- The increasing urgency of producing drugs and vaccines for diseases with high caseload is bringing good growth opportunities for the global biosimulation market
- Considering the increased demand for utilization in drug development and the overall current scenario, the global biosimulation market may expand at a high CAGR through the forecast period of 2020-2030
ALBANY, N.Y., Oct. 7, 2020 /PRNewswire/ -- The use of biosimulation has increased lately in drug and discovery applications such as lead identification and optimization, pre-clinical testing of novel drugs, and target identification and validation. This factor may boost the growth prospects of the global biosimulation market greatly during the assessment period.
The researchers at Transparency Market Research (TMR), after a scrutinized and detailed study on every growth factor prognosticate the global biosimulation market to record a high CAGR across the forecast period of 2020-2030. The global biosimulation market was valued at US$ 1.8 bn in 2019.
Researchers need upgraded and efficient tools for good research. Therefore, a large chunk of researchers prefers biosimulation for enabling accurate findings of the studies being conducted. In addition, the growing burden of various infections, diseases, and disorders is further heating up the urgency for biosimulation, thus increasing the growth rate.
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Biosimulation Market: Transparency Expert Diagnosis
Heightening attention on enhancing drug development and discovery, increasing emphasis on improving model engineering factors, and escalating adoption of artificial intelligence (AI) are the factors that may bring good growth for the biosimulation market during the forecast period according to the analysts at Transparency Market Research (TMR).
The analysts also highlight the factors like the magnifying influence of large-scale investments and increasing research and development activities as prominent growth generators.
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Biosimulation Market: Key Revelations
- Based on offering type, the software segment is extrapolated to acquire a massive share of the global biosimulation market between 2020 and 2030
- North America emerged as a notable growth contributor in 2019 and is expected to continue the same run during the forecast period of 2020-2030
- Asia Pacific may expand at a higher CAGR through the assessment period
- China and India may bring substantial growth for the biosimulation market in Asia Pacific from 2020 to 2030
Explore 213 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Biosimulation Market (Offering Type: Software and Services; Application: Drug Discovery, Drug Development, and Others; and End User: Contract Research Organization, Pharmaceutical & Biotechnology Companies, Research Institutes, Regulatory Institutes, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/report-toc/703
Biosimulation Market: Growth Propellers
The rising adoption of biosimulation in pharmacogenetics and pharmacogenomics is bringing great growth opportunities for the global biosimulation market.
- Pharmaceutical and biological companies are also bringing expansive growth prospects for the biosimulation market
- The increase in spending on healthcare expenditure by governments of various countries is boosting the growth prospects of the biosimulation market
- State-of-the-art technological developments in the biosimulation sector may serve as robust pillars of growth
- Mergers and acquisitions also play an important role in boosting the growth of the biosimulation market
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How is Biosimulation Market Faring during COVID-19 Pandemic?
The SARS-CoV-2 outbreak has caused immense loss to every sector and individual worldwide. The race for a vaccine to prevent and treat COVID-19 is in full throttle. Various pharma companies and vaccine manufacturers are using biosimulation to make informed decisions regarding vaccine candidates for multiple patient populations. Therefore, this factor may bring promising growth opportunities for the global biosimulation market during the forecast period of 2020-2030.
Biosimulation Market: Key Players
Some well-established players in the biosimulation market are Genedata AG, Certara, Insilico Biotechnology AG, Dassault Systèmes S.A., Advanced Chemistry Development, Inc., Schrödinger, Inc., Rosa & Co. LLC, Rhenovia Pharma, and Genedata AG.
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Global Biosimulation Market: Segmentation
By Offering Type
- Software
- PK/PD Modeling & Simulation
- PBPK Modeling & Simulation
- Trial Simulators
- Molecular Modeling
- Others
- Services
By Application
- Drug Discovery
- Target Identification & Validation
- Identification & Optimization
- Drug Development
- Pre-clinical Testing
- Clinical Trial
- Others
By End User
- Contract Research Organization
- Pharmaceutical & Biotechnology Companies
- Research Institutes
- Regulatory Institutes
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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