A research study titled, “Biosimulation Market by Product, Application, and End User - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the biosimulation market is projected to be around $4 billion by 2025.
A typical drug discovery and development cycle, which encompasses the time taken for discovery of a new drug and its delivery to the market, may easily take up to 10 to 15 years. The process of drug discovery which starts with discovering a new drug molecule to registering the drug for marketing and commercialization is a very lengthy and complex process. Heavy capital investment, considerable amount of time and series of clinical trials are required before a drug is registered for human use. FDA launched the Critical Path Initiative (CPI), in 2004, to promote innovation in scientific processes by which medical products are developed, examined and manufactured.
Biosimulation is one such promising notion to drug discovery and development. It has been developed in order to avoid the hurdles in discovery and development of a new drug by traditional processes. It promises tremendous benefits saving both money and time and improves the predictability in early stage of the drug development. In biosimulation, the relationships between different biological elements are represented using differential equations utilizing simulation techniques to predict the behavior of the biological system and status of biological elements over time.
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Rise in cases of chronic diseases such as diabetes, high drug resistance exhibited by certain disease related pathogens, and rapidly aging population worldwide are some of the factors encouraging biosimulation market. Moreover, high drug failure rate and availability of advanced modeling and simulation tools will further contribute to the market growth.
In 2016, the software segment accounted for over half of the global market,due to the high accuracy of computer modeling in biosimulation to improve drug molecules. In terms of applications, the drug discovery marketis expected to show an impressive growth rate over the forecast period due to the benefits of biosimulation processesin assisting the researchers in identifying critical gaps that hamper the drug discovery process.
Pharmaceutical and biotechnology companiessegment held more than half of the global market in 2016. This large share can be attributed to the rising acceptance of in silico models (biological experiments performed entirely by means of a computer) for drug discovery and development. Large numbers of pharmaceutical and biotechnology companies are aggressively using computer models to create more advanced and effective drug variants. For example, in January 2017, Certara, the global biosimulation drug development company, announced the release of version 16 of its Simcyp Population-based Simulator, which is one of the most sophisticated platforms to determine first in-human dose selection.
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U.S. accounted for the major share of the North American market in 2016, due to the high prevalence of chronic diseases, rapidly growing elderly population, which is more prone to these diseases and are in need of treatment options such as drugs, and strategic collaborations among leading players. For instance, Certara in September 2016 acquired Australia based d3 Medicine to strengthen their ability to deliver optimized drug development plans to their clients.Also, there is rise in research activities on biosimulation in the region which will facilitate the market growth. For instance, in April 2016, Certara launched an e-learning platform under Certara University to facilitate education in the field of biosimulation and model based drug development. Emerging economies in Asia-Pacific biosimulation market will exhibit the fastest growth in the forecast period due to emphasis on research and development initiatives and rising focus of international playerson the emerging markets. For instance, in January 2016, Certara launched a strategic drug development consulting company in China, named, Certara Strategic Consulting.
The competitive market for biosimulation is driven by strategic collaborations and acquisitions by leading players to strengthen their research and development capabilities and to expand their existing product portfolio. For instance, in late December 2015, Certaraacquired XenologiQ, a UK based quantitative systems pharmacology (QSP) firm, to strengthen its modeling and simulation capabilities. Some of the leading players in biosimulation market are, Certara USA, Inc., DassaultSystèmesSA, Accelrys, Compugen, Rhenovia Pharma, Leadscope Inc., Simulations Plus, Inc. and Evidera, Inc.
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Key Findings of the Research Study:
· The biosimulation market will be majorly driven by rise in chronic disease incidence such as cancer and diabetes, increasing prevalence of geriatric population, high drug resistance by certain disease related pathogens and high drug failure rate.
· The services segment will exhibit favorable growth over the forecast period as more and more pharmaceutical companies are beginning to outsource their biosimulation processes in order to reduce costs and focus on core competencies.
· North America held a major share of the biosimulation market in 2016, commanding over more than half of the market. Due to presence of highly skilled professionals and research infrastructure along with presence of regulatory authorities ensuring patient safety, this market will show promising growth over the forecast period.
· Asia-Pacific market will exhibit the fastest growth rate during the forecast period due to rapidly improving healthcare infrastructure and growing Healthcare IT expenditure.
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Biosimulation market is segmented as follows:
o In-house Services
o Contract/External Services
o Toxicity Prediction Software
o Molecular Modeling and Simulation Software
o Trial Design Software
o PK/PD Modeling and Simulation Software
o PBPK Modeling and Simulation Software
o Other Software (QSP, Visualizing and Analytical Software)
· Drug Discovery
o Target Identification and Optimization
o Lead Identification and Optimization
· Drug Development
o In Patient Validation
o Preclinical Testing and Clinical Trials
By End User:
- Regulatory Authorities
- Pharmaceutical & Biotechnology Companies
- Academic Research Institutions
- Contract Research Organization
- Other End Users
- North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
- Rest of the World
o Saudi Arabia
o United Arab Emirates
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About Crystal Market Research
Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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