According to a report by Reports and Data, the global Biosimulation Market size was USD 2.78 billion in 2022 and is projected to have a revenue CAGR of 16% over the forecast period. Biosimulation is becoming increasingly popular in drug development as it can be used to predict the safety and efficacy of a drug candidate, eliminating the need for clinical trials, thereby saving time and money. Biosimulation is becoming an essential tool in the development of personalised treatment plans, particularly in the field of customised medicine, as the prevalence of chronic illnesses increases.

Furthermore, biosimulation is expanding in other industries, such as biotechnology, food and agriculture, and environmental risk assessment, as it is costly and time-consuming to develop new fertilisers, insecticides, and herbicides. Biosimulation is also utilised in the biotechnology industry to develop new treatments and cures by simulating the interactions between biological systems.

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The report also highlighted the increasing demand for simulation tools that are faster and more accurate, as high-performance computers and machine learning techniques are being used to create models that can mimic interactions between hundreds of biological molecules, resulting in more complex and accurate biosimulation models, which are increasing the utility for drug development and personalised therapy.

The North American market is expected to generate the most significant revenue share over the forecast period, as the US government has enacted several rules and regulations encouraging the use of biosimulation in drug development and research. The United States is home to several significant enterprises in the biosimulation industry, and the growing relevance of precision medicine and the desire for faster, more effective, and less expensive drug development methods in the country are also driving the market growth.

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In terms of key players, some of the prominent ones include Accelrys, Inc., Advanced Chemistry Development, Inc., Certara, Simulations Plus, Inc., Schrodinger, Inc., Dassault Systemes SE, Physiomics PLC, Genedata AG, In silico biosciences, Inc., and Leadscope, Inc. The report also highlighted some recent acquisitions that have occurred in the biosimulation market, such as Certara's purchase of Pinnacle 21 and Dassault Systemes SE's acquisition of Medidata Solutions, Inc.

The market has been segmented by Reports and Data on the basis of Product Outlook (Software, Services), Application Outlook (Drug Development, Drug Discovery, Others), and Regional Outlook (North America, Europe, Asia, and the Rest of the World). The software segment had the largest revenue share in 2021, as it allows for virtual drug compound testing, which speeds up and lowers the cost of the drug development process. The drug discovery segment generated the most revenue in 2021, as researchers can use biosimulation to enhance dosage and mimic how a drug would affect the human body before conducting clinical trials.

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