"Global biosimulation market projected to grow at a CAGR of 15.9%"
The biosimulation market is expected to reach USD 2.88 billion by 2022 from USD 1.38 billion in 2017, at a CAGR of 15.9%. 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 biosimulation market. On the other hand, market growth may be limited to a certain extent due to the lack of standardization for biosimulation solutions.
"Biosimulation services are expected to grow at the highest CAGR during the forecast period"
By product and service, 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.
"Ownership models segment is expected to dominate the market during the forecast period"
Based on the delivery model, the biosimulation market is segmented into ownership models and subscription models. The ownership models segment is expected to dominate the market during the forecast period. Buyers mainly opt for these delivery models due to the security benefits associated with them are the major factors that are supporting the growth of this delivery models segment.
"Europe to witness high growth during the forecast period"
In 2017, 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 the European region.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type: Tier 1 - 62%; Tier 2 - 25%; Tier 3 - 13%.
- By Designation: C-level- 29%; D-level- 25%; Others-46%.
- By Region: North America-55%; Europe-24%; Asia-15%; RoW-6%.
List of companies profiled in the report:
- Certara (US)
- Simulations Plus (US)
- Dassault Systemes (France)
- Schrodinger (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)
- Genedata (Switzerland)ssss
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.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them with the closest approximations of revenues for the overall biosimulation market and its subsegments. This report will help stakeholders to understand the competitive landscape better and gain insights to position their businesses and help companies make suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provide them with information regarding key market drivers and opportunities.