What This Report
This study involved four major activities in estimating the current size of the biosimulation market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.
The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.
Expected Revenue Growth:
[180 Pages Report] The global biosimulation market is projected to reach USD 2,881 billion by 2022 from USD 1,375 billion in 2017, at a CAGR of 15.9%.
Major Growth Boosters:
Factors such as increase in R&D investments in the pharmaceutical and biotechnology industries, growing adoption of biosimulation software by regulatory bodies, technologically advanced QSP systems, need to curtail drug discovery and development costs, and growth in the biologics and biosimilars markets are driving the growth of the market.
Download PDF Brochure:
In April 2017, Simulations Plus signed Distributor Agreement with Quantum Bio Solutions (Q-Bio) (South Korea) To strengthen its relationships with South Korean companies and universities.
In June 2017, Simulations Plus acquired DILIsym Services, Inc. (“DILIsym”) (US). This enabled the company to expand its product portfolio in simulation software and consulting services of drug-induced liver injury.
In December 2015, Certara acquired XenologiQ (UK) To strengthen its product portfolio in mechanistic pharmacology and modeling and simulation.
Regional Growth Analysis:
The biosimulation market is segmented into four major regions, namely, North America, Europe, Asia, and the Rest of the World (RoW). The dominance of the North American market is attributed to factors such as growth in the biotechnology and pharmaceutical industry, a large number of ongoing drug development processes, increased use of personalized medicine, and increasing R&D expenditure by pharmaceutical and biotechnology companies.
Growth in Biologics and Biosimilars Market:
Growth in the global biosimilars market is mainly driven by factors such as the growing pressure to curtail healthcare expenditures, growing demand for biosimilars due to their cost-effectiveness, rising incidence of various diseases, increasing number of off-patented drugs, positive outcomes in ongoing clinical trials, and rising demand for biosimilars in different therapeutic applications such as rheumatoid arthritis and blood disorders. As there is very little success in the R&D of new chemical entities, pharmaceutical companies are trying to find new applications for their existing drugs. As toxicity and other vital parameters of drug safety are already tested, biosimulation technologies are used to confirm the hypothesis of using the drugs for a new indication or disease.
Request Sample Report:
Certara (US), Simulations 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).
What This Report