Global Biosimulation Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

5 Oct, 2021

The biosimulation market consists of sales of biosimulation software and services by entities (organizations, sole traders, and partnerships) that are engaged in garnering a better understanding of biological processes using computer simulations. Biosimulation is a mathematical simulation process that uses computers to replicate biological processes and systems. The aim of biosimulation is a model-based prediction of the dynamics and behavior of biological systems.

Global Biosimulation Market Size And Drivers:

The global biosimulation market is expected to grow from $2.71 billion in 2020 to $3.17 billion in 2021 at a compound annual growth rate (CAGR) of 17.1%. The change in growth trend of the biosimulation market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The biosimulation market is expected to reach $5.29 billion in 2025 at a CAGR of 13.7%. The surge in healthcare expenditure worldwide is expected to support the biosimulation market over the forecast period. Increasing healthcare spending is likely to provide more expenditure on the development of drugs, which in turn will drive the revenues generated from the biosimulation solutions.

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Trends In The Global Biosimulation Market

Product innovation is an emerging trend in the biosimulation market. Several companies operating in the biosimulation sector are focused on developing new and advanced solutions for biosimulation. For instance, in January 2021, Insilico Biotechnology AG, a Germany-based company providing predictive solutions for the Bioeconomy launched new software called the Insilico Selector. With the help of the Insilico Selector, it is possible to use micro-scale data for the creation of an accurate selection of high-performing cell clones.

Global Biosimulation Market Segments:
The global biosimulation market is further segmented –
By Product: Software, Services
By Application: Drug Development, Drug Discovery, Others
By End User: Pharmaceutical And Biotechnology Companies, Contract Research Organizations (CROs), Regulatory Authorities, Academic Research Institutions, Others
By Geography: The global biosimulation market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American biosimulation market accounts for the largest share in the global biosimulation market.

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Biosimulation Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides biosimulation market overviews, analyzes and forecasts market size and growth for the global biosimulation market, biosimulation market share, biosimulation market players, biosimulation market segments and geographies, biosimulation market’s leading competitors’ revenues, profiles and market shares. The biosimulation market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.