COVID-19 Pandemic Impact on Global Biosimulation Market 2020–2024 | Technavio
The biosimulation market is expected to register a CAGR of almost 13% during 2020–2024, as per the latest research report by Technavio. The report offers detailed analysis about the impact of COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios.
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Due to the extensive spread of the virus across the globe, the Health Care Industry is anticipated to have Positive impact. The biosimulation market will showcase Neutral impact during 2020–2024.
Biosimulation Market 2020–2024: Segmentation
Biosimulation Market is segmented as below:
- End-user
- Geography
- Pharmaceutical and Biotechnology Companies
- Contract Research Organizations
- Others
- North America
- Europe
- Asia
- ROW
North America region will account for the highest incremental growth during the forecast period due to the implementation of big data using mathematical models and simulation for drug discovery, leveraging mathematical modeling and simulation to improve generic drugs, and presence of FDA-approved manufacturing facilities.
With the surging growth of COVID-19 pandemic, the Health Care market is anticipated to have a Direct impact during the forecast period. View market snapshot before purchasing
Implementation of big data using mathematical models and simulation for drug discovery has been an instrumental factor in influencing the growth of the biosimulation market. Other market drivers include an increase in M&A activities and strategic initiatives by market vendors. Technavio offers custom research analysis on the crucial pointers to highlight the impact of COVID-19 on the market across the supply chain.
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, base case and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis as the spread reaches a global level and updates on market estimates
Get more insights about the global trends impacting the future of biosimulation market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR43362
Biosimulation Market 2020–2024: Vendor Analysis
The market is concentrated, and the degree of concentration will accelerate during the forecast period. Key players in the market have been launching several initiatives and introducing innovative products and services to cater to a larger target audience during the pandemic. Major market participants include Altair Engineering Inc., ANSYS Inc., Certara LP, Dassault Systemes SE, Genedata AG, Intelligen Inc., Physiomics Plc, PPD Inc., Schrodinger Inc., and Simulations Plus Inc.
