The global biosimulation market size was estimated to be USD 3.46 billion in 2023 and is expected to reach USD 19.44 billion by 2034 with a CAGR of 16.98% during the forecast period 2024-2034. Rising R&D spending in the pharmaceutical and biotechnology industries, growing adoption of biosimulation software by regulatory bodies, technological advancements in biosimulation tools, the need to reduce drug development costs and time, and growth in the biologics and biosimilars markets will drive the market growth.
The pharmaceutical sector is one of the most research-and-development-intensive industries in the world, and this trend is projected to continue. Companies are increasingly turning to biosimulation as a beneficial tool as they attempt to create new treatments and cures faster and more efficiently. For instance, in July 2023, Certara purchased Simulations Plus, Inc., a significant leader in physiologically based pharmacokinetic (PBPK) modeling and simulation, boosting its products and cementing its market position.
By product, the software segment accounted for the highest revenue-grossing segment in the global biosimulation market in 2023 owing to the advanced features and functionalities incorporated into biosimulation software platforms. These cutting-edge software solutions enable researchers and pharmaceutical companies to conduct intricate simulations, model complex biological processes, and analyze large datasets with enhanced precision. For instance, in October 2023, Dassault Systèmes joined with Medtronic to develop and execute biosimulation technologies for customized medical device design and development. Additionally, the services segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing recognition of the value-added services offered by biosimulation service providers. As pharmaceutical and biotechnology companies strive to optimize their drug development processes, they are turning to specialized services that go beyond standalone software solutions.
By application, the drug development segment accounted for the highest revenue-grossing segment in the global biosimulation market in 2023 owing to the increasing complexity and cost associated with traditional drug development processes. Biosimulation has emerged as a crucial tool within the pharmaceutical industry, offering a more efficient and cost-effective approach to predicting drug behavior, optimizing dosages, and identifying potential safety concerns in the early stages of development. For instance, Schrödinger announced a cooperation with Merck KGaA in December 2023 to use its biosimulation platform for the identification and development of innovative drug candidates. Additionally, the drug discovery segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for innovative and targeted therapies, driving increased investment in early-stage research and development. Biosimulation plays a pivotal role in accelerating drug discovery by offering predictive modeling of biological systems, allowing researchers to assess potential drug candidates more efficiently.
By delivery mode, the subscription models segment accounted for the highest revenue-grossing segment in the global biosimulation market in 2023 owing to the growing preference among businesses for flexible and cost-effective access to biosimulation tools and services. For instance, in November 2023, Biovia launched its Biovia Connected Platform v2024, which has better biosimulation capabilities for simplified drug development procedures. Additionally, the ownership model segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for long-term control, customization, and proprietary use of biosimulation tools.
By end-user, the pharmaceutical and biotechnology companies segment accounted for the highest revenue-grossing segment in the global biosimulation market in 2023 owing to the escalating need for efficient drug development processes and cost-effective solutions within the pharmaceutical and biotechnology sectors. For instance, Insilico Biotechnology AG announced the creation of a revolutionary AI-driven pipeline for finding small molecule therapeutic candidates in October 2023, highlighting their ongoing innovation in drug discovery. Additionally, the CROs segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing outsourcing trend in the pharmaceutical and biotechnology industries, as Contract Research Organizations (CROs) increasingly recognize the value of biosimulation in providing cost-effective and specialized services.
North American region is anticipated to have the highest revenue share during the forecast period owing to the robust presence of established pharmaceutical and biotechnology companies, a well-established healthcare infrastructure, and significant investments in research and development activities. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rapid expansion of the pharmaceutical and biotechnology sectors, increasing investments in healthcare infrastructure, and a growing emphasis on drug development and research activities. For instance, Evidera expanded its worldwide reach in August 2023 by purchasing two biosimulation firms in Europe, boosting their service offering and geographic presence.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
The pharmaceutical sector is one of the most research-and-development-intensive industries in the world, and this trend is projected to continue. Companies are increasingly turning to biosimulation as a beneficial tool as they attempt to create new treatments and cures faster and more efficiently. For instance, in July 2023, Certara purchased Simulations Plus, Inc., a significant leader in physiologically based pharmacokinetic (PBPK) modeling and simulation, boosting its products and cementing its market position.
