Increased focus on using advanced technology for drug development, research activities to drive the global biosimulation market, finds TMR

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ALBANY, NY, August 4, 2021 / PRNewswire / – Biosimulation is the computer-assisted simulation of biological processes fundamental to human biology. The aim of biosimulation is to provide model-based predictions of the dynamics and behavior of a biological system. In addition, huge investments in research and development activities by pharmaceutical and biotechnology companies are boosting the global biosimulation market.

Due to research initiatives and technical breakthroughs, the medical industry has seen tremendous growth in its business over the past two decades. The need for biosimulation has increased dramatically in recent years due to the shift in focus in drug research and development. Preclinical testing of new drugs, lead identification and optimization, and target identification and validation are some of the key applications where biosimulation is used.

Global Biosimulation Market Expected To Be Reached US $ 7 billion by 2030. The market was valued at 1.8 USD billion in 2019 and is expected to grow at a CAGR of 13.3% during the forecast period of 2020 to 2030.

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Main conclusions of the market report

  • Growing popularity of model engineering to help improve biosimulation models

Recent breakthroughs in the development of biomedical simulation have supported the global expansion of the global biosimulation market. In order to simulate biological processes, design cells and diagnose diseases, biosimulation is becoming more and more popular. Thus, to improve the quality of biosimulation, market players are developing simulation models using different tools and refining their mastery of software engineering. In terms of error correction, testing, construction, and design, advances in software engineering are expected to aid in the creation of various models of biosimulation.

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  • Growing interest in biosimulation to enable companies to expand and diversify their product portfolio

Many companies in the biosimulation market are expanding their services and operations to gain competitive advantage as they recognize the growing interest in biosimulation. For example, one of the leading medical product design and production companies, Switchback Medical, said it plans to expand its services by creating a new biosimulation unit, Switchback BioSim Innovations, to better serve its customers. . The company hopes to strengthen its position in the market by providing ell culture, physical training and dynamic biosimulation model building services as part of the expansion.

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Biosimulation market: growth drivers

  • Market players are expected to address the existing underlying challenges of biosimulation, such as reuse, repeatability and readability. Improvements in model engineering techniques are expected to play a vital role in the growth of the global biosimulation market in the coming years.
  • The growth in the use of biosimulation as well as modeling methods in drug development can be attributed to the increase in the application of molecular modeling for the detection of useful compounds that help improve the efficacy of drugs. while reducing drug toxicity
  • The strong US FDA recommendation to adopt biosimulation can be attributed to the increase in North America. In addition, the use of predictive biosimulation in research and development is increasingly common, and the focus on developing biosimulation platforms for manufacturing COVID-19 vaccines is likely to boost the request for biosimulation.

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Biosimulation Market: Main Competitors

  • Advanced Chemistry Development, Inc
  • Insilico Biotechnology AG
  • Dassault Systèmes SE
  • Simulations Plus, Inc.
  • Genedata SA
  • Rosa & Co. LLC.

Biosimulation market: segmentation

Type of offer

Application

  • Drug discovery
  • Drug development

Final user

  • Contract research organization
  • Pharmaceutical and biotechnology companies
  • Research institutes
  • Regulatory institutes

The modernization of healthcare in terms of infrastructure and services has pushed the healthcare industry to new heights, Stay up to date with Latest research reports on the health industry through the market study on transparency:

Drug Discovery Outsourcing Market: Key developments likely to gain momentum in the next few years in the Drug Discovery Outsourcing market include a decrease in the time used for drug development, improvement of the conversion rate of hits into leads and an increase in the number of quality compounds. As a result of these factors and the changing economic landscape, the global drug discovery outsourcing market is expected to reach ~ US $ 12.7 billion by the end of 2030.

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