The Biosimulation Market Size was valued at USD 2.4 billion in 2023 and is expected to reach USD 8.4 billion by 2031, and grow at a CAGR of 17.0% over the forecast period 2024-2031.
The inclination of researchers towards biosimulation is expected to be stimulated by technological innovations and periodic updates in the software. It is likely that the market will be stimulated significantly. The adoption of microarrays and predictive models is one such technological advance. Semantic technologies which allow for a limited number of biosimulation elements to be supported, thereby reducing the time, cost and complexity of the whole process are also emerging. In addition, an urgent need for developing stronger and more sophisticated medicines growing the market. In the simulation of diseases such as diabetes mellitus, biosimulation is increasingly used. For the development of models for next generation drugs, it uses proteomics and genomic technologies.
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DRIVERS
In the biotechnology and pharmaceutical sector, expenditure on research and development is increasing
Increasing the use of biosimulation software among regulators
Expansion in the biologics and biosimilars market.
The global biosimilars market is experiencing growth primarily propelled by several factors, including the increasing pressure to reduce healthcare costs, rising demand for cost-effective biosimilars, higher prevalence of diseases, growing availability of off-patent drugs, favorable results from ongoing clinical trials, and escalating demand for biosimilars across various therapeutic applications like rheumatoid arthritis and blood disorders. Pharmaceutical companies are trying to find new uses for existing medicines as the research and development of new chemical entities has not been very successful. Biosimulation technologies are used to confirm the hypothesis of the use of these medicinal products for a new indication or disease, since toxicity and other essential parameters of drug safety have already been tested.
RESTRAINTS
Lack of standardization
To capture and process different aspects of biochemical processes, biosimulation uses a range of models, tools and languages. In order to facilitate the creation, reuse, composition and merging of various biosimulation models with each other, existing modelling methods do not capture the underlying semantics of these model types. In the area of drug discovery and development, there is still a lack of standardisation between regulatory bodies on use of in silico or biosimulation technology.
OPPORTUNITIES
There has been an increase in the use of personalised medicines.
The use of biosimulation methods in the development of paediatric medicinal products
Emerging applications
Significant opportunities for growth of the global biosimulation market are emerging in areas such as defense, industrial bioprocessing, nutraceuticals and agriculture. In order to expand the application of their biosimulation software and services, different biosimulation companies adopt a strategy of inorganic growth strategies.
CHALLENGES
It is difficult to compare the complexity of biological systems and processes.
The shortage of biosimulation and modelling experts
Biosimulation is a method of representing the actual life processes that take place in human bodies by means of mathematics equations. Scientists can simulate a wide range of scenarios and study the behaviour of human systems in various situations because they are able to replicate biological elements and their interactions with drugs when introduced into our system. However, to operate, plan and monitor biosimulation software, skills are needed. There is a high demand for scientists who are well acquainted with biosimulation methods, e.g. Molecular Model Simulation and PKPD modeling and simulation at research laboratories and businesses.
Due to their roles as major producers of pharmaceutical raw materials and active ingredients, both countries are expected to have a negative impact on the supply chain. Any interruption, for example transport blockades or export restrictions, could result in shortages of essential components which would affect production and distribution around the world. In addition, due to supply chain disruption and currency fluctuations, the conflict could lead to higher costs for businesses. Profit margins and financial performance could be affected by the higher prices for basic materials, transport and logistics. The potential for political instability to create regulatory uncertainty, there may also be regulatory challenges. The ability of companies to bring their products into the markets effectively could be hampered by delays in approving new medicinal products or clinical trials, together with changing regulations on imports and exports.
The biosimulation market have been varying effects of the current economic slowdown. The market for biosimulation, driven by factors such as the increasing adoption of biosimulation software, the need to reduce drug discovery and development costs and the increase in research and development activities of pharmaceutical and biotechnology companies, has shown resilience and continued growth despite the economic downturn. In addition, when companies reassess their portfolios and focus on more promising or less risky opportunities, a downturn in the economy may result in delayed or canceled drug development projects. As these tools are used to optimise drug development and predict the efficacy and safety of new medicinal products, this may have a direct effect on demand for biosimulation services. The FDA's endorsement of biosimulation in research and development, as well as the growing use of artificial intelligence tools and technology for drug discovery and development that are expected to stimulate a wider adoption of biosimulation is also having an impact on the market.
