In silico clinical trials use computer simulation and models to predict drug efficacy and safety. They help reduce time and costs associated with drug development and testing. Key advantages include improved predictions of pharmacokinetics and toxicity with less risk to humans in early stages of research.
The global In Silico Clinical Trials Market is estimated to be valued at US$ 3,410.4 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights..
Market key trends:
Advancement in technology has been a key driver for the growth of in silico clinical trials market. Adoption of artificial intelligence and machine learning has enabled developers to build complex biological models that help simulate human physiology and predict drug behavior in a human body with higher accuracy. Increased computational power allows processing of large real-world datasets to train algorithms. This has improved the predictive capabilities of in silico models. Researchers are now able to virtually replicate pathophysiology of various disease conditions and closely mimic human trials in silico with integration of multi-omics data and patient-derived models. Further technological advancements are expected to enhance predictive performance of in silico platforms and help accelerate drug development process significantly over the forecast period.
Segment Analysis
The global In Silico Clinical Trials Market is segmented by application, therapeutic area, end use, and geography. By application, the market is dominated by the preclinical trials segment as it helps in cost-saving for pharmaceutical companies by eliminating the risk of harmful effects on humans at the early discovery stages. By therapeutic area, the oncology segment holds the major market share due to high adoption of in silico trial methods for new cancer drug discovery. By end use, pharmaceutical and biotechnology companies extensively utilize in silico clinical trials solutions for efficient drug R&D with lower investments compared to physical trials.
Key Takeaways
The Global In Silico Clinical Trials Market Demand is expected to witness high growth.
Regional analysis: North America holds the highest share in the In Silico Clinical Trials market mainly due to increasing investments by pharmaceutical giants for advanced drug discovery techniques. The region has well-established healthcare IT infrastructure providing growth opportunities to key players. Additionally, favorable government initiatives are boosting adoption of novel technologies including virtual clinical trials in the region.
Key players: Key players operating in the In Silico Clinical Trials market include Abzena Ltd., Clarivate, Immunetrics Inc., GNS Healthcare, Dassault Systemes, Evotec, Novadiscovery, Insilico Medicine Inc., and InSilicoTrials Technologies, among others. Abzena specializes in biologics engineering for the development of bio therapeutics across diverse modalities. Clarivate provides scientific and clinical research data solutions and services.
Immunetrics leverages artificial intelligence techniques for advanced drug development through virtual clinical trials. GNS Healthcare offers end-to-end simulation platforms for biosciences research. Dassault Systemes provides bioconvergence platform powered by virtual replicas of biological functions. Novadiscovery focuses on developing accelerated clinical trial simulations technology for therapeutics and vaccines. Insilico Medicine applies latest AI techniques like generative adversarial networks for target identification, drug discovery and trial optimization.
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