Global In Silico Trials Market Research Report 2022: Computational Modelling and Simulation for Medical Product Innovation and Regulatory Clearance - ResearchAndMarkets.com

The "In Silico Trials: Computational Modelling and Simulation for Medical Product Innovation and Regulatory Clearance Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Organization Size; Offering; Application; Clinical Indication; End User, and Geography" report has been added to ResearchAndMarkets.com's offering.

The in-silico trials: computational modelling and simulation for medical product innovation and regulatory clearance market is projected to reach US$ 6,830.99 million in 2028 from US$ 2,957.65 million in 2021; it is estimated to grow at a CAGR of 12.7% from 2021 to 2028.

The in-silico trials: computational modelling and simulation for medical product innovation and regulatory clearance market growth is mainly attributed to the benefits associated with in silico trials, such as low cost and rapid process, which saves time. In silico trials refers to the development of patient-specific models to form virtual cohorts for testing the safety or efficacy of new drugs and medical devices.

Also, with the development of computational modelling and simulation, entire imaging, including source, object, detection, and image interpretation components intended for R&D, optimization, technology assessment, and regulatory evaluation, have been achieved.

Developing an in silico trial method was to benefit animal and human trials. Numerous benefits are associated with in silico clinical trials, such as cost-effectiveness in pharmaceutical and therapeutic research, the ability to assess without significant delays, and additional resources, thereby increasing scalability and ensuring animal safety.

Additionally, the in silico clinical trials manage the ethical issues, thereby substantiating the growth of in silico clinical trials market. In silico trial method is financially economical and affordable compared to the conventional clinical trial method. The cost of any adverse effect of the trial on humans is nullified as the in silico clinical trial does not include human test subjects.

Thus, saving humans from various adverse drug reactions (ADRs) is the most significant benefit derived from in-silico trials: computational modelling and simulation for medical product innovation and regulatory clearance market.

Imaging clinical trials aim at answering specific scientific queries or concerns regarding the value of imaging technologies and procedures for detecting, diagnosing, guiding, or monitoring the treatment of disease. Imaging clinical trials can be burdensome for industry and regulators, often delaying patient access to novel, high-quality medical devices and access to drug discoveries.

The evaluation of new imaging technologies typically requires a substantial clinical study to demonstrate benefits compared to the standard of care. While computational models are sometimes used in the regulatory evaluation of medical devices, their use in support of imaging products has been uncommon.

However, tools for in silico imaging trials have significantly improved in sophistication and availability since the late 1980s and particularly since 2000, with refined and efficient freely available tools increasingly being used in research and development. Such a factor is expected to drive the in-silico trials: computational modelling and simulation for medical product innovation and regulatory clearance market growth over the forecast period.

Furthermore, in silico clinical trials can supplement phase II drug trials to explore the safety and efficacy in the more infrequent phenotypes that usually appear only in phase III and predict the dose-effect relationship. Computational study in natural drug discovery is used to determine the metabolic pathways of active molecules and find the new targets and new molecules with high affinity to those targets.

Moreover, unlike conventional clinical trials, in silico clinical trials are readily approved and authorized by the food and drug administration (FDA). Incrementally but inevitably, the in silico clinical trial approach is expected to become the most significant evidence for regulatory evaluations. These factors indicate that the benefits mentioned above are substantially driving the growth of in-silico trials: computational modelling and simulation for medical product innovation and regulatory clearance market.

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the in-silico trials: computational modelling and simulation for medical product innovation and regulatory clearance market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the in-silico trials: computational modelling and simulation for medical product innovation and regulatory clearance market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhancing the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

Key Market Dynamics

Market Drivers

• Rising Concerns Over Animal Welfare and Benefits
• Insufficient Variable Patient Data and Limited Timescale

Market Restraints

• Insufficient Variable Patient Data and Limited Timescale

Market Opportunities

• Growing Applications of In-silico Trials in Radiology and Orthopedic Device Industry

Future Trends

• Adoption of Artificial Intelligence in In-Silico Drug Discovery

Companies Mentioned

• InSilico Trials Technologies
• Feops
• CADFEM Medical GmbH
• Dassault Systemes
• Virtonomy GmbH
• Certara Inc.
• Computational Life
• NOVA
• TwInsight Medical
• Ansys, Inc.
• Synopsys, Inc
• Sensyne Health plc
• Phesi
• Tempus
• Cerner Corporation

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