Study estimates biosimulation market size for 2019 & projects its demand till 2024. In primary research process, various sources from both demand side & supply side were interviewed to obtain qualitative and quantitative information for report.
Biosimulation market dominated by software and services. The biosimulation services segment is projected to register the highest CAGR during the forecast period. The high growth in this segment is attributed to the recurring need for services such as data analysis, and consulting services.
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Biosimulation market is projected to reach USD 2.88 Billion by 2022 from USD 1.38 Billion in 2017, at a CAGR of 15.9%. Factors like increase in R&D investments in pharmaceutical & biotechnology industries, growing adoption of biosimulation software by regulatory bodies, technologically advanced QSP systems, need to curtail drug discovery & development costs, & growth in biologics and biosimilars markets are driving growth of market.
“Biosimulation services are expected to grow at the highest CAGR during the forecast period”
Top players in biosimulation market operating are Certara (US), Simulation Plus (US), Dassault Systèmes (France), Schrödinger (US), ACD/Labs (Canada), Chemical Computing Group (Canada), Physiomics (UK), Evidera (US), In silico biosciences (US), INOSIM Software (Germany), Insilico Biotechnology (Germany), LeadInvent Technologies (India), Rosa (US), Nuventra Pharma (US), and Genedata (Switzerland).
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North America is expected to account for the largest share of the market followed by Europe. However, Europe is expected to register the highest CAGR during the forecast period. The growing focus on research-related funding activities by governments is expected to assist in the development of drug discovery and development process, thus driving the demand for biosimulation in European region.
Target Audience for Biosimulation Market Report:
- Biosimulation product manufacturers, vendors, and distributors
- Market research and consulting companies
- Regulatory authorities
- Associations related to pharmaceutical and biotechnology research
- Biotechnology and pharmaceutical companies
- Academic and government research institutes
- Contract research organizations (CROs)
The report provides an overview of the biosimulation market. It aims at estimating the market size and future growth potential of this market across different segments such as product & service, applications, delivery model, end user, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
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The biosimulation market is segmented into software and services. The biosimulation services segment is projected to register the highest CAGR during the forecast period. The high growth in this segment is attributed to the recurring need for services such as data analysis, and consulting services.
Biosimulation market report will help stakeholders to understand competitive landscape better & gain insights to position their businesses & help companies make suitable go-to-market strategies. Report also helps stakeholders understand pulse of market & provide them with information regarding key market drivers & opportunities.