The Business Research Company’s Biosimulation Global Market Report 2021 – COVID-19 Implications And Growth
LONDON, GREATER LONDON, UK, October 6, 2021 /EINPresswire.com/ — 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. Therefore, the surge in healthcare expenditure drives the growth of the biosimulation market.
The global biosimulation market size is expected to grow from $2.71 billion in 2020 to $3.17 billion in 2021 at a compound annual growth rate (CAGR) of 17.1%. The change in growth trend of the biosimulation market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The biosimulation market is expected to reach $5.29 billion in 2025 at a CAGR of 13.7%.
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Major players covered in the global biosimulation industry are Certara, Dassault Systèmes, Schrödinger Inc., Simulations Plus Inc., Rhenovia Pharma, Insilico Biotechnology AG, Genedata AG, Entelos Inc., Physiomics plc, Rosa & Co. LLC., In silico biosciences Inc., INOSIM Software, LeadInvent Technologies, Nuventra Pharma, and Archimedes.
TBRC’s global biosimulation market report is segmented by product into software, services, by application into drug development, drug discovery, others, by end user into pharmaceutical and biotechnology companies, contract research organizations (CROs), regulatory authorities, academic research institutions, others.
Biosimulation Global Market Report 2021 – By Product (Software, Services), By Application (Drug Development, Drug Discovery), By End User (Pharmaceutical And Biotechnology Companies, Contract Research Organizations (CROs), Regulatory Authorities, Academic Research Institutions), COVID-19 Implications And Growth is one of a series of new reports from The Business Research Company that provides biosimulation market overview, forecast biosimulation market size and growth for the whole market, biosimulation market segments, and geographies, biosimulation market trends, biosimulation market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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