A recent report published by Infinium Global Research on bio simulation market provides an in-depth analysis of segments and sub-segments in the global as well as regional bio simulation market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional bio simulation market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global bio simulation market. According to the report, the global bio simulation market is projected to grow at a CAGR of 16.5% over the forecast period of 2020-2026.
Bio simulation is an advanced technology used for the simulation of biological processes through computer programming. Bio simulation provides a defined approach for integrating the clinical and biological data into effective metabolic pathways and has a wide range of applications such as obtaining a quantitative understanding of regulation of blood levels and glucose simulated insulin secretion in order to investigate the role the various physiological processes play in diabetes and others. Bio simulation finds wide range of application in target identification & validation, lead discovery & optimization, preclinical testing and clinical trials. The current concerns over the spread of coronavirus infection are creating a major demand for bio simulation in the global market.
The impact of the COVID 19 pandemic on bio simulation market is expected to be noteworthy as more countries resort to continuous research to control the spread of the disease. Global health care facilities have become overburdened with potentially infectious patients seeking testing and care. Furthermore, as preventing the spread of infection, healthcare system and government majorly investing in new drug development and the traditional process of drug discovery is very complex and lengthy. While the key value of bio simulation comes from understanding clinical outcomes in discovery or development well before any human trial occurs. This will be beneficial for the vaccine manufacturers who are involved in developing vaccines against COVID-19, by the time a vaccine is ready for mass production. Currently, as the entire health care system is primarily focused on treating and developing vaccines for this virus, the major bio simulation service providers across the globe will experience significant growth during the 2020 COVID-19 outbreak. In addition, the rising government funding in R&D to control and contain the virus is also anticipated to drive the adoption of bio simulation in research facilities.
Increased healthcare spending, growing demand for advanced therapeutics, and increased use of personalized medicines are the major driving factors for the growth of bio simulation market. Rising demand for bio simulation for finding various therapeutic approaches on different categories of people and a better understanding of disease heterogeneity will increase the demand for bio simulation. Factors such as increasing investments by the pharmaceutical and biotechnology industries for technological innovations and the introduction of modeling tools and advanced computer technologies are contributing to the growth of the market. However, a lack of trained professionals may hamper the bio simulation market growth. Furthermore, rising clinical requirements on the development of advanced drugs and growing focus on R&D activities will offer lucrative opportunities for the growth of bio simulation in the near future.
Geographically, North America held the largest share in bio simulation market in 2019. The US is a key revenue generator in North America bio simulation market. The factors such as an increase in investments in new drug development and rising focus on partnership and M&A activities will increase the demand for bio simulation software’s in this region. However, Asia Pacific will witness a rapid growth in the market owing to the increasing demand for technologically advanced software for drug discovery in the region. Moreover, the growing healthcare infrastructure in Asian countries is expected to escalate the demand for bio simulation over the forecast period.
The report on global bio simulation market covers segments such as product, application, and end-user. On the basis of product, the sub-markets include software, and service. On the basis of application, the sub-markets include preclinical testing, and clinical trials. On the basis of end-user, the sub-markets include biotech, pharma companies, CROs, and regulatory bodies.
The report provides profiles of the companies in the market such as Certara USA, Inc., Simulation Plus Inc., Dassault Systèmes SA, Medtronic plc, Chemical Computing Group, Inc., Advanced Chemistry Development, Inc., Entelos Holding Corporation, Genedata Ag, Physiomics PLC, and Rhenovia Pharma Ltd..
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of bio simulation market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.