Biosimulation Market 2020 Predominantly Boosted with CAGR of 15.4% by the Rising Global Economy; CMI Revealing Industry Analysis To 2026
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The Global Biosimulation Market, by Product & Services (Software and Services), by Application (Drug Discovery and Drug Development), By End User (Pharmaceutical & Biotechnology Organizations, Contract Research Organizations (CROs), and Academic Research Institutions), was valued at US$ 1.3 billion in 2018 and is projected to exhibit a CAGR of 15.4% over the forecast period (2018 – 2026).
Modelling and simulation (M&S) or model-informed drug development finds application at every phase/ stage of drug development process. In pharmaceutical drug development, diseases are mimicked using biosimulation software. By running disease simulations, virtual clinical trials of newly developed pharmaceutical drugs can be carried out in computers. The usage of this software helps to save time and money invested in the research of drug discovery by pharmaceutical companies. Also, major players are increasingly using biosimulation software and services in order to speed up their research in rare disease management and utilize the advantages of biosimulation.
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For instance, in March 2012, Rhenovia Pharma initiated drug research programs for rare, orphan, and neglected diseases. The company aimed to expand its expertise in rare, orphan, and neglected diseases such as Huntington’s disease (HD) and Duchenne muscular dystrophy (DMD) by improving diagnosis and treatment. Under these programs, Rhenovia Pharma plans to build a new biosimulation platform with the aim of modeling a complex structure between biological mechanisms in striatum, the brain region, which is most affected in HD.
Browse 21 Market Data Tables and 24 Figures spread through 159 Pages and in-depth TOC on “Biosimulation Market, by Product & Services (Software and Services), By Application (Drug Discovery and Drug Development), By End User (Pharmaceutical & Biotechnology Organizations, Contract Research Organizations (CROs), and Academic Research Institutions) – Global Forecast to 2026”
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The adoption of various strategies such as acquisition by key market players is expected to drive the market growth during the forecast period. For instance, in April 2014, Dassault Systèmes successfully completed the acquisition of Accelrys, Inc., a leading provider of scientific innovation lifecycle management software for chemistry, biology, and materials. Accelrys’ acquisition helped Dassault Systèmes to enhance its molecular chemistry capabilities, which is used in drug discovery and regulatory requirements of Dassault Systèmes’ formulation-based industry offerings such as life sciences, consumer packaged goods, high tech and energy, and advanced manufacturing industries. Moreover, in May 2014, after the completion of Accelrys’ acquisition, Dassault Systèmes launched its new brand BIOVIA, which is a combination of Dassault Systèmes’ BioIntelligence and 3DEXPERIENCE technologies and Accelrys’ life sciences and material sciences applications. Also, in July 2017, EQT AB announced plans to acquire Certara, L.P., a leading provider of model-informed drug development technology and services, for a deal value of US$ 850 million. This new strategic acquisition with EQT will help Certara in strengthening its core offerings and strengthening its position in the field of drug development.
Key takeaways of the Biosimulation Market:
- The global biosimulation market is expected to expand at a CAGR of 15.4% during the forecast period (2018 – 2026). This is attributed to increasing demand for new drug development and discovery processes.
- Among product & services, software segment is expected to register highest CAGR over the forecast period, owing to the availability of wide range of application-specific software, which suits interests and needs of researchers. For instance, Rhenovia Pharma, a biosimulation company engaged in pharmaceutical research and development process, offers range of biosimulation software that specializes in simulation of CNS mechanism in specific drugs. The software is largely being used in applications such as defense, food, aviation, and others.
- Among application, drug development segment accounted for the largest market share in 2017. The segment growth is owing to increasing number of research funds that promote incorporation of advanced software in biosimulation market. For instance, in April 2010, Rhenovia Pharma received US$ 3.4 million contract to advance its Rhenepi project on antiepileptic drug development.
- Among end user, pharmaceutical & biotechnology organizations segment accounted for the largest market share in 2017. The segment growth is attributed to increasing demand for biosimulation software in these organizations for prolonging lifecycles of off-patent drugs and discovering new drug variants by adopting computer modelling approach.
- Key players operating in the global biosimulation market include Certara, L.P., Simulations Plus, Inc., Dassault Systèmes (Accelrys), Genedata AG, LeadScope, Inc., Compugen Inc., Schrödinger, LLC, In Silico Biosciences, Inc., Advanced Chemistry Development, Inc., Chemical Computing Group ULC, Physiomics PLC, and Pharmaceutical Product Development, LLC (Evidera).
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