licenses, equipping its Modeling and Simulation (M&S) review team with almost 60 PBPK
licenses.
Accelerated drug discovery development process by key players to favor market growth
Pharmaceutical companies, non-profit organizations, and healthcare regularity organizations are
majorly investing in research and development of drug discovery process. Market players are
engaged in exploiting biosimulation techniques for enhancing efficacy of drug discovery and
development process, which is expected to drive growth of the biosimulation market. Government
of various economies are funding initiatives such as Innovate UK and Horizon 2020 provide
businesses and research organizations with grants to drive scientific research. Innovate UK is the
UK’s innovation agency and part of UK Research and Innovation, which supported two companies,
Adorial Pharma Limited and C4X Discovery, in enabling the development of a novel mathematical-
based system of drug discovery. Moreover, in March 2016, C4X Discovery Holdings plc., an
innovative drug discovery and development organization announced acquisition of Adorial Limited.
Combining these two business, along with support by Innovative UK will accelerate commercial
and clinical success of biosimulation.
Furthermore, various non-profit organizations, such as the Wellcome Trust and the National
Institute of Health are also funding for various drug discovery programs. The Wellcome Trust fund
supports over 14,000 people in over 70 countries, and aims to invest upto US$ 7.04 billion (£5
billion) in population health, medical innovation, vaccine development such as the development of
a new Ebola vaccine, public health interventions, among others.
For More Information @
https://www.coherentmarketinsights.com/market-insight/biosimulation-market-2016
Additionally, increasing burden of genetic diseases and growing need to detect early sign of disease,
will lead to increase in research and development funding in gene therapy and diagnosis of genetic
disease, thereby increasing adoption of biosimulation products and services, over the forecast
period. For instance, according to the Research, Condition, and Disease Categories (RCDC) July
2017 data findings, National Institute of Health (NIH) has incurred funding in various disease
categories through grants, contracts, and other funding mechanisms. According to the RCDC -2017
annual funding data, NIH spend US$ 422 million, US$ 462 million, and US$ 486 million on gene
therapy, genetic clinical trials, and genetic testing, in 2015, 2016, and 2017, respectively.
Strategic collaborations among market players offers lucrative growth opportunities during
the forecast period
Major players in biosimulation market are expanding their product offering with strategic
acquisition. For instance, in December 2015, Certara, a biosimulation technology-enabled drug
development company, acquired XenologiQ, a UK-based quantitative systems pharmacology (QSP)
consultancy. This acquisition strengthened Certara’s modeling and simulation capabilities, and
supports company’s precision medicine vision. Furthermore, in February 2018, Certara acquired
BaseCase Management GmbH, a data visualization software as a service (SaaS) company. This
acquisition strengthened Certara’s data visualization and communication capabilities.
Advancement in Biosimulation Technology
In July 2018, team of scientist from Indian Institute of Science (IISc) developed EndoMimyk: an
endoscopy simulator. EndoMimyk excels by using the technology of haptics. EndoMimyk
combines haptics technology with advanced simulation and instrumented tools to offer high-fidelity,
realistic, and immersive training in gastrointestinal and bronchoscopy procedures. Furthermore, in
March 2017, Certara developed a new licensing approach, which provides smaller organizations to