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The biosimulation market has witnessed significant growth in recent years, driven by various factors shaping the healthcare and pharmaceutical industries. Biosimulation, a process of modeling biological systems using mathematical and computational techniques, has become an indispensable tool for drug discovery, development, and regulatory approval. One prominent trend in the biosimulation market is the increasing adoption of personalized medicine approaches. With advancements in genomics and molecular biology, there's a growing understanding of individual variability in disease susceptibility and treatment response. Biosimulation enables researchers to simulate these complex interactions within the body, aiding in the development of tailored treatment regimens that are more effective and safer for patients.
Another key trend is the rising demand for virtual clinical trials. Traditional clinical trials are often time-consuming, expensive, and limited by factors like patient recruitment and retention. Virtual trials, facilitated by biosimulation, offer a more efficient and cost-effective alternative. By creating computer models that replicate physiological processes and disease mechanisms, researchers can simulate the effects of new drugs or treatments on virtual patient populations. This approach not only accelerates the drug development process but also allows for more comprehensive exploration of potential outcomes before advancing to human trials.
Moreover, there's a growing emphasis on sustainability and environmental impact in the pharmaceutical industry, driving the adoption of in silico methods like biosimulation. Traditional drug development processes involve extensive laboratory experiments, which consume significant resources and generate large amounts of waste. By leveraging computational models, researchers can reduce the need for experimental testing, minimizing environmental footprint and conserving resources. Additionally, biosimulation enables the prediction of pharmacokinetic and pharmacodynamic properties of drug candidates, helping to identify compounds with favorable efficacy and safety profiles early in the development process, thereby reducing the likelihood of costly failures in later stages.
Furthermore, the COVID-19 pandemic has accelerated the digital transformation of the healthcare and pharmaceutical sectors, leading to increased investment in technologies like biosimulation. The urgency to develop effective treatments and vaccines against the novel coronavirus highlighted the limitations of traditional drug discovery approaches and underscored the importance of innovation in the field. Biosimulation played a crucial role in expediting the development and evaluation of potential therapeutics and vaccines, providing insights into their mechanisms of action and optimizing dosing regimens.
Additionally, collaborations between academia, industry, and regulatory agencies have become more prevalent in the biosimulation market. These partnerships foster knowledge exchange, facilitate access to data and expertise, and promote the development of standardized methodologies and best practices. By working together, stakeholders can address common challenges more effectively and advance the field of biosimulation to new heights.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | By Product, By Application, By Delivery Model and By End Users |
Biosimulation Market Highlights:
Biosimulation Market Overview
Biosimulation Market Size was valued at USD 3.44 Billion in 2023. The Global Biosimulation industry is projected to grow from USD 4.03 Billion in 2024 to USD 14.28 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 17.23% during the forecast period (2024 - 2032). Drug discovery & development is an expensive process, and any deviation in results in the late phases of drug development results in a huge waste of time, money and other resources. Hence, there is a need to develop a tool that will support the outcomes of the drug development process by simulating the biological processes involved.
Biosimulation is the simulation of biological processes with the help of a computer program. Biosimulation is a predictive and analytical tool used in the drug discovery stage to predict future outcomes of current experimental trials. Virtual clinical trials of new developing pharmaceutical drugs can be conducted on computers by running disease simulations. Biosimulation software has wide applications in pharmaceutical drug discovery and development process as it can save both time and money for pharmaceutical companies in their search to discover new drugs and bring them to market.
Also, various government initiatives for the adoption of biosimulation models are contributing to the growth in the market. For instance, BioSim (Biosimulation) (an EU funded research project) received EUR 10.7 million under the 'life sciences, genomics, and biotechnology for health' priority of the Sixth Framework Programme (FP6). The overall objective of the BioSim project is to establish a European Network of Excellence, creating broader contacts between the many research groups working in this field throughout Europe. The strategic initiative by the EU for funding the BioSim Network of Excellence to structure efforts to develop simulation models for the design, selection, and testing of drugs is also projected to boost Biosimulation Market growth.
Biosimulation Market Trends
Increasing R&D investments by pharmaceutical, biotechnology, and medical device companies for the development of novel drugs ensures the growth in biosimulation market.
Market Drivers
- The growing adoption of biosimulation software by regulatory bodies is expected to drive the biosimulation market growth.
- The increasing healthcare expenditure is supporting the growth in the global biosimulation market. Health expenditure is rising faster than the global economy, accounting for 10% of global gross domestic product (GDP). In 2017, health expenditure was highest in the United States, at 17.1% of GDP and significantly more than Switzerland (12.3%) and France (11.3%), the second and third highest spenders.
- The increasing use of pharmacokinetic and pharmacodynamic modeling in pre-clinical development is driving the demand for biosimulation software.
- The rising need to reduce the drug development cost is expected to have a positive impact on the growth of the global biosimulation market.
