1. Home
  2. > Healthcare
  3. > Medical Supply Market Trends
In Silico Trials: Computational Modelling and Simulation for Medical Product Innovation and Regulatory Clearance Market Forecast to 2028

In Silico Trials: Computational Modelling and Simulation for Medical Product Innovation and Regulatory Clearance Market Forecast to 2028

  • February 2022
  • 257 pages
  • ID: 6244572
  • Format: PDF
  • The Insight Partners

Summary

Table of Contents

Search Inside

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.

Organization Size Insights
Based on organization size, the global in-silico trials: computational modelling and simulation for medical product innovation and regulatory clearance market is bifurcated into small & medium organizations and large organizations.In 2021, the large organizations segment held a larger in silico trials market share.

Moreover, the small and medium organization segment is expected to register a higher CAGR in the market during 2021–2028, owing to the fact that the high usage of the in silico trial methods is more in large research organizations and institutes than the latter one.For instance, the VICTRE study consisted of an in silico replication of a comparative human trial demonstrating the potential of this approach to encourage widespread use of in silico trials for regulatory evaluation.

The VICTRE project’s primary goal was to demonstrate the present maturity of the in silico tools and provide evidence that similar regulatory decisions could be made based on in silico evidence at a fraction of the cost of a clinical trial, the latter involving imaging of hundreds of patients collected in several clinical sites and across many years.This mainly aims to reduce both time and cost, thus being cost-efficient in nature and hence, the techniques are used by small and medium-sized organizations.

Although VICTRE’s conclusions were promising, barriers to the widespread adoption of in silico techniques for clinical trials remain.

Offering Insights
Based on offering, the global in in-silico trials: computational modelling and simulation for medical product innovation and regulatory clearance market is segmented into products, platforms, and services.In 2021, the products segment held the largest in silico trials market share.

Moreover, the services segment is expected to register the highest CAGR in the market during 2021–2028. This growth is owing to the low-risk, cost-effective, and virtual environment in in silico trials computational modelling and simulation technology.

Application Insights
Based on application, the global in-silico trials: computational modelling and simulation for medical product innovation and regulatory clearance market is segmented into product design and discovery, product development, pre-clinical targeting, assessment of drugs and other biomedical products, and others.In 2021, the product design and discovery segment held the largest in silico trials market share.

Moreover, the pre-clinical targeting segment is expected to register the highest CAGR in the market during 2021–2028. The factor attributing to the growth of this segment is the incorporation of advanced technologies such as artificial intelligence (AI) is applied for drug discovery applications.

Clinical Indication Insights
Based on clinical indication, the global in-silico trials: computational modelling and simulation for medical product innovation and regulatory clearance market is segmented into cardiovascular diseases, neurodegenerative diseases, oncology, rare diseases, metabolic diseases, immune-based diseases, infectious diseases, and others.In 2021, the cardiovascular diseases segment held the largest in silico trials market share.

Moreover, the infectious diseases segment is expected to register the highest CAGR in the market during 2021–2028. The factor attributing to the growth of this segment is increasing types of infectious diseases like COVID-19 and strong involvement of the immune system modelling to cure the disease.

End-User Insights
Based on end-users, the global in-silico trials: computational modelling and simulation for medical product innovation and regulatory clearance market is segmented into pharmaceutical and biopharmaceutical companies, medical technology companies, contract research organizations, and others.In 2021, the pharmaceutical and biopharmaceutical companies segment held the largest in silico trials market share.

Moreover, the contract research organization segment is expected to register the highest CAGR in the market during 2021–2028.

A few major primary and secondary sources referred to while preparing the report includes the World Bank Data, Biotechnology Ministerial Coordinating Committee, Contract Research Organization, and Medical Research Council Laboratory of Molecular Biology.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

ref:plp2022

Reportlinker.com © Copyright 2023. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on