Global Biosimulation Market: Overview
Biosimulation is an integral part of systems biology, which is referred to as a simulation of biological processes by using computer-aided mathematical models. This process assists in drug metabolism, modeling of complex biomedical systems, and development of clinical drugs. Biosimulation is becoming a vital part of drug development. It is a tool that predicts early failure of a drug in the drug development process owing to toxicity, adverse side effects, and bad pharmacokinetics. This is a key to reduce associated costs linked with drug development, animals required for experiments and clinical trials. Due to its surprising advantages in drug development, biosimulation is used in numerous research projects.
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Global Biosimulation Market: Growth Factors
Major drivers of the global biosimulation market are cost reduction linked with drug discovery and development and associated risk of failure of a drug molecule in the late phase. In addition, higher investment on R&D activities in pharmaceutical and biotechnology industries may drive the global market in the coming years. However, exponential growth in the biologics sector is expected to foster the global biosimulation market in the near future. Up gradation of technology and rise in the use of personalized medicines across the world may fuel the global market. Moreover, timely product innovations and changing business strategies also spur the global biosimulation market growth.
Global Biosimulation Market: Segmentations
The global biosimulation market is divided based on end-user as regulatory authorities, academic and government research institutes, contract research organization, pharmaceutical and biotechnology companies, and others. Based on the application, the global market is divided as drug development and drug discovery. The drug development is further sub-segmented as preclinical testing, and clinical trials. The preclinical testing is further sub-categorized as PK/PD, and ADME/Tox. However, the drug discovery is further sub-classified as target identification and optimization, and lead identification and optimization. Of these, target identification and optimization is the leading application segment in the global market. They consist of protein structure prediction. North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa give the geographical representation.
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Global Biosimulation Market: Regional Analysis
North America is anticipated to show escalating growth in the next few years, as technological advancement is getting a spur in this region. However, developing healthcare infrastructure and rise in spending on healthcare is expected to contribute to global market growth in future. Europe is anticipated to grow at moderate rate as it is considered the mature market. It is expected to experience high demand for biosimulation. In addition, increasing company focus on developed products, which meet the expectation of the consumer, may positively impact the global biosimulation market. Asia Pacific shows sluggish growth in biosimulation market as it is still in a nascent stage. However, inadequate healthcare infrastructure and lack of skilled professionals may continue giving tough time to companies operating in this region.
Global Biosimulation Market: Competitive Players
Key players operating in the global biosimulation market are Advanced Chemistry Development, Inc., Certara USA, Inc., Chemical Computing Group, Inc., Entelos Holding Corporation, and Dassault Systèmes SA. Other players influencing the global market include Physiomics PLC, Genedata AG, Simulation Plus Inc., Schrödinger Inc., andRhenovia Pharma Ltd.
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Global Biosimulation Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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