Biosimulation Market Outlook Report 2024-2033 | Size, Trends, Analysis, Insights, Overview

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033.

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According to The Business Research Company’s Biosimulation, The biosimulation market size has grown rapidly in recent years. It will grow from <b>$4.03 billion in 2023 to $4.57 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. </b> The  growth in the historic period can be attributed to growing complexity of diseases, rise of in silico trials, drug development cost reduction, growing complexity of diseases, rising prevalence of chronic diseases..

The biosimulation market size is expected to see rapid growth in the next few years. It will grow to <b>$8.08 billion in 2028 at a compound annual growth rate (CAGR) of 15.3%. </b> The growth in the forecast period can be attributed to biosimulation in rare disease research, focus on pharmacodynamics modeling, patient stratification in clinical trials, rapid growth in biopharmaceuticals, biosimulation for drug repurposing, demand for safer and more efficacious drugs..

Major trends in the forecast period include digital r&d strategies, technological advancements in simulation software, biosimulation for biomarker identification, optimization of clinical trial design, digital biomarkers and endpoints, continuous advancements in computational biology..The surge in healthcare expenditure worldwide is expected to support the 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. For instance, in September 2022, according to the Centers for Medicare & Medicaid Services, a US-based federal agency, spending on health care in the United States increased by 2.7% to $12,914 per person in 2021, or $4.3 trillion. Further, spending on healthcare accounted for 18.3% of the country’s GDP.   Therefore, the surge in healthcare expenditure drives the biosimulation market growth.

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The biosimulation market covered in this report is segmented –

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

Top Major Players:
Certara Inc
Dassault Systèmes SE
Schrödinger Inc
Simulations Plus Inc
Rhenovia Pharma SAS

North America was the largest region in the biosimulation market in 2023.

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

.The biosimulation market report table of contents includes:

1. Executive Summary
2. Biosimulation Market Characteristics
3. Biosimulation Market Trends And Strategies
4. Biosimulation Market – Macro Economic Scenario
5.Global Biosimulation Market Size and Growth
….………..
31. Global Biosimulation Market Competitive Benchmarking
32. Global Biosimulation Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Biosimulation Market
34.Biosimulation Market Future Outlook and Potential Analysis
35.Appendix

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