DALLAS, October 12, 2012 /PRNewswire/ --
The report "Global Biosimulation Market (Insilico Technology Markets for Drug Development) (2012 - 2017)" defines and segments the global biosimulation market with analysis of forecasting of the global revenue and applications revenue for biosimulation. It also identifies driving and restraining factors for the global biosimulation market with analysis of trends, opportunities, challenges, strengths, weakness and threats. The market is segmented and revenue is forecasted on the basis of major region such as North America, Europe, Asia and Rest of the World. Market is segmented and revenues are forecasted on the basis of application and region.
Browse more than 51 market data tables/figures spread through 130 pages and in-depth TOC on "Global Biosimulation Market (Insilico Technology Markets for Drug Development) (2012 - 2017)".
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Biosimulation is one the fastest growing technology applied in drug discovery and development process. The decline in output and increase in cost in R&D for new drug discovery and development is a major growth factor for the biosimulation. With many drug candidates failing in the late development stages, pharmaceutical companies are under pressure to reduce cost spent by focusing only on specific experiments, Biosimulation aids in focusing on potentially safe drug candidate and developing it into a successful drug.
The key growth area is application of Pharmacokinetic/pharmacodynamic (PKPD) modeling in pre clinical development it is the most widely used model in drug development process which is driving the growth of biosimulation.
Modelling and simulation are widely used across the drug development process in large and small pharmaceutical companies. Pharmaceutical companies realize that integrating existing knowledge and using quantitative simulation methods offer significant savings in time, money and material over expensive in vitro and in vivo studies. The global market for biosimulation in terms of revenue was estimated to be worth $432.0 million in 2011 and is expected to reach $1.2 billion by 2017, growing at a CAGR of 18.50% from 2012 to 2017.
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