DUBLIN, Aug. 26, 2022 /PRNewswire/ -- The "Biosimulation Global Market Report 2022, By Product, Application, End User" report has been added to ResearchAndMarkets.com's offering.
The global biosimulation market is expected to grow from $3.17 billion in 2021 to $3.64 billion in 2022 at a compound annual growth rate (CAGR) of 15.0%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $6.13 billion in 2026 at a CAGR of 13.9%.
The biosimulation market consists of sales of biosimulation software and services by entities (organizations, sole traders, and partnerships) that are engaged in garnering a better understanding of biological processes using computer simulations. Biosimulation is a mathematical simulation process that uses computers to replicate biological processes and systems. The aim of biosimulation is a model-based prediction of the dynamics and behavior of biological systems.
The main types of products in the biosimulation are software and services. The biosimulation software provides software for molecular modeling and simulation, pharmacokinetic/pharmacodynamic (PK/PD) modeling and simulation, toxicity prediction software, physiologically based pharmacokinetic modeling, and simulation (PBPK) modeling and simulation, trial design software, and others. It is used in drug development, drug discovery, and others and implemented in various verticals such as pharmaceutical and biotechnology companies, contract research organizations (CROs), regulatory authorities, academic research institutions, others.
North America was the largest region in the biosimulation market in 2021. The Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and AfricaMiddle East, and Africa.
The surge in healthcare expenditure worldwide is expected to support the growth of biosimulation market over the forecast period. Increasing healthcare spending is likely to provide more expenditure on the development of drugs which in turn, will drive the revenues generated from the biosimulation solutions. Biosimulation software is currently being used in the development of drugs to mimic diseases. With the help of the biosimulation software, virtual clinical trials can be conducted for new developing pharmaceutical drugs using computers running disease simulations. According to the U.S. Centers for Medicare & Medicaid Services, US healthcare spending increased 9.7% in 2020, reaching $4.1 trillion or $12,530 per person, contributing a share of 19.7% of the nation's GDP. Therefore, the surge in healthcare expenditure drives the growth of the biosimulation market.
Product innovation is an emerging trend in the biosimulation market. Several companies operating in the biosimulation sector are focused on developing new and advanced solutions for biosimulation. For instance, in January 2021, Insilico Biotechnology AG, a Germany-based company providing predictive solutions for the Bioeconomy launched new software called the Insilico Selector. With the help of the Insilico Selector, it is possible to use micro-scale data for the creation of an accurate selection of high-performing cell clones.
1) By Product: Software; Services
2) By Application: Drug Development; Drug Discovery; Others
3) By End User: Pharmaceutical And Biotechnology Companies; Contract Research Organizations (CROs); Regulatory Authorities; Academic Research Institutions; Others
Key Topics Covered:
1. Executive Summary
2. Biosimulation Market Characteristics
3. Biosimulation Market Trends And Strategies
4. Impact Of COVID-19 On Biosimulation
5. Biosimulation Market Size And Growth
6. Biosimulation Market Segmentation
7. Biosimulation Market Regional And Country Analysis
8. Asia-Pacific Biosimulation Market
9. China Biosimulation Market
10. India Biosimulation Market
11. Japan Biosimulation Market
12. Australia Biosimulation Market
13. Indonesia Biosimulation Market
14. South Korea Biosimulation Market
15. Western Europe Biosimulation Market
16. UK Biosimulation Market
17. Germany Biosimulation Market
18. France Biosimulation Market
19. Eastern Europe Biosimulation Market
20. Russia Biosimulation Market
21. North America Biosimulation Market
22. USA Biosimulation Market
23. South America Biosimulation Market
24. Brazil Biosimulation Market
25. Middle East Biosimulation Market
26. Africa Biosimulation Market
27. Biosimulation Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Biosimulation Market
29. Biosimulation Market Future Outlook and Potential Analysis
Simulations Plus Inc.
Insilico Biotechnology AG
Rosa & Co. LLC.
In silico biosciences
For more information about this report visit https://www.researchandmarkets.com/r/3g8vkf
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