DUBLIN, Feb. 13, 2024 /PRNewswire/ — The “In Silico Clinical Trials Market Report 2023-2033” report has been added to ResearchAndMarkets.com’s offering.
The in silico clinical trials market was valued at US$3.07 billion in 2023 and is projected to grow at a CAGR of 8% during the forecast period 2023-2033. Strong revenue growth is predicted through to 2033.
Better Understanding of the Safety Aspects of the Drug and Increasing Initiatives Projected to Boost Industry growth
The in silico clinical trials market is experiencing remarkable growth, largely fueled by two key driving factors. Firstly, the efficiency in rapidly evaluating the safety and efficacy of medical products through virtual patient cohorts and simulations is a prominent catalyst for the growth of the market. By mimicking illness and treatment scenarios, these methods efficiently pinpoint safety concerns and provide valuable insights into product effectiveness. Pharmaceutical companies are drawn to this approach due to its ability to expedite the acquisition of crucial safety and efficacy data required for regulatory approvals.
Secondly, the burgeoning support and recognition from regulatory bodies like the FDA and EMA are significantly boosting the adoption of in silico clinical trials. Major players in the pharmaceutical industry are embracing this approach and presenting in silico evidence to regulators, showcasing the quality, safety, and efficacy of their medical products. This regulatory backing underscores the increasing importance of in silico trials and amplifies their role in the drug development process, acting as a strong impetus for market growth.
Furthermore, collaborative endeavors such as eTRANSAFE, aimed at developing and sharing in silico tools for safety assessment, further contribute to the momentum of the market. The robust evidence that in silico trials provide for drug safety and efficacy is reshaping pharmaceutical and medical device development, positioning in silico clinical trial as a pivotal and rapidly expanding domain within the broader healthcare industry landscape.
Lack of Comprehensive Datasets and Unavailability of Advanced Testing Facilities Likely to Challenge Industry growth
The growth of the in silico clinical trials market is constrained by several significant restraining factors. Firstly, the unavailability of advanced testing facilities and infrastructure poses challenges for research groups and companies, particularly those with limited resources. Building and maintaining the required infrastructure for in silico clinical trials, involving hardware, software, and personnel training, presents a financial hurdle. Secondly, the lack of comprehensive datasets hampers the development of robust in silico models. Access to high-quality datasets is crucial for accurate modelling, but privacy concerns, proprietary data issues, and data harmonization challenges limit data availability and sharing.
Overall, the unavailability of advanced infrastructure and comprehensive datasets collectively act as restraining factors that hinder the growth of the in silico clinical trials market, impacting both resource-constrained organizations and the overall advancement of the field.
Forecasts to 2033 and other analyses reveal commercial prospects:
- In addition to revenue forecasting to 2033, this study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising popularity of In Silico Clinical Trials and recent developments.
Key Questions Answered
- How is the In Silico Clinical Trials Market evolving?
- What is driving and restraining the In Silico Clinical Trials Market?
- How will each In Silico Clinical Trials submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2033?
- How will the market shares for each In Silico Clinical Trials submarket develop from 2023 to 2033?
- What will be the main driver for the overall market from 2023 to 2033?
- Will leading In Silico Clinical Trials Market broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2033 and which geographical region will lead the market in 2033?
- Who are the leading players and what are their prospects over the forecast period?
- What are the In Silico Clinical Trials Market projects for these leading companies?
- How will the industry evolve during the period between 2023 and 2033? What are the implications of In Silico Clinical Trials Market projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the In Silico Clinical Trials Market?
- Where is the In Silico Clinical Trials Market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
Leading companies and the potential for market growth:
- Abzena Ltd.
- Acellera Ltd.
- Aitia
- Allucent
- Certara
- Clarivate
- Dassault Systemes
- Evotec SE
- Immunetrics
- Insilico Medicine
- InSilicoTrials Technologies
- Novadiscovery
Key Topics Covered:
1 Report Overview
2 Executive Summary
3 Market Overview
3.1 Key Findings
3.2 Market Dynamics
3.2.1 Market Driving Factors
3.2.1.1 Better Understanding of the Safety Aspects of the Drug
3.2.1.2 Cost Saving and Time Efficiency
3.2.1.3 Increasing Initiatives and Growing Acceptance from Several Organisations
3.2.2 Market Restraining Factors
3.2.2.1 Lack of Comprehensive Datasets
3.2.2.2 Results Derived From Estimations or Approximation
3.2.2.3 Unavailability of Advanced Testing Facilities and Infrastructure
3.2.3 Market Opportunities
3.2.3.1 Expanded Therapeutic Areas
3.2.3.2 Rising Product Approvals with Associated Collaboration and Partnerships
3.2.3.3 Adoption and Integration of Clinical Trials
3.3 COVID-19 Impact Analysis
3.4 Porter’s Five Forces Analysis
3.5 PEST Analysis
4 In Silico Clinical Trials Market Analysis by Application
4.1 Key Findings
4.2 Application Segment: Market Attractiveness Index
4.3 In Silico Clinical Trials Market Size Estimation and Forecast by Application
4.4 Drug Development
4.4.1 Drug Development: Market Attractiveness Index
4.4.2 Preclinical and Early Stage
4.4.3 Phase I
4.4.4 Other Stages
4.5 Medical Device Development
5 In Silico Clinical Trials Market Analysis by End-users
5.1 Key Findings
5.2 End-users Segment: Market Attractiveness Index
5.3 In Silico Clinical Trials Market Size Estimation and Forecast by End-users
5.4 Pharmaceutical & Biotechnological Companies
5.5 Contract Research Organisations
5.6 Others
6 In Silico Clinical Trials Market Analysis by Therapeutic Area
6.1 Key Findings
6.2 Therapeutic Area Segment: Market Attractiveness Index
6.3 In Silico Clinical Trials Market Size Estimation and Forecast by Therapeutic Area
6.4 Oncology
6.5 Infection Diseases
6.6 Cardiology
6.7 Neurology
6.8 Other Therapeutic Areas
7 In Silico Clinical Trials Market Analysis by Region
7.1 Key Findings
7.2 Regional Market Size Estimation and Forecast
8 North America In Silico Clinical Trials Market Analysis
9 Europe In Silico Clinical Trials Market Analysis
10 Asia Pacific In Silico Clinical Trials Market Analysis
11 Latin America In Silico Clinical Trials Market Analysis
12 MEA In Silico Clinical Trials Market Analysis
13 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/h8rq94
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