USD 2.81 billion
Biosimulation Market Size, Share, Growth Analysis, By Application(drug development, drug discovery, and others), By End user(pharmaceutical and biotechnology companies, academic institutes and research laboratories, contract research organisations, and others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2104 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|Tables:
64
|Figures:
75
Biosimulation Market Insights
Global Biosimulation Market size was valued at USD 2.81 billion in 2022 and is poised to grow from USD 3.28 billion in 2023 to USD 11.46 billion by 2031, growing at a CAGR of 16.90% during the forecast period (2024-2031).
Simulation software is a computer program used to create prototypes and simulate real-world objects or systems. These software tools use mathematical models to generate various elements of the system behaviours, properties, and interactions. Benefits offered by the simulation software include reduced training costs, manufacturing costs, improved equipment/material quality and productivity, among others that lead to industry recognition. This allows manufacturers to reduce the situation of product recalls, which is one of the biggest concerns for companies. The major factors driving the growth of the biosimulation market include rapid development of simulation software for medical applications and widespread use of simulation tools in the automotive, electronics and aerospace industries.
Simulation tools played a key role in training health professionals in this regard, modelling the spread of the virus and developing strategies. The pandemic has accelerated the adoption of digital technologies across industries. As organizations desirable for streamline operations, increase productivity, and reduce the physical interactions, simulation software became a valuable tool for digitally simulating and optimizing processes, operations, and systems and many challenges were identified within the healthcare sector during the pandemic.
US Biosimulation Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
drug discovery
Fastest Growth
drug discovery
Growth Rate
16.90% CAGR
Global Biosimulation Market ($ Bn)
Country Share for North America Region (%)
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Biosimulation Market Segmental Analysis
The global biosimulation market is divided into three sections: offering type, application, and end user. The market is classified into two types of offerings: software and services. The software segment is divided into the following categories: PK/PD modelling and simulation, PBPK modelling and simulation, trial simulators, molecular modelling, and others. The Biosimulation Market is classified into three applications: drug discovery, drug development, and others. End users in the Biosimulation Market include contract research organisations, pharmaceutical and biotechnology companies, research institutes, regulatory institutes, and others. By region, the Biosimulation Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Biosimulation Market Analysis by Deployment
In 2023, the on-premises segment dominated the market and occupied a substantial share of over 71.4% in global revenue. Much of this part comes from the initial adoption of the software. On-premises deployment is a traditional deployment approach that involves installing software on premises. This approach is useful for companies that need to manage their data and protect the data from hackers. These benefits related to data privacy and security are the key drivers for the sector’s growth. The segment is expected to hold the largest market share in 2031.
With the cloud segment expected to register the fastest CAGR over the next seven years, the growth of this segment can be attributed to the benefits provided including ease of use and cost savings compared to traditional on-premises software. The adoption of cloud-based simulation software now provides users with the high-performance computing resources without the need for expensive hardware, reducing the upfront costs. The cloud segment is playing a transformative role in the biosimulation market by offering increased scalability, accessibility and cost savings.
Biosimulation Market Analysis by Component
The software segment dominated the market and accounted for over 69.5% of the revenue in 2023. The phase is anticipated to stay dominant over the forecast length. The growth of this segment may be attributed to the profitability of software, as information security, reliability and unpassed testing. Moreover, finite detail evaluation below the software program segment is anticipated to make contributions drastically to the growth of the segment. FEA is extensively used within the car, aerospace, defense, and electronics industries to analyze the residences, overall performance, and design of substances.
On the other hand, the service segment is expected to register the fastest growth during the market forecast. The growth of the sector can be attributed to increasing the awareness among companies and governments on the use of virtual-enabled processes for product development. Services, such as design and consulting, implementation and maintenance are gaining popularity in various industries. ANSYS, Inc., one of the leading players in the market, provides consulting and professional services for simulation performance improvement and system installation.
Global Biosimulation Market By Deployment (%)
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Biosimulation Market Regional Insights
In 2023, North America held the dominant market share. The region is expected to remain dominant over the forecast period due to the presence of key players from the US. and Canada because of its presence. Moreover, companies in these countries have been observed to invest in research and development programs to bring technologically advanced products to the market, and the region is well known as a pioneer region of advanced technology. North America plays a dominant role in the biosimulation market growth, driven by the region’s strong technological base, technological advancements and widespread adoption of digital technologies in the US. The North America position is further strengthened by major players such as Ansys and Autodesk increasingly relying on biosimulation market and improve operational efficiency. Additionally, increasing investments in artificial intelligence (AI), cloud computing, and digital twin technologies are fuelling the growth of simulation software across industries.
Asia-Pacific is expected to post the fastest CAGR in this market during the forecast period. Asia Pacific is emerging as the fastest growing region in the biosimulation market outlook, led by countries such as China, Japan and India. Rapidly growing manufacturing sector, growing automotive electronics industry and increasing focus on automation are key growth drivers. Governments in Asia-Pacific are also promoting Industry 4.0 initiatives, driving demand for simulation software in manufacturing and industrial design with growing demand for simulation tools in R&D, coupled with growing IT infrastructure increase including positions.
