Developing a new drug requires a significant amount of research and resources. Every stage of the drug development process, from clinical trials to approval, has a very high failure rate. Bio simulation can significantly reduce these chances. Biosimulation not only helps predict the chances of a drug failing during the development process but also lowers the cost of any other possible failures by reducing the number of clinical experiments.
Frequently Asked Questions
The market is segmented based on Segmentation, By Product and Service (Software, Molecular Simulation, In House, Contract Services), Application (Drug Development, Drug Discovery, Other Applications), Delivery Model (Subscription Models, Ownership Models), End User (Biotech, Pharma Companies, Contract Research Organizations (CROs), Regulatory Authorities, Other End Users) – Industry Trends and Forecast to 2031.
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The Global Biosimulation Market size was valued at USD 1.57 USD Billion in 2023.
The Global Biosimulation Market is projected to grow at a CAGR of 24.1% during the forecast period of 2024 to 2031.
The major players operating in the market include Certara, Simulations Plus, Dassault Systèmes, Schrödinger , ACD/Labs, Chemical Computing Group, Physiomics, Evidera, In silico biosciences, INOSIM Software, Insilico Biotechnology, LeadInvent Technologies, Rosa, Nuventra Pharma,.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
