Biosimulation Global Market Report 2021: COVID-19 Implications And Growth

Biosimulation Global Market Report 2021: COVID-19 Implications And Growth

  • October 2021 •
  • 175 pages •
  • Report ID: 6177518 •
  • Format: PDF
Major players in the biosimulation market are Certara, Dassault Systèmes, Schrödinger Inc., Simulations Plus Inc., Rhenovia Pharma, Insilico Biotechnology AG, Genedata AG, Entelos Inc., Physiomics plc, Rosa & Co. LLC., In silico biosciences Inc., INOSIM Software, LeadInvent Technologies, Nuventra Pharma, and Archimedes.

The global biosimulation market is expected to grow from $2.71 billion in 2020 to $3.17 billion in 2021 at a compound annual growth rate (CAGR) of 17.1%. 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 2020. The market is expected to reach $5.29 billion in 2025 at a CAGR of 13.7%.

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 market 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 2020.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.

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.

In April 2020, Simulations Plus Inc., a US-based company engaged in providing simulation and modeling software for pharmaceutical development and discovery acquired Lixoft for $16.5 million. With the acquisition of Lixoft, Simulations Plus expands modeling software offerings and plans to broaden the company’s presence in Europe. Lixoft is a France-based company engaged in providing modeling and simulation software for advanced model-based drug development.

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.

According to the U.S. Centers for Medicare & Medicaid Services, US healthcare spending increased 4.6% in 2019, reaching $3.8 trillion or $11,582 per person, contributing a share of 17.7% of the nation’s GDP. Therefore, the surge in healthcare expenditure drives the growth of the biosimulation market.

The countries covered in the biosimulation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.