Global In Silico Clinical Trials market valued at USD2743.64 million in 2021 and is predictive to grow at double-digit CAGR to reach USD5451.19 million by 2027. Increasing prevalence of diseases including COVID-19, cancer, and diabetes, among others and decreasing human testing participation. Compared with traditional clinical trial, in silico clinical trials helps in saving time, cost and no animal testing is done which is another added advantage.
Global in silico clinical trials market is segmented based on industry and therapeutic area. Based on the industry, market is segmented into medical devices and pharmaceuticals. The Pharmaceutical segment is expected to witness the fastest growth in the market on account of their well established and codified process known as clinical trials. The most significant distinction between pharmaceuticals and medical devices is how they are clinically examined. According to the US National Library of Medicine, 166,593 drug/biologic clinical trials studies and 40,782 device clinical trails studies got registered as of December 20, 2021.
Players operating in the in silico clinical trials market include Dassault Systèmes SE, Certara Inc., Insilico Medicine, GNS Healthcare Inc., The AnyLogic Company, Novadiscovery SAS, InSilicoTrials Technologies SpA, Immunetrics Inc, CATO SMS, Evotec SE. Dassault Systèmes SE led the market with share of 19.21% in 2021, followed by Certara Inc with 7.27% share. Various players operating in the market are launching new software or tools to facilitate In Silico Clinical Trials process or are improvising their existing platforms in order to stay competitive and have an edge over the other players. Other strategies include collaborations.