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, 2017-2027”, the 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. 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 US Food and Drug Administration (FDA) thereby supporting the 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.
Browse over 104 market data Figures spread through 177 Pages and an in-depth TOC on “Global In Silico Clinical Trials Market”
https://www.techsciresearch.com/report/in-silico-clinical-trials-market/7739.html
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 as they are cost-effective and less time-consuming.
The global In Silico Clinical Trials market segmentation is based on industry, therapeutic area, region, and company. Based on therapeutic area, the market can be categorized into oncology, neurology, cardiology, infectious diseases, orthopedic, dermatology and others.
The oncology segment dominated the market in 2021 with an overall share of around 25.08% and is expected to continue its dominance through 2027. This can be ascribed to the growing prevalence of different types of cancers worldwide.
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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 fastest growth during the forecast period. This can be attributed to the increasing awareness regarding the In Silico Clinical Trials and availability of latest and 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 which 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, 2017-2027 Segmented By Industry (Medical Devices v/s Pharmaceuticals), By Therapeutic Area (Oncology, Neurology, Cardiology, Infectious Diseases, Orthopedic, Dermatology, Others), By Region”, 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 intends to provide cutting-edge market intelligence and help decision makers take 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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