Biosimulation is a kind of numerical simulation and computer-assisted. It is a simulation of biological systems and procedures. Biosimulation is an essential ingredient of systems biology. The biosimulation technology market is expected to grow extensively in the years to come. It is likely to achieve around 18.6 % CAGR through 2017.
For Market Research Report on “Biosimulation Technology Market” Visit – http://www.grandviewresearch.com/industry-analysis/biosimulation-technology-market
The pivotal factors driving the biosimulation technology market are rising usage of pharmacokinetic and pharmacodynamic (PKPD) methods, increasing healthcare spendings and huge costs in conventional drug discovery processes. However, lack of proper knowledge of biological systems & processes and lack of standardization are posing threats to the market.
The biosimulation technology market can be bifurcated into applications and geographies. The market, on the basis of applications, can be divided into drug discovery and drug development. Drug discovery can be split further into lead optimization, target validation, target identification and lead identification. Drug development can be segmented further into pre clinical testings and clinical trials.
Geographically, the biosimulation technology market can be segregated into North America, Europe, Asia Pacific and rest of the world (ROW). Globally, North America holds the largest market share for biosimulation technology and is followed by Europe. This growth can be attributed to the off-patenting of various drugs, huge research & developments and technological improvements, coupled with governmental initiatives.
Europe has observed fastest growth for the biosimulation technology market. This is owing to favorable regulatory bodies engaged in promoting innovative technologies in drug development. Asia Pacific is at the development stage and observing steady growth. This is on account of the lack of proper infrastructure and absence of expert workforce.
Information Source: Grand View Research