How Has The Market Size For Biosimulation Evolved And What Is Its Future Growth Projection?
The biosimulation market’s rapid growth in recent years is noteworthy. The market value, which stood at $4.47 billion in 2024, is projected to reach a staggering $5.02 billion in 2025, registering a compound annual growth rate (CAGR) of 12.2%. The unprecedented growth during the historic period can be attributed to the rising complexity of diseases, increasing prevalence of in silico trials, and efforts to reduce drug development cost.
Furthermore, the biosimulation market size is expected to witness brisk growth over the coming years, reaching an estimated value of $9.65 billion by 2029 – a substantial increase propelled by a CAGR of 17.8%. The forecasted period growth is largely due to the application of biosimulation in rare disease research, the focus on pharmacodynamics modeling, patient stratification in clinical trials and steady surge in biopharmaceuticals, alongside the demand for safer and more efficacious drugs.
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What Are The Major Growth Drivers Of The Biosimulation Market?
The global surge in healthcare expenditure is a significant growth driver for the biosimulation market. As healthcare spending increases, more funds are likely to be allocated towards drug development, consequently driving the demand for biosimulation solutions. The biosimulation software, currently being used to simulate diseases for drug development, allows for virtual clinical trials using computer-run disease simulations. According to the American Medical Association, U.S. health spending grew by 4.1% in 2022, touching $4.5 trillion, or $13,493 per person, thus, propelling the growth of the biosimulation market.
Which Segments Are Covered In This Biosimulation Market Report?
The biosimulation market covered in this report includes:
1) By Product: Software, Services
2) By Application: Drug Development, Drug Discovery, Other Applications
3) By End User: Pharmaceutical And Biotechnology Companies, Contract Research Organizations (CROs), Regulatory Authorities, Academic Research Institutions, Other End Users
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Who Are The Major Players In The Biosimulation Market?
The major players transforming the biosimulation market landscape include Certara Inc., Dassault Systèmes SE, Schrödinger Inc., Simulations Plus Inc., Rhenovia Pharma SAS, Insilico Biotechnology AG, Genedata AG, Entelos Inc., Physiomics plc, Rosa & Co. LLC., and many others.
What Are The Emerging Trends In The Biosimulation Market?
Product innovation is a significant trend emerging in the biosimulation market, with numerous companies focused on developing innovative solutions. An example of this is Certara, Inc. launching their new Phoenix™ Biosimulation Software in June 2023, designed to enable advanced pharmacokinetic and pharmacodynamic modeling for improved drug development efficiency and cost reduction.
Which Region Holds The Largest Market Share In The Biosimulation Market?
In 2024, North America held the highest market share in the biosimulation market, while Asia-Pacific is predicted to witness the fastest growth over the forecast period.
What Does The Biosimulation Market Report 2025 Offer?
The biosimulation process enables mathematical simulation that replicates biological processes and systems with the motive to predict the behaviors of biological entities. The Biosimulation Market research report from The Business Research Company provides robust global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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