The global insilico clinical trials market size was valued at USD 2.6 billion in 2021, and is predicted to be worth around USD 5.0 billion by 2030, registering a CAGR of 7.3% during the forecast period 2022 to 2030.
Traditional clinical trials require huge expenditure to conduct research. Moreover, a high number of drugs and medical devices fail in the clinical trial owing to the lack of safety and efficacy, which creates huge losses for the clinical trial sponsors. These factors promote the demand for insilico clinical trials, to understand the behavior of drugs or medical devices in humans. Insilico clinical trials use simulation techniques to understand the efficacy and safety of a drug or medical device.
The growth in R&D spending is likely to have a positive impact on the market growth. The COVID-19 pandemic had resulted in a temporary shutdown of clinical research sites, which promoted the demand for insilico clinical trials for research studies. Disruptions in clinical research due to the COVID-19 outbreak have kindled a new level of interest in using computer simulations to predict clinical trial outcomes.
|Market Size||US$ 5.0 billion by 2030|
|Growth Rate||CAGR of 7.3% From 2022 to 2030
|Largest Market||North America|
|Forecast Period||2022 to 2030|
|Segments Covered||Industry, Therapeutic Area, Phase|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Caterpillar; CNH Industrial N.V.; Doosan Corporation; Escorts Limited; Hitachi Construction Machinery Co., Ltd.; Hyundai Construction Equipment Co., Ltd.; J C Bamford Excavators Ltd.; Deere & Company.; Kobelco Construction Machinery Co., Ltd.; Komatsu Ltd.; Liebherr-International AG; Manitou BF; HİDROMEK; Sany Heavy Industry Co., Ltd.; Sumitomo Heavy Industries, Ltd.; Terex Corporation; Volvo AB; Zoomlion Heavy Industry Science; Technology Co., Ltd|
By Industry Analysis
The medical devices segment accounted for the highest revenue share of more than 57% in 2021. The simulations for medical devices are considered more accurate as compared to pharmaceuticals, which is the key reason for the majority of insilico trials being performed for medical devices.
pharmaceutical segment is expected to grow at the fastest CAGR over the forecast period owing to the increasing demand for innovative treatment options globally. The concerns regarding the harmful effect of drugs on humans in traditional clinical trials are further contributing to the demand for computer simulation trials for pharmaceuticals.
By Therapeutic Area Analysis
Based on therapeutic areas, the market has been further segmented into oncology, infectious disease, hematology, cardiology, dermatology, neurology, diabetes, and others. The oncology segment accounted for the largest revenue share of 27.0% in 2021.
Traditional clinical trials for cancer are considered expensive and also have high chances of incurring harmful effects on humans. These factors are primarily contributing to the demand for cancer insilico clinical trials
The developments in cancer insilico studies have further promoted segment growth. For instance, in May 2021, GNS Healthcare announced the development of the first in silico patient for prostate cancer. However, the infectious diseases segment is expected to register the fastest CAGR over the forecast period.
By Phase Analysis
Based on phases, the market is divided into phases I, II, III, and IV. The phase II segment accounted for the largest revenue share of more than 44.5% in 2021 and is also expected to register the fastest CAGR during the forecast period. The majority of insilico trials are at phase II, which is the prime reason for the largest share of the segment.
The phase II segment is also expected to record significant growth during the forecast period. The rising demand for biologics and personalized medicines across the globe and increasing awareness among the population to eliminate animal studies are a few of the factors supporting the growth of the phase III segment.
By Regional Analysis
North America accounted for the largest revenue share of more than 44% in 2021 and will expand further at a steady CAGR retaining the leading over the forecast period as a significant number of insilico trials are being conducted in the U.S. In addition, the presence of key companies like GNS Healthcare Inc., Insilico Medicine, Inc., Immunetrics Inc., and others in the region have further contributed to the regional market growth.
The market in Asia Pacific is in its nascent stage. Various companies in this region are adopting the use of insilico trials to reduce the overall cost of clinical studies.
Insilico Medicine, Inc.
Dassault Systemes SE
GNS Healthcare Inc.
The AnyLogic Company
Nuventra Pharma Sciences
By Therapeutic Area
Middle East & Africa
The insilico clinical trials market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of insilico clinical trials market for the base year 2022 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global insilico clinical trials market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the insilico clinical trials market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted insilico clinical trials market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the insilico clinical trials capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of insilico clinical trials by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global insilico clinical trials market. These figures have been provided in terms of both revenue and volume for the period 2019 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major insilico clinical trials market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of insilico clinical trials market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the insilico clinical trials industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
insilico clinical trials market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to insilico clinical trials market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of insilico clinical trials market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new insilico clinical trials market. These factors have benefited the growth of the global market for insilico clinical trials. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for insilico clinical trials. The global market is segmented on the basis of region, application, end-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of insilico clinical trials are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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