What is the global market size of Biosimulation Market?

Biosimulation Market size was valued at USD 2.4 billion in 2021 and is poised to grow from USD 2.81 billion in 2022 to USD 9.78 billion by 2030, growing at a CAGR of 16.9% in the forecast period (2023-2030).

What is the key driver of Global Biosimulation Market?

The increasing pressure to lower healthcare costs, rising demand for biosimilars due to their cost-effectiveness, rising prevalence of various diseases, rising number of off-patent drugs, positive results in ongoing clinical trials, and rising demand for biosimilars in various therapeutic applications such as rheumatoid arthritis and blood disorders are some of the main factors driving growth in the global biosimilars market.

What is the key market trend for Global Biosimulation Market?

One of the key trends driving market growth is the rising incidence of drug relapse cases due to drug resistance in diseases such as cancer, tuberculosis, and other bacterial infections.

Which region accounted for the largest share in Global Biosimulation Market?

In 2021, North America had a revenue share of more than 45.0%. This expansion is attributed to the presence of key players, increased healthcare digitization, and the rising prevalence of chronic health issues. Furthermore, the use of in-silico models during regulatory policy enforcement to ensure high patient safety and treatment standards is contributing to regional market growth. Geographically, North America will dominate the worldwide biosimulation technology market in the years to come as a result of technical improvements, market expansion for biologics and biosimilars, high healthcare spending, and the presence of numerous pharma and biotech firms. Additionally, the U.S. Food and Drug Administration (FDA) highly suggests using simulation methods in drug research and development, hence promoting the expansion of the North American biosimulation technology market. In the global market for biosimulation technology, Europe is the region with the quickest growth. High healthcare costs and an increase in R&D activities are the main causes of the fastest growth in the region.

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

Q: Who are the key vendors in the Global Biosimulation Market?

To gain a larger market share, key players used competitive sustainability strategies such as product development and geographical presence expansion. Market leaders are also more likely to address unmet needs and provide economic value through consistent product upgrades. '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'

Report ID: SQMIG35I2104 | Region: Global | Published Date: April, 2024
Pages: 219 | Tables: 64 | Figures: 75

Biosimulation Market News

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.

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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).

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. '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'

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.

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.

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.

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Biosimulation Market Report Snapshots

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What is the global market size of Biosimulation Market?

Who are the key vendors in the Biosimulation Market?

What is the key driver of Biosimulation Market?

What is the key market trend for Biosimulation Market?

Which region accounted for the largest share in Biosimulation Market?

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