In Silico Clinical Trials Market Extensive Company Profiles 2030

In Silico Clinical Trials Industry Overview

The global in silico clinical trials market size was valued at USD 2.7 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 7.4% during the forecast period.

Animal and human testing in clinical trials have higher chances of side effects. In silico clinical trials reduce the chances of adverse reactions during trials, thus, improving the safety and efficacy of research studies. Moreover, the technological advancements in in silico clinical trials improve its demand in the market. Traditional clinical trials are significantly expensive compared to in silico trials. According to a clinical research organization, Sofpromed, the average cost of a clinical trial costs around USD 4 million to USD 20 million.

Gather more insights about the market drivers, restrains and growth of the Global In Silico Clinical Trials Market

China in silico clinical trials market size, by industry, 2020 - 2030 (USD Million)

Hence, the high cost associated with traditional clinical trials is one of the major factors supporting the adoption of computer-based trials. Moreover, in silico trials provide a better understanding of the safety and efficacy of a drug or a device and also reduce the chances of termination of clinical trials, thus reducing the expenditure involved in the trials. In recent years, there has been a significant rise in R&D expenditure for drug development. For instance, the Congressional Budget Office report (U.S.) on pharmaceutical R&D states that the R&D expenses of the pharmaceutical industry have increased from USD 38 billion in 2000 to USD 83 billion in 2019.

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 in silico 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. The pandemic had created an urgent need for therapeutics and vaccines globally. The traditional trials require huge amounts and more time; to tackle this problem, researchers were using computer simulation trials for validating therapeutics and vaccines for COVID-19.

For instance, in December 2020, BioMed Central published a research study, in which, computer simulation trials were used for testing the COVID-19 vaccine. Such actions are likely to have a positive impact on market growth. However, low awareness about in silico trials in the developing economies and issues related to protein flexibility, molecule conformation, and promiscuity leading to inaccurate prediction may hinder the demand for computer simulation trials.

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Market Share Insights

  • November 2021: Insilico Medicine announced that it has started human studies for its drug ISM001-055, for treating idiopathic pulmonary fibrosis. Apart from this, the market players are also forming strategic alliances for developing innovative therapeutics.
  • November 2021: A Japanese preclinical CRO, DSTC, partnered with InSilicoTrials, to innovate the drug development process with the adoption of in silico clinical trials.
  • April 2021: An Italian startup, InSilicoTrials Technologies, received funding for its 3 Horizon 2020 project by the EU to support the development of advanced medical devices through in silico trials. Such actions are expected to improve the market growth of computer simulation trials for medical devices in the future.

Key Companies profiled:

Some prominent players in the global in silico clinical trials market include

  • Certara, Inc.
  • Novadiscovery Sas
  • Insilico Medicine, Inc.
  • Dassault Systemes SE
  • GNS Healthcare Inc.
  • The AnyLogic Company
  • InSilicoTrials
  • Immunetrics Inc.
  • Nuventra Pharma Sciences
  • Abzena Ltd.

Order a free sample PDF of the In Silico Clinical Trials Market Intelligence Study, published by Grand View Research.

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