LONDON--(BUSINESS WIRE)--The biosimulation market is likely to experience steady growth because of an increase in research funding and grants and a rise in M&A activities. Rising at a CAGR of almost 13%, the market is estimated to have an incremental growth of USD 1.49 billion by 2024. Download Free Sample Report
A Technavio analyst says, "The global biosimulation market will not be majorly impacted by the spread of COVID-19. However, the market outlook might change if the containment efforts go beyond Q2 2020."
Technavio’s recent analysis of the biosimulation market, includes a detailed examination of its revenue forecasts, including market drivers and challenges, key market participants, and growth opportunities. The study segments the markets in North America, Europe, Asia, and ROW, geographically. The North America region is expected to have a market share of 43%. This growth can be attributed to the strong presence of FDA-approved manufacturing facilities.
For further information on this analysis, please visit: https://www.technavio.com/report/biosimulation-market-industry-analysis
Misconceptions about computer system validation and the imitations of CROs might hamper the market growth. However, the use of mathematical modeling and simulation to improve generic drugs will positively influence the growth of the global biosimulation market.
Technavio’s analysis of the biosimulation market also includes:
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive the biosimulation market growth during the next five years
- Precise estimation of the biosimulation market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the biosimulation market industry across North America, Europe, Asia, and ROW
- A thorough analysis of the market’s competitive landscape
- Comprehensive details of factors that will challenge the growth of biosimulation market vendors
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