InSilicoTrials – Key player in the global in silico clinical trials market

An in silico clinical trial is also known as a virtual clinical trial. It is a method used to develop drugs and medical devices using computer simulation, powered by artificial intelligence. This method allows testing the drug samples in virtual patients using strict computational modeling and simulation methods before trying them on humans.

We take pride in being listed among the key industry players in the global in silico clinical trials market in two recent Market Research Reports by Grand View Research and The Brainy Insights.

According to Grand View Research, the global in silico clinical trials market size was valued at USD 2.7 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 7.4% during the 2022-2030 period. Animal and human testing in clinical trials have higher chances of side effects. In silico clinical trials reduce the chances of adverse reactions during trials, thus, improving the safety and efficacy of research studies. Moreover, the technological advancements in in silico clinical trials improve its demand in the market. Traditional clinical trials are significantly expensive compared to in silico trials. According to a clinical research organization, Sofpromed, the average cost of a clinical trial costs around USD 4 million to USD 20 million.

The Grand View Research report cited the case of InSilicoTrials as an industry insight: For instance, in April 2021, an Italian startup, InSilicoTrials Technologies, received funding for its 3 Horizon 2020 project by the EU to support the development of advanced medical devices through in silico trials. Such actions are expected to improve the market growth of computer simulation trials for medical devices in the future.

The Brainy Insights research report delivers an outline of the attractiveness of in silico clinical trials based on therapeutic area, phase, industry, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and future potential.

The report also focuses on the market-related driving factors, growth limitations, significant trends, and potential industry opportunities, among which a better understanding of the safety and efficacy of a drug and medical device will provide huge growth to the market.

We are very happy to be considered among the global in silico trials market players, strongly committed to developing innovative treatments with the use of in silico study models.


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