LONDON, Sept. 14, 2015 /PRNewswire/ -- The global biosimulation market is expected to reach USD 2,107.99 million by 2020 from USD 1,034.93 million in 2015, at a CAGR of 15.29% between 2015 and 2020. By product, the market includes software and services. Based on application, the market is segmented into drug discovery, drug development, and others (defense, industrial bioprocessing, nutraceuticals, and agri-food production). The drug development application segment is further classified into preclinical testing and clinical trials. Preclinical testing includes ADME/Tox and PK/PD applications. The drug discovery segment is divided into target identification & validation and lead identification & optimization. The drug development segment will hold the largest share of the biosimulation market in 2015. The other applications segment is expected to grow at the highest rate.
The geographic segments included in this report are North America, Europe, Asia, and the Rest of the World (RoW). North America is expected to account for the largest share in the global biosimulation market in 2015. Europe is expected to register the fastest growth.
Market growth is majorly driven by the availability of R&D investments in biotechnology and pharmaceutical industries. Other growth factors include the need to curtail drug discovery & development costs, technological advancements, growth in the biologics and biosimilars markets, and the increased use of personalized medicines.
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 provides insights on the following:
- Product Development: Product portfolios of the top players in the biosimulation market.- Competitive Assessment: In-depth assessment of the business segments and product portfolios of the leading players in the biosimulation market.- 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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