Bio Simulation Market Expected to Reach USD 8.99 Billion by 2030: Verified Market Research®

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Apr 13, 2023, 10:15 ET

Verified Market Research® provides a comprehensive analysis of the market share, market ranking analysis, product benchmarking, and SWOT analysis of these key players. The report also provides an in-depth analysis of the global Bio Simulation Market, including its growth prospects, market trends, and market challenges

JERSEY CITY, N.J., April 13, 2023 /PRNewswire/ -- The global Bio Simulation Market is projected to grow at a CAGR of 16.20% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 2.33 Billion in 2021 and is expected to reach USD 8.99 Billion by the end of the forecast period.

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Browse in-depth TOC on "Bio Simulation Market"

202 - Pages
126 – Tables
37 – Figures

Global Biosimulation Market Driven by Demand for Cost Reduction in Pharmaceuticals

Biosimulation is becoming increasingly essential in drug development and discovery processes as it provides insight into how medications will affect the biological body. The biosimulation market is primarily being driven by the increasing demand for cost reduction in pharmaceuticals. Biosimulation solutions are being utilized extensively based on the number of generic medications and ongoing clinical research.

Biosimulation uses a collection of various products such as a range of models, tools, and languages, which take note of various steps of biological processes. The applications of biosimulation in oncology are also increasing the use of biosimulation by pharmaceutical companies.

According to a new market research report published by Verified Market Research, the global biosimulation market is expected to grow at a CAGR of 16.20% during the forecast period of 2023-2030. The report includes product benchmarking and SWOT analysis, key development strategies, market share, and market ranking analysis of the key players in the market.

The key players in the biosimulation market include Insilico Biotechnology, INOSIM Software, Evidera, Chemical Computing Group, Certara, Simulations Plus, ACD/Labs, Dassault Systèmes, Nuventra Pharma, and Genedata.

Certara and Memorial Sloan Kettering Cancer Center, for example, launched a two-year partnership. To develop a Bio Simulation framework for chimeric antigen receptor T-cell treatment, Certara will collaborate with the MSK Innovation Hub.

The report further reveals that North America is expected to hold the largest share of the biosimulation market due to the presence of major pharmaceutical companies in the region. The Asia Pacific region is also expected to witness significant growth during the forecast period, primarily driven by the increasing demand for biosimulation in drug development processes.

In summary, the biosimulation market is experiencing significant growth driven by the demand for cost reduction in pharmaceuticals. Key players in the market are continuously developing innovative biosimulation solutions, and the North America region is expected to hold the largest market share.

Based on the research, Verified Market Research® has segmented the global Bio Simulation Market into Product And Services, Application, End-User, And Geography.

Bio Simulation Market, by Product And Services

Software
Services

Bio Simulation Market, by Application

Drug Development
Drug Discovery
Others

Bio Simulation Market, by End-User

Pharmaceutical and Biotechnology Companies
Research Institutes
Contract Research Organizations
Regulatory Authorities
Other

Bio Simulation Market, by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

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