Overview and Scope
In silico clinical trials also refer as virtual clinical trial is a computer-simulations used to develop or evaluate the safety and efficacy of a medicinal product, device, or intervention. It assesses the safety and effectiveness of medical devices and imaging systems.
Sizing and Forecast
The in silico clinical trials market size has grown strongly in recent years. It will grow from $3.31 billion in 2023 to $3.59 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to increased availability of medical data, evolving regulatory frameworks for virtual trials, growth in computing power, rise in healthcare digitization, expansion of precision medicine initiatives.
The in silico clinical trials market size is expected to see strong growth in the next few years. It will grow to $5.02 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to growing demand for faster drug development processes, adoption of virtual patient populations in clinical trials, expansion of digital twin technologies, increase in regulatory acceptance of in silico trials. Major trends in the forecast period include development of more realistic virtual patient models, integration of real-world evidence in in silico trials, emphasis on decentralized and patient-centric trial designs, rise in the use of digital biomarkers, increased focus on personalized medicine in virtual trials.
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/in-silico-clinical-trials-global-market-report
Segmentation & Regional Insights
The in silico clinical trials market covered in this report is segmented –
1) By Phase: Phase I, Phase II, Phase III, Phase IV
2) By Therapeutic Area: Oncology, Infectious Disease, Hematology, Cardiology, Dermatology, Neurology, Diabetes, Other Therapeutic Areas
3) By Industry: Medical Devices, Pharmaceutical
North America was the largest region in the in silico clinical trials market in 2023. Asia-Pacific is expected to be the fastest-growing region in the in silico clinical trials market report during the forecast period. The regions covered in the in silico clinical trials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample_request?id=12224&type=smp
Major Driver Impacting Market Growth
The rise in chronic, infectious, and neurological disease prevalence is expected to propel the growth of the in silico clinical trials market going forward. Chronic diseases are problems that last a year or longer, necessitating continuing medical care, restricting everyday activities, or both. Infectious disease is caused by a pathogen or its toxic byproduct that spreads to a susceptible host through contact with an infected human, animal, or inanimate object. Neurological disorders refer to illnesses that impact the spinal cord, the body’s nerves, and the brain. The rise in chronic, infectious, and neurological disease prevalence increases the need for better medication and treatments. In silico trials are used for faster drug development to treat these diseases. For instance, in January 2023, according to the National Centre for Biotechnology Information (NCBI), a US-based National Library of Medicine, it was projected that by the year 2050, the number of individuals aged 50 years and older who have at least one chronic illness will surge by 99.5%, rising from 71.522 million in 2020 to 142.66 million. Furthermore, in May 2022, according to the World Health Organization, a Switzerland-based specialized health agency, compared to 245 million cases in 2020, there were 247 million cases of malaria in 2021. Compared to 625 000 in 2020, the expected number of malaria deaths was 619 000 in 2021. Furthermore, in December 2022, according to the Parkinson’s Foundation report published by a US-based non-profit organization working for Parkinson’s disease patients, the new diagnosis of Parkinson’s disease reached 90,000 per year, increasing from 60,000 per year in 2021. Therefore, the rise in chronic, infectious, and neurological disease prevalence is propelling the growth of the in silico clinical trials market.
Key Industry Players
Major companies operating in the in silico clinical trials market report are Dassault Systemes SE, Clarivate PLC, Evotec A.G, Evidera, Certara Inc., Abzena Limited, Selvita, Simulations Plus Inc., Insilico Medicine Inc., AnyLogic Company, Biomax Informatics, GNS Healthcare Inc., 4P-Pharma, Nuventra Pharma Sciences, Archimedes, Novadiscovery Sas, Rosa & Co., In Silico Biosciences, Leadscope, Biognos Ab, BioNova, Immunetrics Inc., InSilicoTrials, Physiomics PLC, InhibOx, Entelos
The in silico clinical trials market report table of contents includes:
1. Executive Summary
2. In Silico Clinical Trials Market Characteristics
3. In Silico Clinical Trials Market Trends And Strategies
4. In Silico Clinical Trials Market – Macro Economic Scenario
5. Global In Silico Clinical Trials Market Size and Growth
.
.
.
31. In Silico Clinical Trials Market Other Major And Innovative Companies
32. Global In Silico Clinical Trials Market Competitive Benchmarking
33. Global In Silico Clinical Trials Market Competitive Dashboard
34. Key Mergers And Acquisitions In The In Silico Clinical Trials Market
35. In Silico Clinical Trials Market Future Outlook and Potential Analysis
36.Appendix
Explore the trending research reports from TBRC:
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
