Biosimulation Market Booming: Set to Reach US$20.9 Billion by 2032, Fueled by Drug Discovery Advancements

Posted on 2024-06-21 by Future Market Insights in Healthcare, Pharmaceuticals // 0 Comments

Biosimulation Market

The Biosimulation Market is poised for explosive growth, according to a recent market survey by Future Market Insights (FMI), a leading market research firm. The market, valued at US$2.6 billion in 2021, is projected to skyrocket to a staggering US$20.9 billion by 2032, reflecting a Compound Annual Growth Rate (CAGR) of over 10%. This remarkable growth is attributed to the increasing significance of biosimulation in drug discovery and development.

As per the findings of the report, biosimulation software will remain pivotal for the market, as the bulk of revenue will be generated through this category. Software biosimulation will provide better and more efficient results for the trials and there is a variety of software available for specific research and application purposes. The revenue from the software segment grew at a CAGR of 14.3% from 2015-2021.

North America holds the largest market for biosimulation. The rising chronic disease among the population in the region and regulations implemented by the governments for patient safety and treatment standards is driving the demand for biosimulation in the region

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Revenue through Drug Development to Continue growth Axis For Biosimulation Market

Pharmaceutical companies use biosimulation for drug development. During a drug, development process biosimulation helps to identify the possible effects that the drug can have on a patient. The market through the drug development segment recorded a CAGR of 16.3% during 2015-2021.

Biosimulation Market: Competition Insights

Certara
Dassault Systemes
Advanced Chemistry Development
Simulation Plus Inc
Schrodinger, Inc.
Chemical Computing Group
Physiomics Plc
Rosa & Co. LLC
BioSimulation Consulting Inc.
Genedata AG
Instem Group of Companies
PPD, Inc.
Insilico Biotechnology AG
Rhenovia Pharma
LeadInvent Technologies
Nuventra Pharma
In Silico Biosciences

Some of the recent developments by key providers of biosimulation are as follows:

In June 2022, Certara announced its new version of Biosimulation software for the progress of Novel Biologics. The new version includes Immunogenicity (IG), Immuno-Oncology (IO), and Vaccine simulators to understand and predict how drugs work and point out the key questions in the development of novel biologic therapies.
In June 2022, Genedata AG announced that Syros Pharmaceuticals has chosen Genedata AG’s Genedata Profiler as its data integration and investigative platform to accelerate its translational research strategy.
In March 2022, Advanced Chemistry labs announced that Pharmaron Inc. has chosen its NMR processing and interpretation software.
In March 2022, Simulation Plus, Inc. released its Membrane Plus 3.0 software. The new software includes improved data handling and simulation performance for in vitro-in vivo for extrapolation (IVIVE) for permeability, skin penetration, and release assay systems.
In February 2022, the US Food and Drug Administration (FDA) approved the license for Certara’s Immunogenicity (IG) stimulator to research and assess immunogenicity in protein-based remedies.
In February 2022, Physiomics Plc updated a new agreement with ValiRx plc. According to the new agreement, ValiRx will be able to use Physiomics Plc’s latest version of its Virtual Tumour technology. Physiomics Plc will also help ValiRx in modeling the use of VAL201 peptide in endometriosis (VAL301) and Coronavirus (BC201).

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Key Segments Covered in Biosimulation Industry Survey

Biosimulation Market by Product Type:

Services
- In-house services
- Contract services
Software

Biosimulation Market by Deployment Mode:

Drug Development
Drug Discovery
Other Applications

Biosimulation Market by End-use:

Pharmaceutical &Biotechnology Companies
CROs
Regulatory Authorities
Academic Research Instituitons

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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