Market Challenges And Opportunities

Global In Silico Clinical Trials Market Drivers:

Rise in disease burden to augment market growth

One of the key factors expected to augment the growth of the global in silico clinical trials market during the forecast period is the rise in prevalence of chronic, infectious, and neurological diseases worldwide. With the rise in burden of chronic, infectious, and neurological diseases, the demand for safe and effective drugs and medical device is also increasing. In July 2022, Amazon started developing cancer vaccines in collaboration with the Fred Hutchinson Cancer Research Center, and launched an FDA-approved clinical trial. Amazon and Fred Hutchinson planned to recruit 20 participants over the age of 18 for early stage, or phase 1 trial, to develop “personalized vaccines” that can treat breast cancer and melanoma, a form of skin cancer.

The outbreak of COVID-19 to underpin market growth

Another factor which is driving the growth of the in silico clinical trials market is the outbreak of COVID-19 across the globe. For instance, in November 2020, Pfizer and BioNTech SE announced that, after conducting the final efficacy analysis in their ongoing Phase 3 study, their mRNA-based candidate, BNT162b2, met all of the study’s primary efficacy endpoints. The efficacy was consistent across age, gender, race and ethnicity demographics. The observed efficacy in adults over 65 years of age was over 94%. Moreover, according to CTRI, even in 2020, the year the COVID pandemic struck, India registered 87 global clinical trials.

Global In Silico Clinical Trials Market Opportunities:

Increasing use of in silico models to test medical devices is expected to provide significant growth opportunities for players in the in silico clinical trials market. For instance, in silico models allow manufacturers to shorten product development cycle for new medical devices and pharmaceuticals without compromising quality or safety. In April 2021, InSilicoTrials Technologies, Italian startup, received funding for its 3 Horizon 2020 project by the EU to support the development of advanced medical devices through in silico trials. InSilicoTrials will work with over 140 esteemed European scientists until 2024. This in turn is driving the market growth.

Increase in number of in silico clinical trials across the globe is expected to offer lucrative growth opportunities for players in the global in silico clinical trials market. For instance, in silico models allow researchers to test new drugs on virtual patients for pharmaceutical trials. In November 2021, Japanese preclinical CRO, DSTC, partnered with InSilicoTrials, to innovate the drug development process with the adoption of in silico clinical trials, following the recommendations of regulatory bodies, such as FDA, EMA and PMDA, to significantly cut the cost and time-to-market of drug development, increasing the safety new drugs and reducing animal and human testing.

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.