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| In Silico Clinical Trials Market |
In silico clinical trials help in predicting drug efficacy and safety without exposing human volunteers to health risks associated with clinical drug testing. In silico clinical trials leverage computer-based simulations, algorithms, and models to mimic clinical trials. They offer the potential to accelerate drug development at lower costs compared to physical clinical trials involving human participants. The global In Silico Clinical Trials Market is estimated to be valued at US$295 million in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing adoption of virtual clinical trials is expected to drive the
growth of the in silico clinical trials market over the forecast period.
Virtual clinical trials help reduce costs associated with patient recruitment
and monitoring. They also improve protocol design and dose selection for
initiating physical clinical trials involving human volunteers. With virtual
clinical trials, multiple trial protocols can be tested simultaneously at
varied patient populations and clinical settings in silico to determine the
most optimal design. This helps in accelerating the clinical development
process and gaining regulatory approvals faster. The lack of risks to human life
further promotes the increased uptake of in silico clinical trials by
pharmaceutical companies.
Segment
Analysis
The global In Silico clinical trials market is dominated by the software
segment. The software segment accounts for the largest share as it is used to
perform simulation studies and is important for the design and analysis of the
in silico clinical trial. Drug development simulation software sub-segment is
expected to witness significant growth owing to increased R&D activities by
pharma companies for new drug development.
Key Takeaways
The global In
Silico Clinical Trials Market Growth is expected to witness high
growth.
Regional
analysis: North America is currently the largest and fastest growing market for
in silico clinical trials owing to presence of major pharmaceutical companies
and availability of advanced IT infrastructure to support clinical trial
simulations.
Key players operating in the In Silico clinical trials market are Certara,
Dassault Systèmes, Simulations Plus, Schrödinger, Accelrys, Physiomics,
Entelos, Insilico Biotechnology, LeadInvent Technologies, INOSim Software.
For more insights, read- https://www.ukwebwire.com/in-silico-clinical-trials-market-trends-size-and-share-analysis/
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