Inclining Trajectory for Biosimulation in Pharmaceutical Industry Usage
The Global Biosimulation Market is estimated to reach a market size of US$5,680.595 million by the end of 2026. The market was worth US$2,333.475 million in 2019 and is anticipated to grow at a CAGR of 13.55%.
Biosimulation is a computer-aided program that facilitates mathematical simulation of varied biological processes and systems. Thus, Biosimulation plays an integral part in biological systems. The central objective behind the application of the biosimulation model is to facilitate model-based prediction of behaviour and dynamics of biological systems. The system is extensively used in pharmaceutical drug development processes to mimic the flow of diseases and then run the allied disease medicine through simulation to garner a broader understanding of the impact on the diseases and the body. Moreover, increasing investments in research and development has been an integral reason for the growth of the biosimulation market. Furthermore, the growing need for efficient drug development processes is projected to further augment the demand in the market. Additionally, the increasing urgency of producing drugs and vaccines for novel disease variants has further presented the global Biosimulation market with optimal growth opportunities over the forecasted period.
The practice of Biosimulation has grown across varied industry applications including drug and discovery applications such as pre-clinical testing of novel drugs, followed by target identification and validation. However, a lack of standardization by authorized governing bodies for the use of biosimulation technologies in drug development and discovery processes may hinder growth in the biosimulation market. Also, the shortage of labour and other allied resources in emerging countries is another factor hampering growth in the biosimulation market.
The Biosimulation method is extensively used in drug development and drug discovery processes by academic institutions and pharmaceutical agencies. Biosimulation has had a revolutionary impact in the drug development industry vertical. Biosimulation has aided in transforming pharmaceutical companies approach to precision medicine and has brought about improved decision making. In drug development processes, Biosimulation helps by getting vital information on how something behaves without testing it in real-time.
Biosimulation offers a stark contrast to historical methods of clinical drug development. During the pre-clinical development stage, modelling and simulation techniques offer a scientific approach for selecting optimal dose selection. Model-based approaches aid in making drug development decisions more predictable and reliable. Through an extensive application of biosimulation methods and techniques in drug development, it has helped in bringing safer and novel drugs to the market. Whereas, in the drug discovery segment, biosimulation methodologies help in identifying molecules with the highest efficacy and least toxicity. Overall, factors need to be managed for the identification of optimal combination therapy that requires the ability to evaluate a wide array of scenarios. Government agencies have tapped into the drug and drug discovery foray of biosimulation methodologies. Additionally, FDA has been conducting a Model-Informed Drug development program(MIDD) to facilitate the development and application of various MIDD approaches based on exposure-based, biological, and statistical models which are derived from either pre-clinical or clinical data sources.
Prominent market players in the Global Biosimulation market include Simulation Plus, Accelrys, Certara, Leadscope, Compugen, Archimedes, Schrodinger Inc., Insilico Biotehcnlogyand Genedata among others. Notable market development by these prominent entities has augmented growth in the market. For instance, Cetera announced the launch of novel versions of its Preeminent Quantitative Systems Pharmacology(QSP) simulators for hastening the development of Biologics and Immuno-oncology therapies.
The Surge in the Pharmaceuticals Segment Is Estimated to Significantly Contribute to the Growth of the Global Biosimulation Market
The pharmaceutical end-user segment accounts for a significant market share in the biosimulation market and is estimated to grow at a substantial rate over the forecasted period. The major reason contributing to a surge of biosimulation solutions in the pharmaceutical segment is the growing adoption of Silico models for the development of novel drugs in a wide array of industry segments including cancer, diabetes and central nervous system diseases. Moreover, increasing investment by pharmaceutical companies for modern biosimulation technologies and R&D activities is further augmenting growth in the biosimulation market. Additionally, rising costs associated with conducting pre-clinical trials are leading to widespread adoption of drug development and drug discovery, thereby burgeoning demand in the biosimulation market.
The North American Region Is Projected to Hold a Notable Share of the Global Biosimulation Market
The Global Biosimulation market is fragmented by varied application segments across different business verticals and industries including drug development, drug discovery, etc. Organizations have instilled various innovative techniques allied to biosimulation for the conduct of various product trials across various business verticals. Prominent market players around the world including Certara, Genedata, Simulations Plus Inc. have adopted various business strategies to sustain, grow and develop in the Global Biosimulation market owing to the rising demand in the market for varied industrial applications.
Furthermore, companies have undertaken various business strategies such as partnerships, acquisitions, mergers, and other related commercial agreements and have applied innovative technological advancements such as machine learning, artificial intelligence towards delivering unique solutions and thereby attracting more players into the market. Through such collaborative agreements and technological advancements, conglomerates and other allied businesses in the North American region have resulted in significant development of the market on the whole.
The North American region holds a prominent market share and is projected to grow over the forecasted period. The major driving factor is the growing adoption of biosimulation solutions coupled with increasing investments in research and development by Pharmaceutical and Biotechnology enterprises in the region. Furthermore, increasing the application of personalized medicines is boosting demand in the market. Supportive government policies are further propelling growth in biosimulation in the region. For instance, the US, Food and Drug Administration (FDA) staunchly supports the use of Biosimulation processes in drug development and discovery, thereby burgeoning growth in the Biosimulation market. For instance, Certara recently launched its new Secondary Intelligence Software aimed at predicting the risks of unwanted side effects that may impede the drug development process. Similarly, Compugen announced a collaboration with AstraZeneca for the development of the preclinical phase of the product.
The COVID-19 pandemic conclusively impacted the Biosimulation market worldwide. The immediate requirement for drugs that aid in curing the novel coronavirus has increased the need for technologies such as biosimulation that facilitate preclinical trials without any adverse effects. Biosimulation can mitigate risk in COVID-19 drug development while helping in accelerating the process of drug development. To ramp up the development of COVID-19 vaccines companies worldwide are taking the help of biosimulation technologies. For instance, Certera recently announced its plan for the development of its novel biosimulation platform for COVID-19 vaccine development.
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