By product, the software segment accounted for the highest revenue-grossing segment in the global biosimulation market in 2023 owing to the advanced features and functionalities incorporated into biosimulation software platforms. These cutting-edge software solutions enable researchers and pharmaceutical companies to conduct intricate simulations, model complex biological processes, and analyze large datasets with enhanced precision. For instance, in October 2023, Dassault Systèmes joined with Medtronic to develop and execute biosimulation technologies for customized medical device design and development. Additionally, the services segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing recognition of the value-added services offered by biosimulation service providers. As pharmaceutical and biotechnology companies strive to optimize their drug development processes, they are turning to specialized services that go beyond standalone software solutions.
By application, the drug development segment accounted for the highest revenue-grossing segment in the global biosimulation market in 2023 owing to the increasing complexity and cost associated with traditional drug development processes. Biosimulation has emerged as a crucial tool within the pharmaceutical industry, offering a more efficient and cost-effective approach to predicting drug behavior, optimizing dosages, and identifying potential safety concerns in the early stages of development. For instance, Schrödinger announced a cooperation with Merck KGaA in December 2023 to use its biosimulation platform for the identification and development of innovative drug candidates. Additionally, the drug discovery segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for innovative and targeted therapies, driving increased investment in early-stage research and development. Biosimulation plays a pivotal role in accelerating drug discovery by offering predictive modeling of biological systems, allowing researchers to assess potential drug candidates more efficiently.
By delivery mode, the subscription models segment accounted for the highest revenue-grossing segment in the global biosimulation market in 2023 owing to the growing preference among businesses for flexible and cost-effective access to biosimulation tools and services. For instance, in November 2023, Biovia launched its Biovia Connected Platform v2024, which has better biosimulation capabilities for simplified drug development procedures. Additionally, the ownership model segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for long-term control, customization, and proprietary use of biosimulation tools.
By end-user, the pharmaceutical and biotechnology companies segment accounted for the highest revenue-grossing segment in the global biosimulation market in 2023 owing to the escalating need for efficient drug development processes and cost-effective solutions within the pharmaceutical and biotechnology sectors. For instance, Insilico Biotechnology AG announced the creation of a revolutionary AI-driven pipeline for finding small molecule therapeutic candidates in October 2023, highlighting their ongoing innovation in drug discovery. Additionally, the CROs segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing outsourcing trend in the pharmaceutical and biotechnology industries, as Contract Research Organizations (CROs) increasingly recognize the value of biosimulation in providing cost-effective and specialized services.
North American region is anticipated to have the highest revenue share during the forecast period owing to the robust presence of established pharmaceutical and biotechnology companies, a well-established healthcare infrastructure, and significant investments in research and development activities. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rapid expansion of the pharmaceutical and biotechnology sectors, increasing investments in healthcare infrastructure, and a growing emphasis on drug development and research activities. For instance, Evidera expanded its worldwide reach in August 2023 by purchasing two biosimulation firms in Europe, boosting their service offering and geographic presence.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product, Application, Delivery Model, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
Segmentation: Biosimulation Market Report 2023 - 2034
Biosimulation Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Software
- Services
- In-house Services
- Contract Services
Biosimulation Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Drug Development
- Drug Discovery
- Others
Biosimulation Market Analysis & Forecast by Delivery Model 2023 - 2034 (Revenue USD Bn)
- Subscription Models
- Ownership Models
Biosimulation Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Pharmaceutical and Biotechnology Companies
- CROs
- Regulatory Authorities
- Academic Research Institutions
Biosimulation Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Biosimulation Market: Product Estimates & Trend Analysis
8. Biosimulation Market: Application Estimates & Trend Analysis
9. Biosimulation Market: Delivery Model Estimates & Trend Analysis
10. Biosimulation Market: End-User Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Biosimulation Market
13. Europe Global Biosimulation Market
14. Asia Pacific Global Biosimulation Market
15. Latin America Global Biosimulation Market
16. MEA Global Biosimulation Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Illumina Inc.
- Thermo Fisher Scientific Inc.
- QIAGEN N.V.
- Agilent Technologies Inc.
- PerkinElmer Inc.
- Eurofins Scientific
- BGI Genomics
- Partek Incorporated
- CLC Bio (QIAGEN)
- Genomatix Software GmbH
- Genedata AG
- DNAnexus
- Biovia (Dassault Systèmes)
- Biomax Informatics AG
- Computomics.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 3.46 Billion |
| Forecasted Market Value ( USD | $ 19.44 Billion |
| Compound Annual Growth Rate | 16.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