By Product
Software
Services
In-house Services
Contract Services
In 2023, software accounted for more than 68.9% of the market's revenue. This is because there are a large number of Application Specific Software available on the market that cater to special R&D requirements. For example, Rhenovia Pharma provides software that specializes in simulation of the mechanism of CNS specific drugs. Software and services are part of the product segment.
By Delivery Model
Subscription Models
Ownership Models
By Application
Drug Development
Drug Discovery
Others
In 2023, drug development accounted for the largest revenue share of more than 59.8%. The growth of this segment is driven by an increasing number of government initiatives encouraging the use of advanced software. For example, the importance of this approach to developing drugs is highlighted in a report from the FDA on its Critical Path initiative and suggests that it can be incorporated as an effective predictive tool. Development of drugs, drug discovery and other areas are covered by the application segment.
By End-use
Pharmaceutical & Biotechnology Companies
CROs
Regulatory Authorities
Academic Research Institutions
In 2023, the revenue share of pharmaceutical and biotechnology companies was over 54.3% due to continuous efforts by key companies to prolong the life cycle of off patent drugs and to discover novel drug variants through the use of computer models can be attributed to the strong demand for biosimulation in these companies. The end user segment is composed of pharmaceutical and biotechnology companies, contract research organizations, regulators as well as academic research institutions.
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In 2023, North America had the largest revenue share of more than 49.7%. The presence of key stakeholders, increased digitisation in healthcare and the growing incidence of health problems are factors contributing to this growth. In addition, it also contributes to the growth of this region's market by adopting insilico models when enforcing legislation with a view to ensuring safe and efficient treatment for patients.
The Asia Pacific is expected to grow at a compound annual growth rate of 18.5% over the forecast period, driven by growing public and private sector initiatives as well as constant improvements in health infrastructure. Moreover, the region is set to benefit from significant growth opportunities due to rapidly expanding research and development activities of developing economies.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Some of the major key players are Advanced Chemistry Development, BioSimulation Consulting Inc., Certara, Dassault Systemes, Genedata AG, Chemical Computing Group ULC, Simulation Plus, Physiomics Plc, Rosa & Co. LLC, Schrodinger, Inc. and other players.
In June 2022, Certara has unveiled an updated version of its Biosimulation software tailored for advancing Novel Biologics. This new version integrates Immunogenicity (IG), Immuno-Oncology (IO), and Vaccine simulators, enabling users to comprehend and forecast drug mechanisms and identify pivotal queries in the progression of innovative biologic therapies.
In June 2022, Genedata AG announced that in order to speed up its Translational Research Strategy, Syros Pharmaceuticals has selected the Genedata Profiler as a Data Integration and Investigation Platform.
In March 2022, Advanced Chemistry Laboratories announced that Pharmaron Inc. had chosen its software to process and interpret the NMR data.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 2.4 Billion |
| Market Size by 2031 | US$ 8.4 Billion |
| CAGR | CAGR of 17% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Software, Services) • By Delivery Model (Subscription Models, Ownership Models) • By Application (Drug Development, Drug Discovery, Others) • By End-Use (Pharmaceutical & Biotechnology Companies, CROs, Regulatory Authorities, Academic Research Institutions) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Advanced Chemistry Development, BioSimulation Consulting Inc., Certara, Dassault Systemes, Genedata AG, Chemical Computing Group ULC, Simulation Plus, Physiomics Plc, Rosa & Co. LLC, Schrodinger, Inc. |
| Key Drivers | • Rise in R&D expenditures in the biotechnology and pharmaceutical sectors • Increasing regulatory bodies' use of biosimulation software • QSP Systems with the Latest Technology |
| Restraints | • Absence of Standards |
Ans: The Biosimulation Market size was valued at US$ 2.4 billion in 2023
Ans: The Biosimulation Market is growing at a CAGR of 17% over the forecast period 2024-2031
The COVID-19 pandemic had a major effect on the healthcare sector, which included the biosimulation business. The requirement for quick testing and development of COVID-19 vaccine candidates sparked a demand for biosimulation tools and services.
