Dublin, Dec. 12, 2024 (GLOBE NEWSWIRE) — The “Biosimulation Market Forecast to 2029” report has been added to ResearchAndMarkets.com’s offering.
The biosimulation market is projected to reach USD 9.18 billion by 2029 from USD 4.24 billion in 2024, rising at a CAGR of 16.7% from 2024 to 2029.
The increasing need for cost and time reduction in the drug development process has been one of the major drivers in the adoption of biosimulation tools. But there are some restraining factors in the market; the cost of biosimulation technologies is discouragingly high and thus, prohibitive to small companies and the academic community.
Drug Discovery held the largest market share in the biosimulation market in 2023, by application
The drug discovery segment held the largest market share since it plays a vital role in accelerating and enriching early stages of pharmaceutical research. The tool created by biosimulation makes it possible for the researchers to simulate drug behavior at the molecular level, predict biological target interaction, even identify potential drug candidates before they reach the costly phases of preclinical and clinical trial stages. It reduces both the time and the cost incurred during the process of drug development.
By deployment model, the cloud-based model segment is expected to register the fastest growth over the forecast period
Cloud-based platforms are much more flexible and scalable and make very significant computational resources available at the point when they are needed to run complex biosimulations. This flexibility makes cloud models highly cost-effective, particularly for smaller biotech firms and academic institutions that would lack the infrastructure for high-performance computing.
Asia Pacific is estimated to register the highest CAGR over the forecast period
The growth of this region is due to an aggressive build-out of the pharmaceutical and biotechnology industry in this region, especially in China, India, and South Korea, where large investments are committed to drug discovery and development. Markets in this region increasingly embrace sophisticated technology, such as biosimulation, to rationalize their R&D processes, reduce costs, and accelerate their time-to-market for new drugs.
Research Coverage
This research report categorizes the biosimulation market by offerings (software and services), application (drug discovery, drug development, disease modelling, manufacturing & supply chain and other applications), therapeutic area (oncology, cardiovascular disease, neurological disorders, infectious disease, and others), revenue model (license-based model, subscription-based model, service-based model, and pay-per-use model), deployment model (on-premises model, cloud-based model, and hybrid model) end user (pharmaceutical & biotechnology companies, contract research organizations (CROs), academic & research institutions, regulatory bodies and others), and region.
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the biosimulation market. A thorough analysis of the key industry players has been done to provide insights into their business overview, offerings, and key strategies such as acquisitions, collaborations, partnerships, mergers, product/service launches & enhancements, and approvals in the biosimulation market. Competitive analysis of upcoming startups in the biosimulation market ecosystem is covered in this report.
List of Companies Profiled in the Report:
- Certara USA (US)
- Simulations Plus (US)
- Dassault Systemes (France)
- Schrodinger, Inc. (US)
- Advanced Chemistry Development, Inc. (Canada)
- Chemical Computing Group ULC (Canada)
- Rosa & Co. LLC. (US)
- Genedata AG (US)
- Physiomics PLC (United Kingdom)
- In Silico Biosciences. (US)
- Allucent. (US)
- OpenEye, Cadence Molecular Sciences. (US)
- Cellworks Group, Inc. (US)
- VeriSIM Life (US)
- Netabolics SRL (Italy)
- Charnwood Discovery (United Kingdom)
- The MathWorks, Inc. (US)
- ANSYS, Inc. (US)
- Instem Group of Companies (United Kingdom)
- Insilico Medicine (US)
- SCM – Software Chemistry & Materials (Netherlands)
- BioSymetrics, Inc. (Canada)
- Atomwise Inc. (US)
- insitro US)
- Clinithink (US)
Key Attributes
| Report Attribute | Details |
| No. of Pages | 378 |
| Forecast Period | 2024 – 2029 |
| Estimated Market Value (USD) in 2024 | $4.24 Billion |
| Forecasted Market Value (USD) by 2029 | $9.18 Billion |
| Compound Annual Growth Rate | 16.7% |
| Regions Covered | Global |
Case Study Analysis
- Case Study 1: Optimizing Asciminib Development Through Advanced PBPK Modeling
- Case Study 2: Computational Discovery of Selective WEE1 Inhibitors for Cancer
- Case Study 3: Efficient Clinical Trial Utilizing Scale Management Expertise
Market Dynamics
- Drivers
- Increasing R&D Investments in Pharmaceutical and Biotechnology Industries
- Growing Adoption of Biosimulation Software by Regulatory Bodies
- Integration of Technologically Advanced Quantitative Systems Pharmacology (QSP)
- Need to Curtail Drug Discovery and Development Costs
- Growth in Biologics and Biosimilars Markets
- Restraints
- Lack of Standardization
- Data Availability and Quality
- Opportunities
- Emerging Applications
- Use of Biosimulation Solutions for Pediatric Drug Development
- Challenges
- Difficulties in Matching Complexity of Biological Systems and Processes
- Shortage of Biosimulation and Modeling Experts
Additional Insights in the Report
- Ecosystem Analysis
- Value Chain Analysis
- Regulatory Analysis
- Patent Analysis
- Technology Analysis
- Industry Trends
- Pricing Analysis
- Key Conferences & Events, 2024-2025
- Key Stakeholders & Buying Criteria
- Trends & Disruptions Impacting Customers’ Businesses
- End-user Analysis
- Investment & Funding Scenario
- Impact of AI/Gen AI on Biosimulation Market
For more information about this report visit https://www.researchandmarkets.com/r/siwugf
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