The Biosimulation Market was valued for $2.45 billion in 2022 and is estimated to reach $10.57 billion by 2032, exhibiting a CAGR of 15.8% from 2023 to 2032. Biosimulation uses computer-based mathematical simulations to replicate biological processes, dynamics, and systems. Model-based predictions software such as biosimulation allow researchers to gather important data about how biological systems behave without having to conduct such tests in living organisms, including humans and animals.
Pre-clinical testing of novel medicines, lead identification and optimization, target identification and validation are some primary areas where biosimulation is being used in drug R&D. Biosimulation forms the backbone of “virtual” drug trials, whose aim is to accurately predict the way medicines and diseases behave in the body by applying principles from biology, chemistry, and pharmacology with proprietary algorithms. In addition, this work includes gathering critical insights concerning drug interactions, safe dosing, toxicity predictions, and more.
Major factors that drive the growth of the global biosimulation market include an increase in demand for drug discovery and development, rise in need for personalized medicines, and surge in technological advancement in biosimulation software and devices. For instance, in June 2022, Certara, a global leader in biosimulation, released the new versions of immunogenicity (IG), immuno-oncology (IO) and vaccine simulators to help predict how drugs work and address key questions in the development of novel biologic therapies.
Furthermore, increase in R&D investment in pharmaceutical & biotechnology industries for the development of novel drug therapies and increase in prevalence of chronic diseases such as cancer, diabetes, Alzheimer's, cardiovascular disease, kidney disorders, and various others are the major factors that increase the demand for biosimulation software and hence propel the growth of the market. In addition, rise in demand to reduce drug discovery and development costs and increase in penetration of biosimulation software in contract research organization (CROs) and academic research institutes for drug discovery and development are the major factors that boost the growth of the biosimulation market.
However, the lack of standardized formats, protocols, and interoperability between different simulation platforms and limited awareness and education about biosimulation techniques among researchers and healthcare professionals restrain the growth of the biosimulation market. On the contrary, the expanding applications and increased use of personalized medicine and biosimulation solutions for pediatric drug development are expected to provide additional opportunities for the biosimulation market to grow in the coming years.
The global biosimulation market is segmented into product, application, end user, and region. On the basis of product, the market is bifurcated into software and services. On the basis of delivery model, the market is segmented into subscription model and ownership model. On the basis of application, it is segregated into drug development, drug discovery and others. On the basis of end user, it is segmented into pharmaceutical and biotechnology companies, contract research organization (CROs) and academic and research institutes. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major players profiled in the report are Dassault Systemes, VeriSIM Life, Certara Inc, Genedata AG, SimBioSys, Physiomics PLC, INOSIM Software GmbH, Schrodinger, Inc. Simulation Plus Inc, and Cadence Design Systems, Inc. The key players such as Simulation Plus Inc, Cadence Design Systems Inc, VeriSIM Life, Certara Inc, Schrodinger Inc, and Genedata AG have adopted product launch, acquisition, collaboration, partnership, and business expansion as major developmental strategies to improve the product portfolio of the biosimulation market.
Pre-clinical testing of novel medicines, lead identification and optimization, target identification and validation are some primary areas where biosimulation is being used in drug R&D. Biosimulation forms the backbone of “virtual” drug trials, whose aim is to accurately predict the way medicines and diseases behave in the body by applying principles from biology, chemistry, and pharmacology with proprietary algorithms. In addition, this work includes gathering critical insights concerning drug interactions, safe dosing, toxicity predictions, and more.
Major factors that drive the growth of the global biosimulation market include an increase in demand for drug discovery and development, rise in need for personalized medicines, and surge in technological advancement in biosimulation software and devices. For instance, in June 2022, Certara, a global leader in biosimulation, released the new versions of immunogenicity (IG), immuno-oncology (IO) and vaccine simulators to help predict how drugs work and address key questions in the development of novel biologic therapies.
Furthermore, increase in R&D investment in pharmaceutical & biotechnology industries for the development of novel drug therapies and increase in prevalence of chronic diseases such as cancer, diabetes, Alzheimer's, cardiovascular disease, kidney disorders, and various others are the major factors that increase the demand for biosimulation software and hence propel the growth of the market. In addition, rise in demand to reduce drug discovery and development costs and increase in penetration of biosimulation software in contract research organization (CROs) and academic research institutes for drug discovery and development are the major factors that boost the growth of the biosimulation market.
