30 April 2020
Visiongain has launched a new pharma report Biosimulation Market Report 2020-2030: Forecasts by Product (Software, Services (In-house Services & Contract Services), Application (Drug Discovery, Drug Development, Others), End Use (Pharmaceutical & Biotechnology Companies, Academic Research Institutions, Regulatory Authorities, CROs), and Geography (North America, Latin America, Europe, Asia Pacific, MEA).
The global biosimulation market is anticipated to grow at a lucrative CAGR of xyz% and anticipated to reach USD xyz billion by 2020. Visiongain anticipates that the global biosimulation market is projected to grow on account of the growing adoption of biosimulation software by regulatory bodies, rising development of biologics & biosimilar, and growing usage of personalized medicines among other growth contributing factors.
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BioPharma is plagued by large failure levels in clinical trials resulting in unacceptably low FDA acceptance rates and correspondingly large R&D costs. A major reason for this is the complexity of the disease and the lack of a full understanding of the mechanism by which the drug works. Although clinical trials attempt to select a homogeneous population, heterogeneity of the disease and drug complexity result in a high rate of failure.
Much of the manufactured goods, be they a semiconductor device, a fighter aircraft, or a drug-eluting stent, are designed and tested in software during their design process before being transported to production and production. This prevents expensive trial-and-error.
In brief, biosimulation is the capacity to anticipate the phenotype reaction of a human cell to external stimuli, such as a drug ligand or radiation. We use this tool to assess the patient's Therapy Reaction Table or TRI. The TRI care-naïve patient decides how the patient can respond to standard medication. For relapsed or refractory patients, TRI decides the optimal combination of approved FDA medications to which the patient can react.
In the year 2019, North America dominated the global biosimulation market owing to the presence of major pharmaceutical and biotechnology firms. The region is anticipated to continue its dominance over the forecast period owing to the growing number of research projects in the region, coupled with funding for research institutes from the government. Also, the market will continue to be driven by the existence of the target population, growing usage of personalized medicines, and increased R&D investment by important business organizations. Asia Pacific region is expected to experience the highest growth in terms of CAGR over the forecast period owing to the growing presence of cancer cases in markets such as India and China. Additionally, unmet needs of patients and untapped nations in this region have been attracting investments by global players and this is expected to boost the Biosimulation Market growth over the forecast period.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations, and launching new products to strengthen their position in the global biosimulation market. Companies are also expanding their R&D, distribution, and management facilities to expand their business and to hold a competitive edge in the Biosimulation Market.
The comprehensive market report features companies such as Advanced Chemistry Development, Inc., Certara USA, Inc., Chemical Computing Group, Inc., Dassault Systems SA, Entelos, Inc., Evidera, Inc., Genedata AG, InhibOx Ltd., Insilico Biotechnology AG, LeadInvent Technologies Pvt. Ltd., Leadscope, Inc., Physiomics PLC, Schrodinger, Inc., Simulation Plus, Inc., Rhenovia Pharma Ltd. among other prominent players. Also the research study offers market estimation and forecast for the period ranging 2020-2030 for global markets such as North America, Latin America, Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Russia, India, Japan, China, Australia, ASEAN, GCC and South Africa.
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