Global Biosimulation Market By Geography
- Largest
- Fastest
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Biosimulation Market Dynamics
Biosimulation Market Drivers
Growing Demand for Cost-effective Solutions
- As companies seek to reduce operating costs, software development photography has increased. One of the major drivers of the biosimulation market is the rising need for cost-effective solutions across industries. Simulation software enables businesses to perform virtual testing and analysis, reducing the cost of physical prototypes and testing methods.
Rapid Technological Advances in Biosimulation Market
- Technological advances, especially in high performance computing (HPC) and cloud-based simulation are also driving the growth of the biosimulation market. HPC enables the simulation of complex systems in a short time, while cloud platforms provide solutions scalable and available for all enterprise sizes to improve efficiency and effectiveness, and expand applications in industries such as the healthcare, electronics, and energy.
Restraints
High Implementation Costs
- Despite the advantages, the high initial costs associated with using simulation software present a significant limitation. Licensing, hardware upgrades and staff training can be expensive, especially for small and medium-sized enterprises (SMEs). This upfront cost can discourage some businesses from using software, especially if they are on a small budget.
Complex Integration with Existing Systems
- Another challenge is the difficulty of integrating simulation software into existing systems, especially in legacy systems. Many companies in industries such as construction and energy rely on older systems that are not always compatible with modern design tools. This creates additional costs and delays when companies have to change or modify their current policies, slowing down the adoption rates.
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Biosimulation Market Competitive Landscape
The competitive scenario in the biosimulation market is a mix of established players and emerging innovative companies. Major players including the Siemens, Ansys, Dassault Systèmes dominate the automobile, aerospace, healthcare sectors with a division a broader purchaser. New entrants, meanwhile, are that specialize in niche programs and cloud-primarily based solutions, intensifying opposition. The marketplace is likewise seeing a hybrid of AI and device getting to know, which offers the superior modelling and predictive analytics capabilities, and further expands the abilities of simulation software program providers.
Biosimulation Market Top Player's Company Profiles
- Certara
- Dassault Systèmes SE
- Simulations Plus Inc.
- Schrödinger Inc.
- Physiomics Plc
- Advanced Chemistry Development Inc.
- In silico biosciences Inc.
- Genedata AG
- Evidera Inc.
- Leadscope Inc.
- Insilico Biotechnology AG
- Rhenovia Pharma SAS
- Entelos Inc.
- Biocomputing Platforms Ltd.
- Rosa & Co. LLC
- Genedata AG
- OpenEye Scientific Software Inc.
- Nexelis
- Compugen Ltd.
- Chemical Computing Group ULC
Biosimulation Market Recent Developments
- March 2023 - Simulations Plus, Inc., a developer of modeling and simulation software for pharmaceutical formulations, announced a partnership with the Institute of Medical Biology of the Polish Academy of Sciences to develop novel drugs for RORγ/RORγT nuclear receptors displayed with artificial intelligence in ADMET.
- January 2023 - Autonomous systems software framework organization Real-Time Innovations (RTI) announces its partnership with simulation software player Ansys. This partnership provides high-performance, high-reliability distributed development, testing and deployment without their hardware at the bottom line is faster, with either restricted access or low cost.
- February 2023 – Ansys Inc., a leading software company, acquired simulation software provider Rocky DEM. With this acquisition, Ansis will add the Discrete Element Method (DEM) tool to its portfolio and expand its geographic presence in the US, Brazil and Spain.
Biosimulation Key Market Trends
- Expansion of Artificial Intelligence in Simulations: AI enables simulations, becoming more accurate and efficient, thus increasing their value to the industry. Artificial intelligence (AI) integration is a major factor in the biosimulation market trend. AI-driven simulations provide predictive insights and can optimize performance in real time. This is particularly striking in industries such as healthcare and autonomous vehicles, where models must account for complex and dynamic environments.
- Increasing Adoption of Digital Twins: The widespread use of IoT and cloud computing has made it easier to create and manage digital pairs, especially in sectors such as the construction, smart cities, and energy management, and as digital twins become more advanced, the demand for simulation software will be increased. The rise of digital pairs is another important trend shaping the biosimulation market. Digital twins, virtual replicas of physical systems, allow businesses to monitor, simulate and optimize in real time.
Biosimulation Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the biosimulation marketplace is pushed by means of the need for cost-effective solutions and rapid technological advancements. However, high begin-up charges and complicated integrations with hidden systems act as predominant inhibitors. Emerging traits including AI integration and increasing adoption of the digital twins are reshaping the market, presenting new increase possibilities. Simulation software is an important device in industries such as the healthcare, automotive and manufacturing, because it allows organizations to lessen risk, lessen expenses and increase operational efficiency.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.81 billion |
| Market size value in 2031 | USD 11.46 billion |
| Growth Rate | 16.90% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Biosimulation Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Biosimulation Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Biosimulation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Biosimulation Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Biosimulation Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Biosimulation Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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