Increasing cases of drug relapse and drug resistance in treatment of cancer, tuberculosis, and epilepsy and rising focus on development of AI-based biosimulation platforms are some key factors supporting market revenue growth
Increasing cases of drug relapse and drug resistance in treatment of cancer, tuberculosis, and epilepsy and rising focus on development of AI-based biosimulation platforms are some key factors supporting market revenue growth
According to Emergen Research, the global personalized therapy biosimulation market size was USD 1,061.7 million in 2020 and is expected to reach USD 3,164.1 million in 2028 and register a revenue CAGR of 14.6% during the forecast period, 2021-2028.
Market Dynamics:
Steady revenue growth of the global personalized therapy biosimulation market is primarily attributed to factors such as rising cases of drug resistance and drug relapse in treatment of tuberculosis, cancer, and epilepsy and rapildy increasing prevalence of cancer and other chronic diseases across the globe. In addition, rising focus on development of personalized cancer therapies, growing demand for advanced biologics and biosimilars, and increasing government and private investments in pharmaceutical and biotechnological research & development projects are some other factors expected to contribute to market growth going ahead.
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Personalized therapy biosimulation involves the use of computational models to describe different biological, pathological, and pharmacokinetic processes to facilitate drug development. It helps create a multi-omic profile of the patient that helps to predict individual patient responses to specific drug combinations. Cellwork Group Inc., a leading precision medicine company, has recently introduced a personalized cancer therapy biosimulation platform that employs biosimulation technology, AI, next-generation sequencing (NGS) informatics, and therapy response index (TRI) to enhance the cancer treatment process and improve patient care quality. Growing need for reduced R&D costs and improved drug efficacy in clinical trials, continuous advances in precision oncology, and increasing use of Quantitative System Pharmacology (QSP) in drug discovery & development are some other factors expected to further drive the global market revenue growth over the forecast period.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Drug Development Segment Accounted for Largest Revenue Share in 2020:
The drug development segment dominated other segments in terms of revenue share in the global market in 2020. Major factors supporting revenue growth of this segment are increasing applications of advanced biosimulation technologies in drug development processes, including new drug investigation, preclinical testing, and clinical testing, increasing applications of pharmacokinetics/pharmacodynamics (PK/PD) modelling and simulation techniques in drug development, and growing need for streamlining clinical trial processes.
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Pharmaceutical and Biotechnology Companies Segment to Account for Fastest Revenue CAGR:
The pharmaceutical & biotechnology companies segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Increasing R&D activities in the pharmaceutical and biotechnology sectors, rising number of clinical trials and studies for new and more advanced drugs and therapeutics for cancer, and increasing applications of biosimulation techniques in drug development are key factors expected to drive revenue growth of this segment.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America personalized therapy biosimulation market accounted for largest revenue share in the global market in 2020. Rising prevalence of chronic diseases such as cancer, increasing pharmaceutical R&D programs, and growing use of AI-based biosimulation technologies in drug discovery & development processes are some key factors expected to drive revenue growth of the market in the region. In addition, increasing demand for personalized cancer therapies and presence of key market players in the region, including Certara USA Inc., Cellworks Group Inc., and Nuventra Pharma, are some other major factors expected to contribute to North America market revenue growth.
Major Companies in the Global Personalized Therapy Biosimulation Market Include:
- Cellworks Group Inc.
- Certara USA Inc.
- Simulation Plus Inc.
- In Silico Biosciences Inc.
- Genedata AG
- Physiomics plc
- Insilico Biotechology AG
- Chemical Computing Group ULC (CCG)
- Evidera Inc.
- Dassault Systèmes
- Nuventra Pharma
- Schrödinger Inc.
- ACD/Labs
- INOSIM Software
- LeadInvent Technologies
For the purpose of this report, Emergen Research has segmented the personalized therapy biosimulation market based on product type, therapeutic area, application, delivery model, end-use, and region:
Product Type Outlook (Revenue, USD Million; 2018–2028)
- Software
- Services
Therapeutic Area Outlook (Revenue, USD Million; 2018–2028)
- Oncology
- Others
Application Outlook (Revenue, USD Million; 2018–2028)
- Drug Development
- Preclinical Testing
- PK/PD
- ADME/TOX
- Clinical Trials
- Drug Discovery
- Target Identification and Validation
- Lead Identification and Optimization
- Others
Delivery Model Outlook (Revenue, USD Million; 2018–2028)
- Subscription Models
- Ownership Models
End-use Outlook (Revenue, USD Million; 2018–2028)
- Pharmaceutical and Biotechnology Companies
- Research Centers & Academic Institutes
- Contract Research Organizations (CROs)
- Others
Region Outlook (Revenue, USD Million; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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