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C&M: Global market for biosimulation driven by reduction in drug discovery and development costs
Global Biosimulation Market 2014-2018 - a new market research report on 2014-03-20 15:05:02
The Global Biosimulation market is to grow at a CAGR of 18.31 percent over the period 2013-2018. One of the key factors contributing to this market growth is the reduction in drug discovery and development costs, owing to the deployment of biosimulation solutions. The Global Biosimulation market has also been witnessing increasing collaborations and partnerships. However, issues associated with the accuracy in prediction, could pose a challenge to the growth of this market.
The Global Biosimulation market is witnessing increasing collaborations and partnerships between vendors. Such collaborations are aiding innovation in the market. For instance, Genedata is collaborating with Insilico Biotechnology AG, which is a Germany-based provider of software and solutions for the simulation of living cells, to support life science companies in improving and enhancing their biotechnological production methods. Additionally, a number of vendors in the Global Biosimulation market collaborate with pharmaceutical companies. For instance, in May 2013, Accelrys Inc., a US-based provider of scientific enterprise software, signed a three-year agreement with Pfizer Inc., a pharmaceutical company, for the use of its products such as, modeling and simulation software, by Pfizer´s researchers worldwide.
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