Biosimulation Market Report 2025 Industry Research, Share, Trend

Posted by vinit sawant on March 24th, 2021

Market Highlights

According to MRFR analysis, Biosimulation Market sizeis expected to register a CAGR of 15.9% during the forecast period of 2019 to 2025 and is likely to be valued at USD 4.4 Billion by 2025.  

Biosimulation is a tool used for the prediction of the outcomes of existing clinical trials associated with innovation and new drug development.

The growth of the Global Bio simulation Market is determined by numerous factors such as the growing adoption of biosimulation software by regulatory bodies, increasing healthcare expenditure, increasing use of pharmacokinetic & pharmacodynamic modeling in pre-clinical development and rising need to reduce the drug development costs. However, lack of standardization in biosimulation methodology and lack of trained professionals for monitoring biosimulation software are likely to hamper the growth of the global biosimulation market during the forecast period.  

Several market players currently dominate the Global Biosimulation Market. The key players are involved in product launches and strategic collaborations to strengthen their market positions. For instance, in September 2019, Certara Inc. launched version 8.2 of Phoenix, the most advanced and widely used validated software for PK, PD, and toxicokinetic modeling and simulation worldwide.

Regional Analysis

The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

Americas has been segmented into North America and Latin America, with the North American market being divided into the US and Canada. The Americas is projected to hold the largest market share owing to the increasing R&D spending by pharmaceutical and biotechnology companies in the region and growing number of clinical trials & drug development practices.