However, the lack of standardized formats, protocols, and interoperability between different simulation platforms and limited awareness and education about biosimulation techniques among researchers and healthcare professionals restrain the growth of the biosimulation market. On the contrary, the expanding applications and increased use of personalized medicine and biosimulation solutions for pediatric drug development are expected to provide additional opportunities for the biosimulation market to grow in the coming years.
The global biosimulation market is segmented into product, application, end user, and region. On the basis of product, the market is bifurcated into software and services. On the basis of delivery model, the market is segmented into subscription model and ownership model. On the basis of application, it is segregated into drug development, drug discovery and others. On the basis of end user, it is segmented into pharmaceutical and biotechnology companies, contract research organization (CROs) and academic and research institutes. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major players profiled in the report are Dassault Systemes, VeriSIM Life, Certara Inc, Genedata AG, SimBioSys, Physiomics PLC, INOSIM Software GmbH, Schrodinger, Inc. Simulation Plus Inc, and Cadence Design Systems, Inc. The key players such as Simulation Plus Inc, Cadence Design Systems Inc, VeriSIM Life, Certara Inc, Schrodinger Inc, and Genedata AG have adopted product launch, acquisition, collaboration, partnership, and business expansion as major developmental strategies to improve the product portfolio of the biosimulation market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the biosimulation market analysis from 2022 to 2032 to identify the prevailing biosimulation market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the biosimulation market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global biosimulation market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Product
- Software
- Services
By Application
- Drug Development
- Drug Discovery
- Others
By Delivery model
- Subscription Model
- Ownership Model
By End User
- Pharmaceutical and Biotechnology Companies
- Contract Research Organization (CROs)
- Academic and Research Institutes
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- SimBioSys
- Physiomics Plc
- Genedata AG
- Simulations Plus, Inc.
- Cadence Design Systems, Inc.
- Certara, Inc.
- VeriSIM Life
- Schrodinger, Inc.
- Dassault Systemes
- INOSIM Software GmbH
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BIOSIMULATION MARKET, BY PRODUCT
CHAPTER 5: BIOSIMULATION MARKET, BY APPLICATION
CHAPTER 6: BIOSIMULATION MARKET, BY DELIVERY MODEL
CHAPTER 7: BIOSIMULATION MARKET, BY END USER
CHAPTER 8: BIOSIMULATION MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the biosimulation market was valued at $2.5 billion in 2022, and is estimated to reach $10.6 billion by 2032, growing at a CAGR of 15.8% from 2023 to 2032. The computer-assisted simulation of biological processes that are essential to human biology is known as biosimulation. The goal of biosimulation is to offer model-based predictions of the dynamics and behavior of a biological system. A simulation model translates the knowledge about the biological system into mathematical equations. In the initial stage of the drug development process, one is anticipated to use the simulation model to test any hypothesis and change the product in order to optimize its function or estimate the chances that a given agent is projected to function as a drug, even before the first molecule is produced. The simulation model is anticipated to be used as a vehicle to define an effective test protocol and to check that information obtained from tests is consistent.Key factors driving the growth of the biosimulation market include growing adoption of biosimulation software, technological advancements in biosimulation software and increase in demand to curtail drug development and discovery costs.
Biosimulation plays a crucial role in drug discovery and development. It enables researchers to anticipate the efficacy of possible medication candidates and enhance their qualities by simulating their effects on biological systems. It shortens the time and expense involved with conventional trial-and-error methods by modeling the interactions between medications and target molecules. Moreover, it assists in identifying relevant drug candidates.
The adoption of biosimulation software by regulatory authorities is projected to fuel market expansion. Biosimulation is being widely used to model cellular processes, diagnose disease, and modify cells. The market growth for biosimulation is being significantly accelerated by recent developments in biomedical simulation technology. The key market players in the biosimulation sector have concentrated on improving the quality of biosimulation through the use of simulation models, leveraging tools, and software engineering best practices. The trend of model engineering has gathered significant pace in recent years and is anticipated to increase impressively over the upcoming years. The existing fundamental problems with biosimulation, such as reuse, readability, and repeatability, are expected to be addressed by market participants. Major players such as Simulation Plus and Certara are being driven by the rise in demand for the market of biosimulation to concentrate on expanding their global footprint by using inorganic growth strategies.
