Report Description

Global In Silico Clinical Trials market stood at USD2743.64 million in 2021 and is expected to grow at a CAGR of 12.28% during the forecast period on account of factors like growing prevalence of various communicable and non-communicable diseases such as cancer, diabetes, cardiovascular diseases, neurological disorders, SARS-CoV-2 among others requiring different drugs and medical devices for the treatment.

Before the launch of a drug or medical device it is necessary to conduct clinical trials. Clinical Trials are generally time consuming, expensive, harmful for animals, etc. This in turn has led to an increase in demand for solutions which can help in expediting the rate of clinical trials using computational tools, software and platforms which can increase the rate of drug discovery or a new medical device launch, thereby positively influencing the growth of global In Silico Clinical Trials market.

Rapidly Increasing Concerns Over Animal Welfare

The growing concerns related to the harm caused to animals during different types of clinical trials has created a demand for the development of alternative methods for carrying out these trials, thereby supporting the market growth. In January 2020, the US Department of Agriculture had reported that approximately 300,000 animals were involved in pain causing experimental activities in just one year. In silico clinical trials offer an effective way of replacing animal anatomies for conducting various experiments and research & development activities.

Benefits Associated with In Silico Clinical Trials

Numerous benefits associated with In Silico Clinical Trials such as their cost effectiveness in terms of pharmaceutical and therapeutic research, their ability to assess without any significant delays and additional resources thereby increasing their scalability, ensuring animal safety, among others are expected to support the market growth through 2027.

Also, using in silico clinical trials sub population analysis can be done using computational tools by enriching the population segment of interest. Same patient population data can be used for another modality without re-exposing them, leading to a greater scalability.

Sudden Outbreak and Spread of COVID-19 Pandemic

The sudden outbreak and spread of COVID-19 pandemic significantly increased the need and demand for In Silico Clinical Trials since academic & research institutions were shut, the human participation was reduced due to lockdown and social distancing norms, among others.

Also, COVID-19 led to the widespread use of platforms such as Universal Immune System Simulator (UISS) to predict the dynamics of SARS-CoV-2 and related immune system host response. This platform was also used to design effective vaccines based on monoclonal antibodies.