In Silico Clinical Trials MarketSize and Trends

The global in silico clinical trials market was valued at US$ 3,173.1 Mn in 2022 and is forecast to reach a value of US$ 5,824.6 Million by 2030 at a CAGR of 7.95% between 2023 and 2030. The global in silico clinical trials market is experiencing strong growth due to the rise in prevalence of chronic, infectious, and neurological diseases and outbreak of COVID-19 worldwide. Moreover, increasing use of in silico models to test medical devices and increase in number of in silico clinical trials is expected to boost growth of the market. However, factors such as unavailability of complex testing centers and low awareness about in silico trials are expected to hamper the growth of the global in silico clinical trials market.

Global In Silico Clinical Trials Market: Regional Insights

Based on geography, the global in silico clinical trials market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market over the forecast period owing to the increasing prevalence of chronic, infectious, and neurological diseases, rise in number of clinical trials, and rise in drug discovery and development in the region. For instance, with the rise in burden of chronic, infectious, and neurological diseases, the demand for safe and effective drugs and medical device is also increasing. According to the Centers for Disease Control and Prevention (CDC), chronic diseases, such as heart disease, cancer, and diabetes, are the leading causes of death and disability in the United States.

Europe and Asia Pacific are also expected to witness robust growth in the global in silico clinical trials market due to the rise in burden of chronic, infectious, and neurological diseases, rise in drug discovery and development, and increase in number of clinical trials in these regions. For instance, according to the European Medicines Agency - European Union, in the EU / EEA, more than 4,000 clinical trials are authorised each year, of which 60% of clinical trials are sponsored by the pharma industry and 40% by non-commercial sponsors. As per the Clinical Trials Registry India (CTRI), India approved over 100 global clinical trials in 2021, the highest since 2013.

Figure 1. Global In Silico Clinical Trials Market Share (%), by Region, 2023

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 Trends:

Growing geriatric population is a recent trend

The ageing population tends to have a higher prevalence of chronic diseases worldwide. With the growing geriatric population coupled with minor to severe chronic diseases, such as cardiovascular diseases, cancer, diabetes, and respiratory diseases, the demand for safe and effective therapeutics and medical devices is increasing, and for rigorous development of the therapeutics and medical devices, in silico clinical trials (ISCTs) are increasing worldwide. This trend is expected continue during the forecast period, driving the growth of the market.

Technological advancements is another trend

Technological advances such as the incorporation of (AI) in cancer trials for better understanding, safety, and efficacy of drugs are further contributing to the market growth. The demand for cancer in silico clinical trials is has also increased over the years. In 2022, Insilico Medicine completed experimental validation of AI-designed compounds with requisite features and have nominated a preclinical candidate (PCC) for anti-cancer therapeutics targeting ubiquitin-specific protease 1 (USP1), a known synthetic lethality target. This trend is also expected continue over the forecast period, driving the market growth.