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Global Biosimulation Market 2014-2018 a New Research Report added to ReportsnReports.com
Date:12/8/2013

Dallas, Texas (PRWEB) December 08, 2013

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 (http://www.reportsnreports.com/reports/271328-global-biosimulation-market-2014-2018.html) 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.

Analysts forecast the Global Biosimulation market to grow at a CAGR of 18.31 percent over the period 2013-2018. According to the report, one of the most important drivers is the reduction in the drug discovery and development costs of pharmaceutical companies as a result of deploying biosimulation software solutions during the R&D process. Since such software brings about an understanding of clinical outcomes before human trials, their use adds immense value to pharmaceutical companies involved in the R&D of drugs, and helps companies reduce costs.

Further, the report states that one of the major challenges in the market is the high R&D costs associated with the development of biosimulation software. Several biosimulation models offer a virtual patient population to aid the development and testing of drugs, but thes
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