The global biosimulation market is growing at a CAGR of nearly 16.0% during the forecast period. The major factors that are augmenting the growth of the market is urgency to develop and promote modern drugs. Furthermore, rising trend of surrogacy, growing infrastructure and increasing healthcare spending by government are also estimated to be the major factors that are contributing significantly towards the growth of the market. The growth of market is also attributed to increase in spending on R&D by pharmaceutical and biotechnology.
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However, there are certain factors that are affecting the growth of the market. High cost of drugs and treatment, low accuracy rate of the treatment and lack of awareness among people in the untapped regions for the uses of drugs. In addition to this, the stringent government regulations can affect the market and can be the major hindrance for the growth of the market.
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Global Biosimulation Market Segmentation
By Application
- Drug Discovery
- Drug Development
- Preclinical Testing
- Clinical Trials
By Product
- Software
- Pharmacokinetic/Pharmacodynamic (Pk/Pd) Modelling and Simulation Software
- Molecular Modelling and Simulation Software
- Physiologically Based Pharmacokinetic Modelling (Pbpk) Modelling and Simulation Software
- Toxicity Prediction Software
- Trial Design Software
- Services
- In-House
- Contract
By End-User
- Biotechnology and Pharmaceutical Companies
- Contract Research Organizations (CROs)
- Regulatory Authorities
- Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