Moreover, the process of bringing a new drug to market is time-consuming, expensive, and fraught with uncertainties. The high cost of drug discovery and development process and surge in demand to reduce the costs of drug discovery and development are the major factors that increases the demand for biosimulation software and hence propel the growth of the biosimulation market. For instance, according to the report published by Proclinica, a global leader in life science recruitment & consulting solutions in September 2020, it has been reported that with complexity of diseases becoming more apparent, it has become increasingly expensive to develop new treatments. On average top pharma companies spend around 17% of revenues on research and development, making the pharmaceutical industry one of the biggest investors in this area. This is only set to keep increasing, with a recent report stating R&D costs are expected to grow by 3% each year, reaching over $203 billion by 2024. In addition, on average it costs nearly $4 billion to develop a new medicine but is projected to sometimes exceed $10 billion. Pharmaceutical companies differ from companies in other industries as the medicine research and development process involves great risk. For instance, only one out of every 10,000 discovered compounds actually get marketing authorization.
Furthermore, the high cost of drug development is problematic for an industry being pressured to cut costs. It makes it harder to advance new ideas and create new cures. Thus, it is essential for the pharma companies to continue to evolve medicine to help improve lives and reduce the incidence of disease and save healthcare costs in the long run. These factors are anticipated to increase the demand for biosimulation software that boosts the growth of the market.
The market also offers growth opportunities to the key players in the market. The rise in demand for biosimilar software in different therapeutic applications such as rheumatoid arthritis and blood disorders and surge in awareness regarding emerging applications of biosimulation software in various fields such as defense, industrial bioprocessing, nutraceutical, and agri-food productions globally fuel the growth of the biosimulation market.
In addition, rise in the demand of personalized medicine and surge in technological advancement such as scientific breakthroughs in decoding the human genome, and data computing has increased the demand for biosimulation software and hence propel the growth of the market. For instance, according to a report published by Tata Consultancy Services in 2022, medical imaging has helped researchers generate valuable insights to treat chronic and critical diseases such as cancer. Moreover, the existing need to reduce patient morbidity and mortality drives personalized medicine initiatives to achieve an efficient mode of therapy.
Furthermore, according to a report published by the Personalized Medicine Coalition (PMC), nearly 35% of USFDA new drug approvals in 2017 were personalized medicines. Much of this observed growth in personalized medicine development initiatives is anticipated to be attributed to technological advancements that have increased the demand for biosimulation software. This has allowed the healthcare industry to successfully identify patient subgroups and engineer drugs targeted towards them. All these factors are collectively expected to open new avenues for the growth of the biosimulation market during the forecast period.
The global biosimulation market is segmented into product, application, end user, and region. On the basis of product, the market is bifurcated into software and services. On the basis of delivery model, the market is segmented into subscription model and ownership model. On the basis of application, it is segregated into drug development, drug discovery and others. On the basis of end user, it is segmented into pharmaceutical and biotechnology companies, contract research organization (CROs) and academic and research institutes. On the basis of region, it is analyzed across North America (the U. S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The report provides competitive analysis and profiles of the major players in the biosimulation market, such as Dassault Systemes, VeriSIM Life, Certara Inc, Genedata AG, SimBioSys, Physiomics PLC, INOSIM Software GmbH, Schrodinger, Inc. Simulation Plus Inc, and Cadence Design Systems, Inc.
Key Market Insights
By product, the software segment is expected to experience rapid growth in the market and is estimated to reach $7.05 billion by 2032, with a CAGR of 16.0%. However, the services segment is estimated to be growing with a significant CAGR of 15.2% during the forecast period.By application, the drug discovery segment dominated the global market. However, the drug development segment is expected to grow with a significant CAGR of 15.4% during the forecast period.
By delivery model, the ownership model segment dominated the global market. However, the subscription model segment is expected to grow with a significant CAGR of 15.1% during the forecast period.
By end user, the pharmaceutical and biotechnology companies segment dominated the global market. However, the contract research organizations segment is expected to grow with a significant CAGR of 15.8% during the forecast period.
Based on region, North America garnered the largest revenue share in 2022, whereas Asia-Pacific is anticipated to grow at the highest CAGR of 17.0% during the forecast period.
Companies Mentioned
- SimBioSys
- Physiomics Plc
- Genedata AG
- Simulations Plus, Inc.
- Cadence Design Systems, Inc.
- Certara, Inc.
- VeriSIM Life
- Schrodinger, Inc.
- Dassault Systemes
- INOSIM Software GmbH
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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