Factors such as increase in R&D investments in the pharmaceutical and biotechnology industries, growing adoption of biosimulation software by regulatory bodies, technologically advanced QSP systems, need to curtail drug discovery and development costs, and growth in the biologics and biosimilars markets are driving the growth of the market.
The biosimulation market is highly competitive with the presence of various players. Some of the major players operating in the market are Certara (US), Simulation Plus (US), Dassault Systèmes (France), Schrödinger (US), ACD/Labs (Canada), Chemical Computing Group (Canada), Physiomics (UK), Evidera (US), In silico biosciences (US), INOSIM Software (Germany), Insilico Biotechnology (Germany), LeadInvent Technologies (India), Rosa (US), Nuventra Pharma (US), and Genedata (Switzerland).
The biosimulation market is expected to reach USD 2.88 Billion by 2022 from USD 1.20 Billion in 2016 growing at a CAGR of 15.9%
Product launches & upgradations accounted for the largest share of the overall growth strategies followed by key players between 2014 and 2017. Some of the companies that adopted this strategy include Certara, Simulation Plus, Schrödinger, ACD/Labs, and Chemical Computing Group.
Certara is one of the leading players in the biosimulation market. This leading position of the company can be attributed to its strong brand recognition and extensive product portfolio in the market. The company has a vast presence in North America, Europe, Asia, and Australia. In order to maintain its leading position in the biosimulation market the company focuses on inorganic and organic growth strategies like product launches and upgradations, expansions, acquisitions, and partnerships. For instance, in September 2016, the company acquired d3 Medicine (Australia) to enhance the company’s expertise in the field of modeling and simulation modeling, simulation, and regulatory science powerhouse. Likewise, in October 2017, the company launched Phoenix 8.0 PK/PD Modeling and Simulation software.
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The report provides insights on the following:
1 Product Development: Product portfolios of the top players in the biosimulation market.
2 Competitive Assessment: In-depth assessment of the business segments and product portfolios of the leading players in the biosimulation market.
3 Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the market for various biosimulation products and services across geographies.
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A combination of bottom-up and top-down approaches was used to calculate the market sizes and growth rates of the global biosimulation market and its subsegments. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. Primary interviews with key opinion leaders were also used to determine the percentage shares of each subsegment and the relative differences in growth rates. The report provides qualitative insights about growth rates, and market drivers for all subsegments. It maps market sizes and growth rates for each subsegment and identifies segments poised for rapid growth in each geographic segment. The report also includes company profiles of market leaders.
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The report will enable both established firms and new entrants to gauge the pulse of the market and help them make important strategic growth decisions.