Therapeutic Biosimulation Market Revenue, Major Players, Consumer Trends, Analysis & Forecast Till 2028
According to the most recent analysis by Emergen Research, the global customised therapeutic biosimulation market size reached USD 1,061.7 Million in 2020 and is projected to grow at a revenue CAGR of 14.6% over the forecast period. Some of the major drivers propelling the growth of the worldwide customised therapeutic biosimulation market are the increasing number of drug relapse and drug resistance instances, as well as the increasing application of quantitative system pharmacology in drug discovery processes.
Drug development is a time-consuming, difficult, expensive, and diverse process with a high failure rate and a low number of approved pharmaceuticals by the U.S. Food & Drug Administration (FDA). The poor success rate, rising R&D costs, and rising rates of medication resistance in diseases like cancer, epilepsy, and tuberculosis are some of the issues that are causing a growing need to use biosimulation techniques for the creation of new generation of drugs.
Additionally, it is anticipated that the clinical urgency to produce highly effective and sophisticated medications would be crucial to the market’s expansion. The use of Personalized Therapy biosimulation in the simulation modelling of diseases like diabetes mellitus is growing. It is utilised to create models for cutting-edge therapies in conjunction with proteomic and genomic technologies.
It is projected that software updates and technological advancements would increase academics’ interest in Personalized Therapy biosimulation. This will probably give the market a strong boost. Predictive models and the deployment of microarrays are examples of these technological developments. Semantic technologies that support a limited number of Personalized Therapy biosimulation components are another development that helps to speed up, lower the cost, and simplify the process as a whole.
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Some Key Highlights from the Report
Due to the increasing adoption of biosimulation software by pharmaceutical and biotechnology companies, Contract Research Organizations, regulatory agencies, and academic and research institutes to accelerate the drug development process, as well as the rapid technological advancements and up-grading in the software, the software segment is expected to account for the largest revenue share over the forecast period.
Due to the rising incidence of cancer, the growing use of personalised medicine approaches for cancer treatment, and the growing reliance on biosimulation platforms to predict individual responses to cancer therapeutics and reduce drug resistance among cancer patients, the oncology segment’s revenue is anticipated to grow at a rapid CAGR over the forecast period.
The pharmaceutical and biotechnology companies segment is anticipated to have the highest revenue share over the forecast period due to the growing use of computer modelling techniques for the development of safe and effective medications, streamlining clinical trial procedures, lowering the cost of producing new drugs, improving the selection of the target population, and creating advanced cancer therapeutics.
Some major companies operating in the global market include Cellworks Group Inc., Certara USA Inc., Simulation Plus Inc., Schrodinger Inc., In Silico Biosciences Inc., Genedata AG, Physiomics plc, Insilico Biotechology AG, Chemical Computing Group ULC (CCG), and Evidera Inc.
To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/personalized-therapy-biosimulation-market
Emergen Research has segmented the global personalized therapy biosimulation market on the basis of product, therapeutic area, application end-use, and region:
Product Outlook (Revenue, USD Billion; 2018–2028)
Therapeutic Area Outlook (Revenue, USD Billion; 2018–2028)
Application Outlook (Revenue, USD Billion; 2018–2028)
- Drug Development
- Drug Discovery
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations (CROs)
Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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