Articles
Is Biosimulation Market Will Increase by 2019-2023 ?
by Ruchi Walt Market ResearchBiosimulation is a computer-aided mathematical simulation of biological processes and systems. It is aimed at the model-based prediction of the behavior and dynamics of biological systems.
The broad range of applications of modeling and Biosimulation throughout the development of generic drugs will further aid in global harmonization of making critical regulatory decisions, engaging global stakeholders to gain a better understanding on using quantitative approaches in the process of generic drug development, and exploring next-generation quantitative methods and modeling tools. For instance, Simulation Plus is offering GastroPlus software for the development of generic drugs and has been encouraged by various regulatory agencies.
Similarly, in October 2016, Certara was awarded a multi-year research grant to create and validate a PBPK modeling and simulation framework by the Office of Generic Drugs and the FDA using the Simcyp population-based simulators. Overall, as a result of the looming patent cliff and the cost-effective nature of generics, the pharmaceutical market is witnessing an increase in the adoption of generic drugs in the US and across the world. Hence, the leveraging mathematical modeling and simulation to improve generic drugs will propel the growth of the global biosimulation market at a CAGR of 14.20% during the forecast period.
The biosimulation market is concentrated, and the degree of concentration will decrease during the forecast period. To survive in this competitive market, manufacturers are focusing on adopting taking strategic initiatives and indulge in M&A activities. Certara L.P., Dassault Systèmes SE, and Physiomics Plc are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, the difficulties involved in understanding complex biosimulation will challenge the growth of market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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About Ruchi Walt 
Market Research
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Created on Oct 7th 2019 01:32. Viewed 379 times.
