Global Biosimulation Market is expected to Gain Rapid Traction with Certara Announcing Development of new biosimulation platform Quantitative Systems Pharmacology (QSP) for COVID-19 vaccines

Biosimulation, also called bio-immolation, is the use of information technology to promote biological activity. Biological activity is the result of interactions between living things and their environment. Biosimulation is useful in many scientific fields such as microbiology, virology, pharmacology, obstetrics, and gynecology. It is also used for engineering applications such as controlling the growth and development of microorganisms, genetic engineering, and tissue culture technologies. Biosimulation methods are usually used for the engineering of complex systems like those found in the cardiovascular and immune systems, cardiovascular systems, and the immune and the endocrine systems.

Increasing healthcare expenditure is expected to drive growth of the global biosimulation market. According to the Centers for Medical & Medicaid Services (CMS), the U.S. healthcare expenditure increased by 4.6% in 2019, reaching US$ 3.8 trillion or US$ 11,582 per person. According to the same source, healthcare expenditure accounted for 17.7% of the national GDP. Furthermore, according to the World Bank, healthcare expenditure in the U.K. reached 9.997% of the GDP in 2018, increasing from 9.166% in 2008. As a result of this, the demand for biosimulation has increased significantly over the years. Although biosimulation is a relatively new tool in drug development, it offers various benefits such as saving both time and money and also enhancing predictability in the early stage of drug development. Hence, such factors are expected to drive growth of the global biosimulation market. Furthermore, rising investments in research and development activities in the field of pharmaceuticals are expected to propel the global biosimulation market growth in the near future.

However, lack of standardization and low availability of skilled personnel is expected to restrain growth of the global biosimulation market. Besides, increasing demand for personalized medicine and the use of biosimulation in pediatric drug development can provide significant business opportunities. Among regions, North America is expected to witness significant growth in the global biosimulation market. This is owing to the adoption of in-silico models to ensure high patient safety. Furthermore, Asia Pacific is expected to register a robust growth rate, owing to rising healthcare IT expenditure and increasing preference for contract research organizations in the region.

Key companies involved in the global biosimulation market are Biovia, Simulations Plus, Inc., Certara, L.P., Schrodinger, LLC, Certara, L.P., Pharmaceutical Product Development, LLC, Compugen Inc., Leadscope Inc., Genedata, and In Silico Biosciences, Inc.

For instance, in August 2020, Certara, a major player in biosimulation, launched a new biosimulation platform Quantitative Systems Pharmacology (QSP) for COVID-19 vaccines.