In Silico Clinical Trials Market is expected to grow at a CAGR of 7.88% through 2031
Growing prevalence of various diseases is driving the
growth in global In Silico Clinical Trials market in the forecast period.
According to TechSci Research report, “In
Silico Clinical Trials Market - Global Industry Size, Share, Trends, Competition,
Opportunity and Forecast, 2021-2031”, the Global In Silico Clinical Trials Market will grow from USD 4.58 Billion in 2025 to USD 7.22 Billion by 2031 at a 7.88% CAGR. This can be ascribed to the fact that in silico clinical trials
help in saving time, costs and resources.
Additionally, in silico clinical trials are readily approved and authorized by the U.S. Food and Drug Administration (FDA), thereby supporting market growth through 2027F. Additionally, adoption of Electronic Health
Records (EHR) provides ample opportunities to enhance patient care as it
contains a wealth of clinical data which can be used to identify the potential
clinical trials participants.
There is a vast adoption of electronic health records as they have the
enormous prospect to increase and change the potential of In Silico Clinical
Trials. However, factors such as lack of awareness among the researchers
regarding In Silico Clinical Trials assessments can restrict the market growth
during the forecast period.
The whole process and its dynamics proved to be an effective method for
clinical trials studies. People tend to shift their interest from conventional
methods to advanced technologies. In silico clinical trials can reduce and refine the number of clinical trials by being cost-effective and less
time-consuming.
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The global In Silico Clinical Trials market is segmented by industry,
therapeutic area, region, and company. By therapeutic area, the market can be categorized into oncology, neurology, cardiology, infectious diseases, orthopedics, dermatology, and other areas.
The oncology segment dominated the market in 2021, with an overall share of approximately 25.08%, and is expected to maintain its dominance through 2027. This
can be attributed to the increasing prevalence of various cancer types worldwide.
Cancer is among the leading cause of death across the world, accounting
for approximately 10 million deaths in 2020. The most common causes of cancer
death in 2020 were breast cancer, lung and bronchial cancer, colon and rectum,
prostate, skin and stomach cancer.
A partial list of leading market players, includes:
·
Dassault Systèmes SE
·
Certara Inc.
·
Insilico Medicine
·
GNS Healthcare Inc.
·
The AnyLogic Company
·
Novadiscovery SAS
·
InSilicoTrials Technologies SpA
·
Immunetrics Inc
·
CATO SMS
·
Evotec SE
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“The European region is expected to register the fastest growth
during the forecast period. This can be attributed to increasing awareness of in silico clinical trials and the availability of advanced technologies required for such experiments. Researchers in Europe are more
focused on providing an ideal platform which is a combination of both clinical
trials and virtual prototype industry as well. Increased use of Artificial Intelligence and Machine Learning is also a major factor that drives the market of In Silico Clinic Trials,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“In Silico Clinical Trials Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, Segmented By Industry (Medical Devices v/s Pharmaceuticals), By Therapeutic Area (Oncology, Neurology, Cardiology, Infectious Diseases, Orthopedic, Dermatology, Others), By Region 2021-2031F”, has evaluated the
future growth potential of global In Silico Clinical Trials market and provides
statistics & information on market size, structure and future market
growth. The report aims to provide cutting-edge market intelligence and help decision-makers make sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global In Silico Clinical Trials market.
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