San
Francisco 7 May 2019 The Report Biosimulation Market Size, Share & Trend Analysis Report By Product (Software,
Services), By Application (Drug, Development, Discovery), By End-use, By
Region, Vendor Landscape, And Segment Forecasts, 2018 - 2024
The global biosimulation market size is expected to reach USD 3.77 billion by 2024,
according to a new report by Grand View Research, Inc., registering a CAGR of
15.4% during the forecast period. Soaring need for advanced generation
therapeutics owing to growing prevalence of chronic diseases, such as cancer
and diabetes, is stoking the growth of the biosimulation market.
Moreover, widening base of geriatric
population worldwide is playing an imperative role in the growth of the market.
Aged people are highly susceptible to chronic diseases, which is augmenting the
need for highly efficacious drugs. In addition, growing number of drug
resistance cases, high drug relapse rate, and limited availability drugs to
treat diseases such as AIDS are leading to high clinical urgency for adoption
of biosimulation in applications such as drug development and drug discovery.
Surging demand for biosimulation software
and services can also be attributed to their higher cost efficiency. This cost
efficiency is a result of ability to predict toxicity, adverse reactions, and
efficacy of investigational drugs during early stages of product development,
thus limiting the probability of drug relapse & adverse events at later
stages.
Access Research Report of Biosimulation
Market@ https://www.grandviewresearch.com/industry-analysis/biosimulation-industry
Further Key Findings from the Report Suggest:
· Software accounted for the largest share of
the product segment in 2015 owing to growing adoption in personalized medicine
resulting in improved patient outcomes
· The services segment is expected to exhibit
growth at a significant CAGR as a consequence of rising inclination of the big
pharmaceutical companies to outsource their biosimulation process so as to
reduce the overall cost
· The drug discovery segment is predicted to
witness a lucrative CAGR throughout the forecast period owing to elimination of
probable drug failures and prediction of unfavorable drug interactions
· Drug development accounted for the largest
share owing to growing usage of in silico software by major pharmaceutical
& biotechnology companies for increased drug efficacy of their existing
products by identification and evaluation of optimal synergistic combinations
& dosage forms
· In 2015, the pharmaceutical and biotechnology
companies held a substantial share owing to growing efforts to develop better
treatment options at a cheaper and faster rate through in silico biology models
· Academic research institutes are
anticipated to grow at consistent rate owing to presence of various academic
research groups involved in complex biological systems studies that use
computer models, such as by the National Institute of Diabetes and Digestive
and Kidney Diseases (NIDDK)
· In 2015, North America accounted for
majority share of overall market as a result of increased usage of in silico
models by regulatory authorities to ensure patient safety
· Asia Pacific is predicted to spearhead the
market as a consequence of increasing outsourcing research activities across
this region
· Key players are deploying collaborative
strategies and expansion of product portfolio to capture a large share. For
instance, in April 2016, Simulation Plus, Inc. introduced DDDPlus Version 5.0,
an in-vitro dissolution experiment software that helps researchers in study of
different drug dosage forms
Browse more reports of this category by Grand View
Research at: https://www.grandviewresearch.com/industry/healthcare-it
Grand View Research has
segmented the global biosimulation market report on the basis of product,
application, end-use, and region:
Biosimulation Product Outlook (Revenue, USD
Million, 2013 - 2024)
·
Software
·
Services
Biosimulation Application Outlook (Revenue, USD Million,
2013 - 2024)
·
Drug Development
·
Drug Discovery
·
Others
Biosimulation End-use Outlook (Revenue, USD
Million, 2013 - 2024)
·
Pharmaceutical & Biotechnology
Companies
·
Contract Research Organizations (CROs)
·
Regulatory Authorities
·
Academic Research Institutes
Biosimulation Regional Outlook (Revenue,
USD Million, 2013 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
Middle East & Africa
·
Latin America
Access Press Release of
Biosimulation Market@ https://www.grandviewresearch.com/press-release/global-biosimulation-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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