Summary

The global in silico clinical trials market is expected to grow at a significant rate of around 8% during the forecast period. In silico clinical trials are virtual clinical trials that assess the effectiveness and safety of medications, medical devices, and other therapies using computer simulations and models. These trials allow researchers to study the effects of treatments on virtual patients without the need for real-world testing. The market is expected to continue to grow as more companies invest in computer modeling and simulation technology and regulatory agencies become more accepting of in silico trial data. For instance, in July 2020, Health tech startup InSilicoTrials, which provides affordable simulation models for pharmaceutical and medical research, raised USD 3.31 million in a series A funding round led by United Ventures, with support from Pi Campus.

Certara, USA; Nova.; Insilico Medicine; Immunetrics; Schrödinger, Inc.; Simulations Plus; Recursion; Sensus Healthcare; Aitia.; and Abzena Ltd are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst industry, pharmaceuticals category to have Fastest CAGR during the forecast period.”
Based on the industry, the market has been categorized into medical devices and pharmaceuticals. Among them, the pharmaceuticals category is to grow at a considerable rate during the forecast period. The pharmaceuticals in silico clinical trials market refer to the use of computer simulations, modeling, and analysis techniques to support the drug development process. The factors such as the increased demand for more efficient and cost-effective drug development processes, along with the advancements in computational power and modeling techniques attributes to the growth of the segment in In silico clinical trials market.

“Amongst therapeutic area, the oncology segment held a dominating share in the market in 2021.”
Based on the therapeutic area, the market has been categorized into oncology, infectious disease, hematology, cardiology, dermatology, neurology, diabetes, and others. Among them, the oncology segment held a dominantshare of the market in 2021. The high prevalence of cancer and the need for improved treatment for the disease is the important factor driving the growth of the segment. For instance, as per the Australian Institute of Health and Welfare, cancer is a major cause of illness and death in Australia. In 2021, about 151,000 Australians were diagnosed with cancer and 49,000 people died.

“Asia Pacific to witness the fastest growth in the market”
Asia Pacific’s in silico clinical trials market is expected to witness the fastest growth during the forecast period. The market for in silico clinical trials is at the initial stage and the demand for new drugs has been increasing due to the high prevalence of diseases in the region. For instance, according to the Global Burden of Disease, nearly a quarter (24.8 percent) of all deaths in India is due to cardiovascular diseases. Further, the region is also the home of the largest global population which is expected to grow at a fast pace in the upcoming future, and demand for effective medicines. As a result, the demand for In silico clinical trials increased at a rapid pace during the forecast period.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global In Silico Clinical Trials market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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