Biosimulation Global Market Report 2024

Biosimulation is a mathematical simulation process that uses computers to replicate biological processes and systems. The aim of biosimulation is a model-based prediction of the dynamics and behavior of biological systems.

The main types of products in the biosimulation market are software and services. The biosimulation software provides software for molecular modelling and simulation, pharmacokinetic/pharmacodynamic (PK/PD) modelling and simulation, toxicity prediction software, physiologically based pharmacokinetic modeling, and simulation (PBPK) modelling and simulation, trial design software, and others. It is used in drug development, drug discovery, and others and implemented in various verticals such as pharmaceutical and biotechnology companies, contract research organizations (CROs), regulatory authorities, academic research institutions, others.

The biosimulation market research report is one of a series of new reports that provides biosimulation market statistics, including biosimulation industry global market size, regional shares, competitors with a biosimulation market share, detailed biosimulation market segments, market trends and opportunities, and any further data you may need to thrive in the biosimulation industry. This biosimulation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The biosimulation market size has grown rapidly in recent years. It will grow from $4.03 billion in 2023 to $4.57 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The growth in the historic period can be attributed to growing complexity of diseases, rise of in silico trials, drug development cost reduction, growing complexity of diseases, rising prevalence of chronic diseases.

The biosimulation market size is expected to see rapid growth in the next few years. It will grow to $8.08 billion in 2028 at a compound annual growth rate (CAGR) of 15.3%. The growth in the forecast period can be attributed to biosimulation in rare disease research, focus on pharmacodynamics modeling, patient stratification in clinical trials, rapid growth in biopharmaceuticals, biosimulation for drug repurposing, demand for safer and more efficacious drugs. Major trends in the forecast period include digital r&d strategies, technological advancements in simulation software, biosimulation for biomarker identification, optimization of clinical trial design, digital biomarkers and endpoints, continuous advancements in computational biology.

The surge in healthcare expenditure worldwide is expected to support the biosimulation market over the forecast period. Increasing healthcare spending is likely to provide more expenditure on the development of drugs which in turn, will drive the revenues generated from the biosimulation solutions. Biosimulation software is currently being used in the development of drugs to mimic diseases. With the help of the biosimulation software, virtual clinical trials can be conducted for new developing pharmaceutical drugs using computers running disease simulations. For instance, in September 2022, according to the Centers for Medicare & Medicaid Services, a US-based federal agency, spending on health care in the United States increased by 2.7% to $12,914 per person in 2021, or $4.3 trillion. Further, spending on healthcare accounted for 18.3% of the country's GDP. Therefore, the surge in healthcare expenditure drives the biosimulation market growth.

The rising prevalence of chronic diseases is expected to propel the growth of the biosimulation market going forward. Chronic diseases are medical conditions that persist over an extended period of time, often for a person's lifetime. Biosimulation plays a crucial role in understanding the complex mechanisms underlying chronic diseases, aiding in drug development and personalized treatment strategies. For instance, in September 2023, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million fatalities, constituting 74% of the total deaths attributed to non-communicable diseases (NCDs) or chronic conditions worldwide each year. These fatalities encompassed 17.9 million deaths due to cardiovascular diseases, 9.3 million deaths related to cancer, 4.1 million deaths associated with chronic respiratory diseases, and 2.0 million deaths from diabetes. Therefore, the rising prevalence of chronic diseases is driving the growth of the biosimulation market.

Product innovation is an emerging trend in the biosimulation market. Several companies operating in the biosimulation sector are focused on developing new and advanced solutions for biosimulation. For instance, in January 2021, Insilico Biotechnology AG, a Germany-based company providing predictive solutions for the Bioeconomy launched new software called the Insilico Selector. With the help of the Insilico Selector, it is possible to use micro-scale data for the creation of an accurate selection of high-performing cell clones.

Major companies operating in the biosimulation market are focusing on cloud-based biosimulation to gain a competitive edge in the market. Cloud-based biosimulation software enables researchers to model and analyze complex biological processes remotely, facilitating collaboration and scalability in life sciences. For instance, in October 2023, Optibrium, a UK-based developer of software solutions for small molecule design, optimization, and data analysis, launched a cloud-based version of its drug discovery platform, StarDrop. The updated version maintains the full range of features and user engagement found in the desktop application. Additionally, it enhances accessibility and reduces the overall cost of ownership for clients. StarDrop, now cloud-based, is accessible from any internet-connected device, offering users a flexible way to utilize the software.

In September 2022, Cadence Design Systems Inc., a US-based computer software company acquired OpenEye Scientific Software for an undisclosed amount. With this acquisition Cadence Design Systems, Inc. is focusing on enhancing its capabilities in the field of computational molecular modeling and simulation, particularly within the realm of drug discovery and design. OpenEye Scientific Software is a US-based software company providing bio simulations software tools.

Major companies operating in the in the biosimulation market report are Certara Inc., Dassault Systèmes SE, Schrödinger Inc., Simulations Plus Inc., Rhenovia Pharma SAS, Insilico Biotechnology AG, Genedata AG, Entelos Inc., Physiomics plc, Rosa & Co. LLC., In Silico Biosciences Inc., INOSIM Software GmbH, LeadInvent Technologies Limited, Nuventra Pharma Sciences Inc., Archimedes Inc., VeriSIM Life Inc., Compugen Inc., Leadscope Inc., Pharmaceutical Product Development LLC, Advanced Chemistry Development Inc., Chemical Computing Group Inc., Immunetrics and PPD Inc., Instem India Private Limited, Evidera Inc., Biomodels LLC, PhysioStim SA, Lhasa Limited, SimBioSys Inc., Cadence Design Systems Inc., Allucent Inc.

North America was the largest region in the biosimulation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biosimulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the biosimulation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The biostimulation market includes revenues earned by entities by providing stimulation technology that provide simulations of biological processes and predict the behavior of biological systems to enhance the research and development (R&D) process. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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