Biosimulation is used in the healthcare sector for model-based calculation of biological systems. It is helpful in making commercial decisions regarding the benefits of bringing a specific drug to market. In 2022, the market for biosimulation is expected to reach US$3,435 million, increasing from US$1,476 million in 2017, at a CAGR of 18.40%. Factors driving the biosimulation market growth are increased medical research and development across emerging economies, technological advancement in drug development processes, robust pace of clinical trials and a favorable regulatory environment in developed regions like the US and Europe. Rising demand for reduced drug development costs coupled with penetration of digital and computer technology and improvement in modeling tools has fuelled further market growth. Geographically, North America is the expected to remain the largest biosimulation market over the projected period followed by Europe.
The first section of the report deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.
Next section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook, key industry and regional regulations which are determining the product specifications and a brief technological aspect of Biosimulation. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
The Biosimulation market has been segmented by type, applications, end-user industry and geography.
By End-User Industry:
Europe Middle East & Africa
The Middle East & Africa
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players in the Biosimulation market are Certara USA, Inc., Advanced Chemistry Development, Inc., Schrodinger, LLC and Simulations Plus among others.