In Silico Clinical Trials Market, By Therapeutic Area (Oncology, Infectious Disease, Cardiology, Neurology, Diabetes, and Other Therapeutic Areas), By Industry (Medical Devices and Pharmaceutical), By Phase (Phase I, Phase II, Phase III, and Phase IV), And By Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa)

Published In : Mar 2023

Code : CMI5608

Pages :171

Formats :

Excel and PDF

Industry : Medical Devices

Leading Companies

Based on Industry, the market is segmented into Medical Devices and Pharmaceutical. Out of which, Medical Devices Segment is expected to dominate the market over the forecast period and this is attributed to the increase in demand for technologically advanced medical devices.

Pharmaceutical Segment is also expected to witness significant growth in the near future and this is owing to the increase in demand for safe and effective pharmaceuticals.

Global In Silico Clinical Trials Market Restraints:

Unavailability of complex testing centers to market growth

One of the key factors expected to hamper the growth of the global in silico clinical trials market is unavailability of complex testing centers and results based on approximation. Most of the trials require solutions that are developed to use 5G technology and hybrid laboratories with advanced technology which require substantial cost and significantly new infrastructure. Several developing and underdeveloped countries are not economically stable for developments and high investments to fulfill the surge in demand for the advancement in the complex testing centers and are facing challenges related to the limited availability of infrastructure and technical resources. This in turn is expected to restrain the growth of the market.

Low awareness about in silico trials to hamper market growth

Another factor which is hampering the growth of the global in silico clinical trials market is the low awareness about in silico trials in developing countries. For instance, the use of Computational Modelling and Simulation to support regulatory filings is hampered by a lack of or contradictory information on their reliability. Low awareness about in silico trials in the developing economies and issues related to protein flexibility, molecule conformation, and promiscuity led to inaccurate prediction may hinder the demand for computer simulation trials. This in turn is also expected to hamper the growth of the market.