The market is divided in four segments by Product & Service, By Application, By Delivery Model, and By End User
Ans. Emerging Technologies, and Use of personalised medicine has increased are the opportunities of the Biosimulation ma
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Biosimulation Market Segmentation, by Product
9.1 Introduction
9.2 Trend Analysis
9.3 Software
9.4 Services
9.4.1 In-house Services
9.4.2 Contract Services
10. Biosimulation Market Segmentation, by Delivery Model
10.1 Introduction
10.3 Trend Analysis
10.4 Subscription Models
10.5 Ownership Models
11. Biosimulation Market Segmentation, by Application
11.1 Introduction
11.3 Trend Analysis
11.4 Drug Development
11.5 Drug Discovery
11.6 Others
12. Biosimulation Market Segmentation, by End-use
12.1 Introduction
12.2 Trend Analysis
12.3 Pharmaceutical & Biotechnology Companies
12.4 CROs
12.5 Regulatory Authorities
12.6 Academic Research Institutions
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Eastern Europe
13.3.1.1 Poland
13.3.1.2 Romania
13.3.1.3 Hungary
13.3.1.4 Turkey
13.3.1.5 Rest of Eastern Europe
13.3.2 Western Europe
13.3.2.1 Germany
13.3.2.2 France
13.3.2.3 UK
13.3.2.4 Italy
13.3.2.5 Spain
13.3.2.6 Netherlands
13.3.2.7 Switzerland
13.3.2.8 Austria
13.3.2.9 Rest of Western Europe
13.4 Asia-Pacific
13.4.1 China
13.4.2 India
13.4.3 Japan
13.4.4 South Korea
13.4.5 Vietnam
13.4.6 Singapore
13.4.7 Australia
13.4.8 Rest of Asia Pacific
13.5 The Middle East & Africa
13.5.1 Middle East
13.5.1.1 UAE
13.5.1.2 Egypt
13.5.1.3 Saudi Arabia
13.5.1.4 Qatar
13.5.1.5 Rest of the Middle East
13.5.2 Africa
13.5.2.1 Nigeria
13.5.2.2 South Africa
13.5.2.3 Rest of Africa
13.6 Latin America
13.6.1 Brazil
12.6.2 Argentina
13.6.3 Colombia
13.6.4 Rest of Latin America
14. Company Profiles
14.1 Advanced Chemistry Development
14.1.1 Company Overview
14.1.2 Financial
14.1.3 Products/ Services Offered
14.1.4 SWOT Analysis
14.1.5 The SNS View
14.2 BioSimulation Consulting Inc.
14.2.1 Company Overview
14.2.2 Financial
14.2.3 Products/ Services Offered
14.2.4 SWOT Analysis
14.2.5 The SNS View
14.3 Certara
14.3.1 Company Overview
14.3.2 Financial
14.3.3 Products/ Services Offered
14.3.4 SWOT Analysis
14.3.5 The SNS View
14.4 Dassault Systemes
14.4.1 Company Overview
14.4.2 Financial
14.4.3 Products/ Services Offered
14.4.4 SWOT Analysis
14.4.5 The SNS View
14.5 Genedata AG
14.5.1 Company Overview
14.5.2 Financial
14.5.3 Products/ Services Offered
14.5.4 SWOT Analysis
14.5.5 The SNS View
14.6 Chemical Computing Group ULC
14.6.1 Company Overview
14.6.2 Financial
14.6.3 Products/ Services Offered
14.6.4 SWOT Analysis
14.6.5 The SNS View
14.7 Simulation Plus
14.7.1 Company Overview
14.7.2 Financial
14.7.3 Products/ Services Offered
14.7.4 SWOT Analysis
14.7.5 The SNS View
14.8 Physiomics Plc
14.8.1 Company Overview
14.8.2 Financial
14.8.3 Products/ Services Offered
14.8.4 SWOT Analysis
14.8.5 The SNS View
14.9 Rosa & Co. LLC
14.9.1 Company Overview
14.9.2 Financial
14.9.3 Products/ Services Offered
14.9.4 SWOT Analysis
14.9.5 The SNS View
14.10 Schrodinger, Inc
14.10.1 Company Overview
14.10.2 Financial
14.10.3 Products/ Services Offered
14.10.4 SWOT Analysis
14.10.5 The SNS View
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
15.3.1 Industry News
15.3.2 Company News
15.3.3 Mergers & Acquisitions
16. Use Case and Best Practices
17. Conclusion
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