Global Biosimulation Market is valued USD 1.9 billion in 2017 is anticipated to grow USD 4.5 billion with the compounded annual growth of 15.5% over the forecast period 2018-2025.
New York 13 Aug 2018: As per the new research study conducted by Bizwit Research & Consulting, Global Biosimulation market industry is poised to raise USD 4.5 billion by 2025. Increasing need for the treatment with higher impact and low susceptibility to drug resistance and its requirement in Proteomic and Geomic technologies for development of advance therapeutics are the major factors driving the growth in the Global Biosimulation Market. Biosimulation market is a tool for mathematical simulation of biological processes and systems. It provides model based calculation of biological system and processes and helps in drug discovery and development with the prediction of its failure and success. It helps in reduction of efforts and cost of drug development. North America is the leading/significant region across the world in terms of market share and possesses half of the total market share of the total market. Whereas Europe stands next for Global biosimulation market where Growth is Driven by government initiative.
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Global Biosimulation Market Size study, by Component (Software, Service), by Application (Drug Development, Drug Discovery, Others), by Industry (Government, IT & Telecommunication, Manufacturing, Others), and by Regional Forecasts 2018-2025
The industry is seeming to be fairly competitive. Some of the leading market players include Simulation Plus, Inc., Dassault Systems SA, Schrodinger, Inc., Advanced Chemistry Development Inc, Physiomics PLC, Entelos, Inc., Rhenovia Pharma Ltd, Genedata AG, Leadscope, Inc, InhibOx Ltd. and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- The North American region accounted for the significant market share, more than XX% of the total market in 2016.
- The European region is likely to witness significant CAGR over the forecast period 2018-2025.
Bizwit Research & Consulting LLP has considered following segments for the study:
- In-house Services
- Contract Services
- Drug Development
- Drug Discovery
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations (CROs)
- Regulatory Authorities
- Academic Research Institutes
- North America
- Asia Pacific
- Latin America
- Rest of the World