Biosimulation Market Size, Share & Trends Report

Biosimulation Market Size, Share & Trends Analysis Report By Product (Software, Services), By Application (Drug Development, Drug Discovery), By End Use, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-1-68038-051-4
  • Number of Pages: 170
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2020
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the biosimulation market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for biosimulation market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of biosimulation market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Biosimulation Market Categorization:

The biosimulation market was categorized into four segments, namely product (Software, Services), application (Drug Development, Drug Discovery), by delivery (Subscription Models, Ownership Models), end-use (Pharmaceutical & Biotechnology Companies, CROs,Regulatory Authorities, Academic Research Institutions), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The biosimulation market was segmented into product, protocols, application, by delivery, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The biosimulation market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-two countries, namely, the U.S.; Canada; UK; Germany; France; Italy; Spain; Norway; Denmark; Swden; Japan; China; India; Australia; South Korea; Thailand; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Biosimulation market companies & financials:

The biosimulation market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Certara Certara is a private pharmaceutical software and services company. The company’s offerings include model-informed drug development (biosimulation), regulatory science, and market access solutions. The company focuses on developing solutions for optimizing R&D productivity, commercial value, and patient outcomes through its diverse portfolio. Certara’s clients include leading academic institutions, 1,500+ biopharmaceutical companies, and key regulatory agencies across 60 nations.

  • Simulations Plus Simulations Plus is a publicly operated multinational company involved in the design, development, and marketing of drug discovery and development software for modeling and simulation. The company provides consulting services for early drug discovery in preclinical as well as clinical trial data analysis. Moreover, Simulations Plus also specializes in population modeling, reporting to regulatory agencies, and provides contract research services for a wide range of pharmaceutical and biotechnology companies. The company operates globally in various regions and countries such as Singapore, India, North America, Europe, Japan, South America, Australia, China, and New Zealand.

  • Dassault Systèmes Dassault Systèmes is a publicly operated software company and part of the Fortune 50. It is involved in providing end-toend software and services for 3D product design, manufacturing, and simulation, among others. The company serves a variety of industries such as aerospace & defense, business services, construction, consumer packaged goods & retail, life sciences, and marine & offshore. The company focuses on providing its customers 3DEXPERIENCE to enable sustainable innovations and harmonize product, nature, & life.

  • Schrödinger, Inc. Schrödinger, Inc. is a publicly operated multinational computational software company. The company is involved in providing scientific software solutions and services for applications in the field of life sciences & materials research. It offers software products to academic, government, and other nonprofit institutions globally. It also specializes in providing biologics, discovery informatics, materials science, and 3D molecular visualization solutions. The company operates through locations across the U.S., Europe, Japan, and India. It focuses on improving human health and quality of life by adding value to the way therapeutics & materials are discovered.

  • Advanced Chemistry Development Advanced Chemistry Development is a privately held software company. It is involved in the development and distribution of analytical, structural, and molecular information software solutions. The company also offers products for drug discovery, quality assurance, open access laboratories, and knowledge management applications. The company serves customers from diverse industries such as pharmaceuticals, agrochemicals, food & beverages, chemicals, material science, academia, and forensics.

  • Chemical Computing Group ULC Chemical Computing Group ULC, a software company, is involved in providing drug discovery software to end users such as pharmaceutical, biotechnology, and research & academic institutions. It also specializes in structure databases & visualization systems, which serves the need of medicinal chemists, biologists, and computational chemists globally. Chemical Computing Group operates in regions such as North America, Germany, and the UK.

  • Physiomics Plc Physiomics Plc is a UK-based computational biology service provider. Physiomics PLC is involved in providing outsourced systems and computational biology services to a wide range of pharmaceutical companies. In addition, the company specializes in target validation as well as lead selection services to pharmaceutical & biotechnology companies. Furthermore, it provides software resources for human clinical trials and algorithms for various drug combinations for researchers and to enhance preclinical & clinical regimens and analyze their effects.

  • Rosa & Co. LLC. Rosa & Co. LLC is involved in providing drug development advisory in Market Modeling as well as in Quantitative Systems Pharmacology. The company offers customized PhysioPD Research Platforms and assists clients for critical decision making through the clinical and preclinical phases of their research. The company’s platform is also used in to simulate normal & disease physiology, monitor patient variability, study drug action, as well as in trial outcomes. The disease area of experience includes metabolic diseases, oncology, immuno-oncology, cardiovascular, immune dysfunction, dermatology, central nervous system disorders, inflammation, and antibacterial/antiviral biology.

  • BioSimulation Consulting Inc. BioSimulation Consulting Inc. offers a broad range of expertise in analytical and kinetic data mining using sponsor data. The company offers a comprehensive service analysis of toxicology and pharmacology consulting practice. It also provides preclinical & clinical related services, environmental services, as well as services related to general toxicology. Furthermore, it offers evaluations that include toxic chemical exposure, drug effects, human health risk assessment, and toxicology profile.

  • Genedata AG Genedata AG is a privately held company involved in the development of software solutions. It also offers data analysis and management systems in the fields of biologics research & biomarker discovery, development of protein therapeutics, plate-based screening processes, molecular profiling processes, statistical & scientific interpretation, and biological sequence-related processes. The company also caters to various fields such as industrial biotechnology, pharmaceuticals, sustainable energy, agrochemicals, biopharmaceutical, agribusiness, food & beverage, academic research, nonprofit research, and life sciences research institutions globally.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Biosimulation Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 - 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Biosimulation Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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