Global Biosimulation Market Set to Reach USD 20.9 Billion by 2032, Driven by Demand for New Drug Development | FMI

The global biosimulation market, valued at approximately USD 3.1 billion in 2022, is on track to experience significant growth over the next decade. With a projected compound annual growth rate (CAGR) of 21.5%, the market is expected to reach a remarkable valuation of USD 20.9 billion by 2032.

This rapid expansion is primarily driven by the increasing need for developing new drugs to address emerging and evolving diseases. As the global healthcare landscape continues to face new challenges, biosimulation technologies are becoming an essential tool for accelerating the drug development process, optimizing clinical trials, and reducing costs.

Biosimulation, which leverages advanced computer models to simulate biological processes, enables pharmaceutical companies to better predict how new drugs will behave in the human body. This capability is critical in the race to develop treatments for diseases that are becoming more complex and difficult to treat. The growing focus on precision medicine and personalized therapies is also contributing to the heightened demand for biosimulation solutions.

Industry experts believe that the increasing investments in healthcare R&D, along with advancements in computational biology and artificial intelligence, will further fuel the biosimulation market’s growth. As drug discovery becomes more reliant on cutting-edge technologies, biosimulation will play a pivotal role in shaping the future of medical science.

With its ability to enhance the efficiency and effectiveness of drug development, biosimulation is poised to revolutionize the pharmaceutical industry, offering new opportunities for innovation and improved patient outcomes.

Key Takeaways: Global Biosimulation Market Growth

• Market Value & Growth: The global biosimulation market was valued at approximately USD 3.1 billion in 2022 and is expected to grow significantly, with a projected compound annual growth rate (CAGR) of 21.5%. By 2032, the market is anticipated to reach USD 20.9 billion.
• USA: The biosimulation market in the USA is poised for substantial growth due to favorable government policies and increased healthcare expenditure driven by chronic diseases. The U.S. market is expected to reach USD 8.7 billion by 2032.
• China: China’s commitment to advancing pharmaceutical innovation and drug development, supported by government policies, is fueling the demand for biosimulation. The Chinese market is forecasted to reach USD 1.7 billion by 2032.
• United Kingdom: In the UK, the biosimulation market is expected to reach USD 880 million by 2032, with a CAGR of 20.6% from 2022 to 2032. The market is projected to generate an absolute dollar opportunity of USD 336 million.
• Japan: Japan’s biosimulation market is expected to grow rapidly, reaching USD 1.2 billion by 2032, driven by a CAGR of 25.1% during the forecast period, and an absolute dollar opportunity of USD 1.1 billion.

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Competitive Landscape

The biosimulation market is driven by several prominent players, including Certara, Dassault Systemes, Advanced Chemistry Development, Simulation Plus Inc., Schrodinger, Inc., Chemical Computing Group, Physiomics Plc, Rosa & Co. LLC, BioSimulation Consulting Inc., Genedata AG, Instem Group of Companies, PPD, Inc., Insilico Biotechnology AG, Rhenovia Pharma, LeadInvent Technologies, Nuventra Pharma, and In Silico Biosciences.

Recent developments by leading companies in the biosimulation market include:

• In June 2022, Certara launched a new version of its Biosimulation software, designed to advance the development of novel biologics. The updated version incorporates Immunogenicity (IG), Immuno-Oncology (IO), and Vaccine simulators, which help predict drug behavior and address critical questions in biologic therapy development.
• In June 2022, Genedata AG announced that Syros Pharmaceuticals selected its Genedata Profiler platform for data integration and analysis, aimed at accelerating Syros’ translational research initiatives.
• In March 2022, Advanced Chemistry Development revealed that Pharmaron Inc. had chosen its NMR processing and interpretation software to enhance their scientific capabilities.

Key Segments Covered in Biosimulation Industry Survey:

Biosimulation Market by Product Type:

• Services
  • In-house services
  • Contract services
• Software

Biosimulation Market by Deployment Mode:

• Drug Development
• Drug Discovery
• Other Applications

Biosimulation Market by End-use:

• Pharmaceutical &Biotechnology Companies
• CROs
• Regulatory Authorities
• Academic Research Institutions

Biosimulation Market by Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

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