- Technological advancements in biosimulation tools are contributing to the growth of the biosimulation market. For instance, in July 2018, a group of scientists at the Indian Institute of Science (IISc), Bengaluru has developed a low-cost simulator for endoscopy, called EndoMimyk. The purpose of an endoscopy simulator is to train clinicians without using animals and human patients in virtual reality environment with graphical visualization and haptics (virtual touch). Moreover, in March 2017, Certara developed Simcyp platform, a cloud-based licensing approach, which helps to predict pharmacokinetic outcomes in virtual patient populations.
- Adherence to compliance of IT in the pharmaceutical sector.
Market Restraints
- Lack of standardization in biosimulation methodology. The governing bodies are yet to standardize the use of in silico or biosimulation technologies in the drug discovery or development process.
- Lack of trained professionals.
Biosimulation Market Segmentation
Biosimulation Product Outlook
- Software: Availability of an extensive array of application-specific software based on different needs and interests of users/researchers is driving the growth of this segment. This segment is likely to dominate the biosimulation market with the largest market share throughout the forecast period.
- Services: Biosimulation services are proved to be imperative in complex and multi-layered drug development systems. The services segment is further segmented into in-house services and contract services.
Biosimulation Application Outlook
- Drug Development: It is the largest segment by application. Biosimulation solutions help to reduce the time and cost of the drug development process, which increases its adoption for this process. The drug development process includes preclinical testing and clinical trials. The preclinical testing is further bifurcated into PK/PD (pharmacokinetic/pharmacodynamic) and ADME/TOX (Absorption, Distribution, Metabolism, Excretion, and Toxicity).
- Drug Discovery: A large number of pharmaceutical companies are focusing on drug testing through biosimulation methodology.
- Others: Other applications include nutraceuticals, agricultural food production, and others.
Biosimulation Delivery Model Outlook
- Subscription Models: The largest segment by delivery model, owing to advantages associated with subscription models such as interoperability, cost-effectiveness, and flexibility.
- Ownership Models: Buyers opt for ownership models owing to security benefits associated with these models.
Biosimulation End Users Outlook
- Pharmaceutical & Biotechnology Companies: It is the largest segment by end-users. The pharmaceutical and biotechnology companies use biosimulation tools throughout the drug development process, as it helps to identify molecules with the highest efficacy and the least toxicity.
- Contract Research Organizations: The contract research organization segment is estimated to register the highest growth rate in the future owing to the higher adoption of biosimulation tool.
- Research Institutes: The increasing demand for biosimulation software from research institutions to discover new drug variants is driving the growth of this biosimulation market segment.
- Regulatory Authorities: The revolutionary impact of biosimulation on drug development is rising the adoption of biosimulation software.
- Others: Others include research and development organizations, consulting firms, and others.
Biosimulation Region Outlook
- Americas: The Americas is the largest regional market. This is attributed to a large number of clinical trials and drug development practices, growth of pharmaceutical and biotechnology industries, and growing adoption of personalized medicine in this region. Moreover, the R&D expenditure of the US pharmaceutical industry grew to USD 47.05 billion in 2015 from USD 40.69 billion in 2010.
- Europe: The regulatory bodies in Europe region are making efforts to adopt advanced software and services for the drug development process, which is expected to drive biosimulation market growth in this region.
- Asia-Pacific: The fastest-growing regional biosimulation market. Asia-Pacific has the world’s largest population and a fast-developing healthcare sector. Additionally, developing healthcare infrastructure and the growing number of research and development activities is driving the growth of this region.
- Middle East & Africa: The Middle Eastern biosimulation market is expected to show more growth as compared to the African market, owing to the presence of developed countries such as Saudi Arabia and Oman in the region.
Industry NewsNovember 2023Certara, L.P. announces that it has acquired Simulations Plus, Inc., a provider of biosimulation software and services. The acquisition will expand Certara's product offerings and provide customers with a more comprehensive suite of biosimulation solutions.Dassault Systèmes SE announces that it has partnered with Schrodinger, Inc., a provider of biosimulation software, to develop a new platform for biosimulation and drug discovery. The partnership will combine Dassault Systèmes' expertise in modeling and simulation with Schrodinger's expertise in biosimulation to develop a new platform that can be used to accelerate drug development.Physiomics Plc announces that it has received FDA approval for its new software, Physiome Modeler, for use in drug development. Physiome Modeler is a software platform that can be used to model the human body and predict the effects of drugs on different organs and tissues.
Biosimulation Market Key Players
- Dassault Systèmes (France)
- Certara USA, Inc. (US)
- Simulation Plus (US)
- Schrödinger (US)
- Chemical Computing Group (Canada)
- Physiomics (UK)
- In Silico Biosciences (US)
- Advanced Chemistry Development, Inc. (Canada)
- Genedata AG (Switzerland)
- Nuventra Pharma (US)
- Evidera (US)
- Leadinvent Technologies (India)
- LeadScope, Inc. (US)
- Rosa (US)
- INOSIM Software GmbH (Germany)
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