The Global Market for Biosimulation Technology is Projected to Reach US$2.3 Billion by 2020

Demand for Effective Drug Discovery & Development Drives the Global Market for Biosimulation Technology, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Biosimulation Technology market. The global market for Biosimulation Technology is projected to reach US$2.3 billion by 2020, driven by its ability to dramatically cut costs and time associated with traditional drug discovery and development.

The biggest healthcare challenge faced by governments and societies is to reduce the exponentially growing cost of healthcare. Pharmaceutical R&D is among the highest expenditure-incurring areas, on account of high investments, need for multiple rounds of clinical trials, and failure of most drugs in late-stage clinical trials. The onus lies on drug manufacturers to drastically reduce their R&D expenditure, increase success rate of developed drugs, and decrease time-to-market. Biosimulation or in silico biology, which translates the knowledge of biological systems into computer-aided models, is being looked at as a paradigm shift in the drug discovery and development. Biosimulation represents an advanced technology that uses computer models to simulate physiological and pathological processes, thus enabling an understanding of clinical outcomes of a drug much before human trials are conducted. Preceding clinical trials with computer simulation allows for better experimental control with minimal risk. Biosimulation also minimizes unnecessary costs, and benefits pharmaceutical industry stakeholders.

The global market for biosimulation is driven by the high incidence of chronic diseases & demand for therapeutic solutions, aging population & its susceptibility to disease, and most importantly, the strong industry need to cut down on costs associated with drug discovery, and bring them to market sooner. The market is also witnessing increasing partnerships among pharmaceutical players, a move which is expected to further lead innovation in the biosimulation technology. Pharmaceutical players are also using in silico modeling to confirm hypotheses about a drug’s usage for new indications. This greatly supports the industry’s trend of drug repositioning or drug repurposing, where already approved drugs are researched for new indications. Biosimulation is also being applied in grid-based drug discovery and development programs to validate in-silico docking of several ligands in a short time. Simulation models are also capable of better predicting the toxicity and efficacy of a drug to minimize adverse drug reactions (ADR).  However, the industry is challenged by lack of standardization of tools and databases, and inaccuracies in prediction leading to risk of failure of drugs.

As stated by the new market research report on Biosimulation Technology, the United States represents the largest market worldwide. The country also ranks as the fastest growing market with a CAGR of 22.8% over the analysis period, led by the increased focus of pharmaceutical companies on new drug development, and the overall need to cut down on drug R&D expenditure.

Major players in the market include Advanced Chemistry Development Inc. (ACD/Labs), Biovia, Certara L.P., Chemical Computing Group, Entelos Inc., In Silico Biosciences Inc., InhibOx, Insilico Biotechnology AG, LeadInvent Technologies, Leadscope Inc., Nimbus Therapeutics, OpenEye Scientific Software Inc., Physiomics Plc., Rhenovia Pharma SAS, Schrodinger LLC,  and Simulations Plus Inc., among others.

The research report titled “Biosimulation Technology: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific, Latin America, and Rest of World.

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