Biosimulation Market to Reach a Capital Expenditure of USD 10.1 in 2032 | CAGR of 13.7%

New York, April 25, 2023 (GLOBE NEWSWIRE) — As per the latest finding of Market.us, Biosimulation Market Revenue is expected to be USD 2.9 by the end of 2022. In the long term, the market is estimated to reach around USD 10.1 in 2032, expanding at a compound annual growth rate (CAGR) of 13.7% from 2022 to 2032. Biosimulation refers to a technique in which computer programs are used to simulate biological processes. Biosimulation has numerous uses in drug discovery and new drug development. In addition, a biosimulation is a tool for prediction, and it is used to predict the future outcomes of current drug discovery & development experiments.

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Key Takeaway:

• By Component, the software segment generated the highest revenue share in 2022.
• By Application, the drug development segment has dominated the market and is growing at the highest CAGR from 2023 to 2032.
• By Delivery Mode, the ownership models segment is expected to dominate the market.
• By End-User, the pharmaceutical and biotechnology companies segment held the largest share of the market.
• In 2022, North America dominated the market with the highest revenue share of 46%.
• Asia-Pacific will grow at a significant revenue share of 21.2% from 2023-2032.

Drug discovery and development are expensive, and a drug molecule failure in the late stages wastes time, money, and other resources. Hence, to help predict future outcomes is needed a predictive tool that can simulate the biological processes involved in drug development. This will propel the growth of the global biosimulation market. The market for biosimulation is also being maintained by the rising healthcare costs, the creation of advanced software, and upgraded simulation-related technology.

Factors affecting the growth of the biosimulation market

There are several factors that can affect the growth of the global biosimulation market. Some of these factors include:

• A Rise in R&D Investments: The rise in R&D investments boosts the market’s growth.
• Reduction in Development Costs: The reduction in development costs will propel the market’s growth.
• Increased Use of Personalized Medicine: The increased use of personalized medicine will likely surge the market.
• The Presence of Key Players: The presence of key players leads to market expansion.
• Rising Rates of Chronic Health Conditions: The rising rates of chronic health conditions will accelerate market growth.

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Top Trends in Global Biosimulation Market

The increasing prevalence of acute and chronic diseases will increase the need for drug discovery and development, leading to the allocation of funds for R&D activities. This will accelerate the adoption of biosimulation solutions. Additionally, the cost of the clinical trials increases due to high drug attrition, which will drive the clinical urgency to include in silico biology approach. However, with this approach, the chances of drug failure will decrease by biological interaction predictions so that the overall costs will decrease automatically.

Market Growth

The market’s growth is attributed to the factors such as growth in the use of personalized medicine, the rising deployment of biosimulation software by the regulatory bodies, progress in adopting biosimilars and biologics, increasing R&D in the pharmaceutical and biotechnological industries, and others.

Regional Analysis

North America accounted for the largest revenue share of over 46.0% of the overall market. The presence of key players, the increasing digitization in the healthcare industry, and rising rates of chronic health conditions are all attributed to this growth. Also, the regional market is growing as in-silico models are used to enforce regulatory policies to guarantee high standards for patient treatment and safety.

Asia Pacific is estimated to experience exponential growth over the forecast period due to increasing initiatives by the private and public sectors along with the consistent improvement of healthcare infrastructure. Moreover, the region benefits greatly from the burgeoning R&D activities in developing economies.

Competitive Landscape

Major market players used competitive strategies like expanding their geographical presence and product development to increase their market share. However, market leaders also focus on satisfying unmet needs and creating economic value through regular product improvements. For instance, Simulation Plus modified the GastroPlus Advanced Compartmental Absorption and Transit (ACAT) model in collaboration with a pharmaceutical company to support ongoing programs for treating gastrointestinal diseases.

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Scope of the Report

Market Drivers

The biosimulation market is projected to grow during the forecast period owing to the technologically advanced QSP systems, upsurge in R&D investments in the pharmaceutical and biotechnology industries, and regulatory bodies’ increased use of biosimulation software. In addition, the biosimulation market is projected to be propelled by the need to reduce drug discovery and development costs and the expansion of the biologics and biosimilar markets. The market has been further influenced by the increased funding provided by the federal government to encourage the use of these solutions. Furthermore, the biosimulation market also benefits from advancements in healthcare infrastructure, rising healthcare spending, and strong demand for expanded care delivery.

Market Restraints

The lack of standardization is also anticipated to restrain growth in the biosimulation market over the forecast period. Furthermore, the shortage of biosimulation and modeling experts due to the difficulty of matching the complexity of biological systems and processes may present additional obstacles to expanding the biosimulation market during the forecast period.

Market Opportunities

The biosimulation market will have opportunities to grow during the forecast period because of the increasing use of biosimulation solutions and personalized medicine to expand pediatric drugs. In addition, the growing fields of defense, agri-food production, industrial bioprocessing, nutraceuticals, and biosimulation present significant growth opportunities for the global biosimulation market. Several biosimulation companies are utilizing both organic and inorganic growth strategies to expand the applications of their biosimulation software and services.

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Report Segmentation of the Biosimulation Market

Component Analysis

The software sector dominated the market with the highest revenue share owing to many application-specific software products that meet specific needs for research and development. For instance, Software developed by Rhenovia Pharma simulates the mechanism of CNS-specific drugs.

Application Insight

Drug development held the largest share of the market. The segment is growing due to increasing government initiatives, and it encourages the use of advanced software. The FDA’s critical path initiative report suggests that this strategy can be incorporated as an effective predictive tool and emphasizes its significance for drug development.

Delivery Mode Insight

The biosimulation market is segmented into ownership models and subscription models. The market is expected to be dominated by ownership models during the forecast period. The primary factor responsible for the segment’s expansion is that buyers primarily select these delivery models for their security advantages.

End-User Insight

Pharmaceutical and biotechnology companies had the highest revenue share in the market. This is because the key companies are undertaking constant efforts to extend the lifecycles of discovering drug variants and off-patent drugs with the help of computer modeling; this can be credited to the strong demand for biosimulation in these businesses.

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Market Segmentation

By Product

By Application

By End-Use

• CROs
• Pharmaceutical & Biotechnology Companies
• Academic Research Institutions
• Regulatory Authorities

By Geography

• North America
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Market Key Players:

• Certara, USA
• BioSimulation Consulting Inc.
• Dassault Systemes
• Simulation Plus
• Advanced Chemistry Development
• Chemical Computing Group ULC
• Schrodinger Inc.
• Physiomics Plc
• Other Key Players

Recent Development of the Biosimulation Market

• In June 2022- Certara released a new version of its Biosimulation software to advance novel biologics. Immuno-Oncology, Immunogenicity, and Vaccine simulators are included in the new version to help people predict and comprehend how drugs work and identify the most important questions regarding the creation of novel biologic therapies.
• In March 2022- Simulation Plus, Inc. released the software known as Membrane Plus 3.0 for skin penetration, permeability, and release assay systems; the new software has improved simulation performance and data handling for in vitro-in vivo extrapolation (IVIVE).

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