In-Silico Trials: Computational Modelling and Simulation for Medical Product Innovation and Regulatory Clearance Market is expected to reach US$ 6,830.99 Million by 2028

Large Organizations Segment to Account for Maximum Share in In-Silico Trials: Computational Modelling and Simulation for Medical Product Innovation and Regulatory Clearance Market During 2021–2028

According to our latest study on “In-Silico Trials: Computational Modelling and Simulation for Medical Product Innovation and Regulatory Clearance Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Organization Size, Offering, Application, Clinical Indication, and End-User the market is projected to reach US$ 6,830.99 million by 2028 from US$ 2,957.65 million in 2021; it is expected to grow at a CAGR of 12.7% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the in-silico trials: computational modelling and simulation for regulatory clearance market during the forecast period of 2021 to 2028.       

Based on organization size, the in-silico trials: computational modelling and simulation for medical product innovation and regulatory clearance market is bifurcated into small & medium organizations and large organizations. The large organizations segment is likely to account for a larger share during 2021–2028. On the other hand, the small and medium organizations segment is expected to witness a higher CAGR over the forecast period. Rising demand from small-scale biopharma companies for in silico trails models into their system is increasing the growth for the overall demand.

By offering, the in-silico trials: computational modelling and simulation for medical product innovation and regulatory clearance market is segmented into products, platform, and services. The products segment held a considerable market share in 2021 and is likely to continue its dominance during the forecast period.

By application, the global market is segmented into product design and discovery, product development, pre-clincial targeting, assessment of drugs and other biomedical products, and others. The product design and discovery segment held a remarkable share in 2021 and is predicted to continue the similar trend till the forecast period of 2021 to 2028. The total funding of in silico clinical trials and drug discovery reached US$750 million from 2019 to 2020. Companies that use computer modeling and simulation on virtual patients for drug testing, instead of employing live subjects or specimens represents funding for seven pharmaceutical companies and amongst which, AbCellera Biologics captures the highest share of US$ 280 million. In July 2019, when leading precision medicine company GNS Healthcare, headquartered in Massachusetts, announced a $23 million Series D fundraising round, led by Cigna Ventures, a strategic corporate venture capital partner and wholly-owned indirect subsidiary of Cigna Corporation.

Based on clinical indication, the in-silico trials: computational modelling and simulation for medical product innovation and regulatory clearance market is segmented into cardiovascular diseases, neurodegenerative diseases, oncology, rare diseases, metabolic diseases, immune based diseases, infectious diseases, and others. The cardiovascular diseases segment accounted for a significant market share in 2021 and is likely to maintain its dominance during the forecast period of 2021 to 2028.

Based on end user, the global market is segmented into pharmaceutical and biopharmaceutical companies, medical technology companies, contract research organizations, and others. The pharmaceutical and biopharmaceutical companies segment recorded a significant market share in 2021 and will continue its trend till the forecast period.

The COVID-19 crisis has significantly triggered the growth of in-silico trials: computational modelling and simulation and will continue a similar trend in the coming years. The application of in-silico trials was utilized for designing and testing medicines effective against SARS-CoV-2 by accelerating the vaccine discovery pipeline, predicting any therapeutic failure, and minimizing undesired effects. Additionally, advanced technology such as computational analyses offers knowledgeable insights regarding transmission, control, progression, and underlying mechanisms of infectious diseases, which is the primary factor responsible for the ultimate growth of the market. Such factors mentioned above support in-silico trials: computational modelling and simulation for medical product innovation and regulatory clearance market growth during the forecast period of 2021 to 2028.

InSilico Trials Technologies; FEops; CADFEM Medical GmbH; Dassault Systemes SE; Virtonomy GmbH; Certara Inc.; Computational Life; Novadiscovery; TwInsight Medical, Ansys, Inc.; Synopsys, Inc.; Sensyne Health plc; Phesi; Tempus; and Cerner Corporation are among the leading companies operating in overall market.    

In-Silico Trials: Computational Modelling and Simulation for Medical Product Innovation and Regulatory Clearance Market, by Region, 2021 (%)

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In Silico Clinical Trials Market Size & Analysis | Report 2021, 2028

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In Silico Trials: Computational Modelling and Simulation for Medical Product Innovation and Regulatory Clearance Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Organization Size (Small & Medium Organizations, and Large Organizations), Offerings (Products, Platforms, and Services), Application (Product Design & Discovery, Product Development, Pre-Clinical Targeting, Assessment of Drugs & Other Biomedical Products, and Others), Clinical Indication (Cardiovascular Diseases, Neurodegenerative Diseases, Oncology, Rare Diseases, Metabolic Diseases, Immune Based Diseases, Infectious Diseases, and Others), and End User (Pharmaceutical & Biopharmaceutical Companies, Medical Technology Companies, Contract Research Organizations, and Others)

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