan
- China
- India
Latin America
- Mexico
- Brazil
MEA
- South Africa
Browse Press Release
of this Report @
http://www.grandviewresearch.com/press-release/global-biosimulation-market
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
Contact:
Sherry James
Corporate Sales
Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free:
1-888-202-9519
Email:
sales@grandviewresearch.com
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