Global Biosimulation Market Size (2024 - 2029)

The biosimulation market is experiencing significant expansion, driven by its critical role in drug development and its ability to reduce the likelihood of failures during clinical trials. The COVID-19 pandemic accelerated this growth as the technology proved essential in vaccine development, leading to increased utilization. Pharmaceutical companies and research firms are increasingly adopting biosimulation to lower costs and shorten trial durations, further propelling the market. The introduction of new technologies by key players is also contributing to the market's expansion, as biosimulation becomes increasingly integral to healthcare research and development.

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Market Size of Global Biosimulation Industry

Biosimulation Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 10.00 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Biosimulation Market Major Players

*Disclaimer: Major Players sorted in no particular order

Biosimulation Market Analysis

Biosimulation Market is poised to grow at a CAGR of 10% during the forecast period (2022-2027). The development of a new drug involves a considerable amount of research and resources. In the process of drug development, from clinical trials to approval, every stage has a very high chance of failure. These changes can be significantly reduced by biosimulation.

During the COVID-19 pandemic, the biosimulation market has witnessed significant growth owing to the significance of this technology in the study of drug development and how it works with the human body. Hence, during the vaccine development for COVID-19, biosimulation helped significantly. For instance, when COVID-19 was declared as a pandemic, Certara, a company that provides biosimulation technology started providing its services to the companies developing a vaccine. Hence, the utilization of biosimulation was higher during the pandemic which fueled the market growth.

Biosimulation not only helps in predicting the chances of failure of a drug in the development process but also reduces the cost of any other possible failures by shrinking the set of clinical experiments. Pharmaceutical giants (such as Pfizer, Merck, Novartis, etc.) and research firms (such as Johnson Pharmaceutical Research & Development) have been employing services offered by biosimulation software and service-providing companies to reduce the trial duration and the high cost involved with failures. High drug discovery and development cost is expected to drive this market with a high growth rate for years to come.

New technologies that are being implemented by key companies are also accelerating the market for biosimulation. For instance, Certara brought a novel technology in the year 2022 that can be beneficial to understanding the challenges in drug discovery and development with complex biologics. In addition, biosimulation is largely being used in healthcare research and development which is propelling the market growth.

Biosimulation Industry Segmentation

As per the scope of the report, Biosimulation refers to the modeling and simulation of complex biological processes and systems to understand their functions and physiologies at the molecular level. The Biosimulation Market is segmented By Product (Software, Service), Application (Preclinical and Clinical Development, Drug Discovery, and Others), End-User (Pharmaceutical and Biotechnology Companies, Contract Research Organizations, Others), and Geography (North America, Europe, Asia Pacific, Middle East, and Africa, South America). The report offers the value (in USD million) for the above segments. The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally.

By Product
Software
Services
By Application
Preclinical and Clinical Drug Development
Drug Discovery
Others
By End User
Pharmaceutical and Biotechnology Companies
Contract Research Organizations
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America
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Global Biosimulation Market Size Summary

The biosimulation market is experiencing significant growth, driven by its critical role in drug development processes. This technology helps mitigate the high failure rates and costs associated with clinical trials by predicting drug behavior and reducing the need for extensive clinical experiments. The COVID-19 pandemic accelerated the adoption of biosimulation, as seen with companies like Certara providing essential services for vaccine development. Pharmaceutical giants and research firms are increasingly utilizing biosimulation to streamline drug discovery and development, which is expected to sustain the market's robust growth. The introduction of advanced technologies, such as those by Certara, further propels the market by addressing challenges in developing complex biologics.

The market is characterized by a strong presence in North America, particularly the United States, due to its established healthcare infrastructure and high investment in pharmaceutical research and development. The demand for biosimulation software is rising, supported by its widespread adoption among leading pharmaceutical companies and research institutions. Companies like Entelos and Simulations Plus, Inc. are contributing to market expansion by offering predictive technologies that enhance drug development efficiency. The biosimulation market is moderately concentrated, with global players like Certara, L.P., and Schrödinger, LLC, leading the way. Recent advancements and regulatory approvals, such as those for the DILIsym software platform, are expected to further drive market growth during the forecast period.

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Global Biosimulation Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Healthcare Expenditure

      2. 1.2.2 Growing Adoption of Biosimulation Software

      3. 1.2.3 High Drug Discovery and Development Costs

    3. 1.3 Market Restraints

      1. 1.3.1 Lack of Awareness Among Healthcare Professionals

      2. 1.3.2 Lack of Skilled Personnel

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product

      1. 2.1.1 Software

      2. 2.1.2 Services

    2. 2.2 By Application

      1. 2.2.1 Preclinical and Clinical Drug Development

      2. 2.2.2 Drug Discovery

      3. 2.2.3 Others

    3. 2.3 By End User

      1. 2.3.1 Pharmaceutical and Biotechnology Companies

      2. 2.3.2 Contract Research Organizations

      3. 2.3.3 Others

    4. 2.4 Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Mexico

      2. 2.4.2 Europe

        1. 2.4.2.1 Germany

        2. 2.4.2.2 United Kingdom

        3. 2.4.2.3 France

        4. 2.4.2.4 Italy

        5. 2.4.2.5 Spain

        6. 2.4.2.6 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 China

        2. 2.4.3.2 Japan

        3. 2.4.3.3 India

        4. 2.4.3.4 Australia

        5. 2.4.3.5 South Korea

        6. 2.4.3.6 Rest of Asia-Pacific

      4. 2.4.4 Middle-East and Africa

        1. 2.4.4.1 GCC

        2. 2.4.4.2 South Africa

        3. 2.4.4.3 Rest of Middle-East and Africa

      5. 2.4.5 South America

        1. 2.4.5.1 Brazil

        2. 2.4.5.2 Argentina

        3. 2.4.5.3 Rest of South America

Global Biosimulation Market Size FAQs

The Global Biosimulation Market is projected to register a CAGR of 10% during the forecast period (2024-2029)

Certara, L.P., In Silico Biosciences, Inc., Pharmaceutical Product Development, LLC, Schrödinger, LLC and Simulations Plus, Inc. are the major companies operating in the Global Biosimulation Market.

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