Biosimulation Market Share, Size, Trends, Industry Analysis Report, By Product (Software, Services), By Application (Drug Development, Drug Discovery, Others), By End-Use, By Region; Segment Forecast, 2022 - 2030
- Published Date:Jan-2022
- Pages: 110
- Format: PDF
- Report ID: PM2174
- Base Year: 2021
- Historical Data: 2018-2020
Report Outlook
The global biosimulation market was valued at USD 2.48 billion in 2021 and is expected to grow at a CAGR of 15.8% during the forecast period. The growth of this market is attributed to the escalating cases of drug relapse owing to drug resistance in a range of diseases such as tuberculosis, cancer, and other bacterial infections. Also, factors such as rising investments in research and development in the biotechnology and pharmaceutical industries, growth in the adoption of biologics and biosimilars, increasing deployment of biosimulation software by the regulatory bodies, growth in the use of personalized medicine, and others further supplement the industry growth.
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For instance, as per Statista, the total spending on pharmaceutical research and development across the globe is expected to increase from USD 137 billion in 2012 to approximately USD 254 billion by 2026, thus increasing the demand for the market. Moreover, the emergence of the COVID-19 pandemic across the globe had a significant impact on the healthcare industry worldwide, including the biosimulation market. The requirement to perform the rapid test and develop a vaccine for COVID-19 accelerated the demand for biosimulation services and software across the globe, thus having a positive impact on the biosimulation market growth.
Industry Dynamics
Growth Drivers
The sudden emergence of the coronavirus pandemic is one of the key factors driving the growth of the biosimulation market across the globe. The drastic changes happening due to the COVID-19 pandemic are impacting each of the individuals across the globe. As a result, there has been an increase in the demand for vaccine development as well as its treatment methods. Due to this, the demand for the industry is further expected to increase rapidly.
Furthermore, the demand for biosimulation is expected to increase with the rise in the prevalence of chronic and infectious diseases across the globe. An increase in the incidence of such diseases would increase the need to accelerate the process of drug discovery and development for disease treatment and to provide therapeutic benefits to the patients, which is likely to boost the adoption of biosimulation software and services.
According to the American Cancer Society, new cancer cases are expected to increase from 17.0 million in 2018, across the globe, to 27.5 million new cancer cases by 2040 across the globe. This would increase the demand and adoption of biosimulation software and services in order to develop and discover drugs for cancer treatment as well as to accelerate the process.
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Report Segmentation
The market is primarily segmented on the basis of product, by application, by end-use, and region.
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By Product |
By Application |
By End-Use |
By Region |
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Insight by Product
Software segment held the largest share in the global market in 2020, owing to the availability of a range of application-specific software (such as PK/PD modeling and simulation software, molecular modeling and simulation software, toxicity prediction software, trial design software, and others) in the market that caters to requirements of specific research and development applications.
Services segment is expected to witness the fastest growth in the forecast years due to factors such as multi-layered and increasingly complex drug development systems, where the services of biosimulation services may be imperative. Hence, this is expected to be achieved via the formulation of new combination therapy that accounts to be more precise in nature.
Insight by Application
Drug development held the largest share in the global biosimulation market in 2020, owing to the government initiatives across the globe which are promoting the integration of advanced software. The drug discovery segment is expected to witness the highest CAGR during the forecast period owing to the adoption and incorporation of biosimulation in areas such as pharmaco-genetics and pharmaco-genomics.
Insight by End-Use
Pharmaceutical and biotechnology companies held the largest share in the global industry in 2020, owing to the adoption of the computer modeling approach by these companies to discover drug variants and increase the lifecycles of off-patent drugs. The CROs segment is expected to witness the highest CAGR during the forecast period owing to the increasing focus of companies to decrease the overall expenditure, enhanced flexibility, and productivity to focus on core development areas which account to be critical for company growth.
Geographic Overview
Geographically, North America is the largest revenue contributor in the global market due to factors such as the presence of the majority of key market players in the region, increasing digitization in the healthcare sector, increase in the prevalence of chronic diseases and health issues. In addition, the use of in-silico models to ensure high treatment standards and patient safety during regulatory policies enforcement is expected to contribute towards the largest market share of the North America region during the forecast period.
Additionally, countries such as the United States and Canada are experiencing a growth in the pharmaceutical and biotechnology industry through an increase in the research and development expenditure, a huge number of ongoing processes of drug development, increased usage of personalized medicine, etc. which is also expected to bolster the region’s growth.
Moreover, Asia-Pacific is expected to witness substantial growth in the global industry. An increase in the initiatives by the private and public sectors, constant up-gradation in healthcare infrastructure, increasing research and development activities in emerging economies by the industry players as well as research organizations are expected to create significant growth opportunities in the region.
In 2020, Certara (worldwide leader in biosimulation) unveiled its office in China. The major aim of this strategy was to strengthen the tie-up of the company with its consumers across China in the lucrative Chinese biopharmaceutical sector. Also, in 2020, Bioiberica Plant Health entered the Indian market with the launch of its two new biosimulation products (Equilibrium and Terra-Sorb Complex in eleven states of the country.
Competitive Insight
Some of the major players operating the global market include Advanced Chemistry Development, BioSimulation Consulting Inc, Certara, Chemical Computing Group ULC, Dassault Systems, Genedata AG, Immunetrics and PPD, Insilico Biotechnology AG, Instem Group of Companies, Physiomics Plc, Rosa & Co, Schrodinger, Simulation Plus.
Biosimulation Market Report Scope
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Report Attributes |
Details |
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Market size value in 2021 |
USD 2.48 billion |
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Revenue forecast in 2030 |
USD 8.65 billion |
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CAGR |
15.8% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2017 - 2030 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD billion and CAGR from 2022 to 2030 |
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Segments covered |
By Product, By Application, By End-Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key Companies |
Advanced Chemistry Development, BioSimulation Consulting Inc, Certara, Chemical Computing Group ULC, Dassault Systems, Genedata AG, Immunetrics and PPD, Insilico Biotechnology AG, Instem Group of Companies, Physiomics Plc, Rosa & Co, Schrodinger, Simulation Plus |
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