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 US$ 1.3 billion in 2018, and is projected to exhibit a CAGR of 15.4% over the forecast period (2018 - 2026) as highlighted in a new report published by Coherent Market Insights.
Modelling and simulation (M&S) or model-informed drug development are used at every phase/ stage of drug development process. Biosimulation software is being used in pharmaceutical drug development to mimic diseases. Virtual clinical trials of new developing pharmaceutical drugs can be conducted on computers running disease simulations. By using virtual patients instead of clinical research patients can significantly save time and money in pharmaceutical companies’ drug discovery research.
Moreover, in order to avail these advantages of biosimulation, key players are increasingly using biosimulation software and services to speed up their research in rare disease management. For instance, in March 2012, Rhenovia Pharma initiated drug research programs in rare, orphan, and neglected diseases. Company aimed to expand their expertise in rare, orphan, and neglected disease such as Huntington’s disease (HD) and Duchenne muscular dystrophy (DMD) by improving diagnosis and treatment. Under these program, Rhenovia Pharma intends to build a new biosimulation platform targeted to model the 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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Furthermore, the market is expected to exhibit high growth during the forecast period, owing to various strategic acquisitions by key players in the market in 2014-2017 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.
Moreover, 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 partnership with EQT will enable Certara to strengthen their core offerings and help to uniquely positioned itself in the field of drug development.
Key takeaways of the Biosimulation Market:
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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