Latin America Biosimulation Market Size & Outlook
Latin America biosimulation market, 2016-2028 (US$M)
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Latin America biosimulation market highlights
- The Latin America biosimulation market generated a revenue of USD 58.3 million in 2021.
- The market is expected to grow at a CAGR of 17% from 2022 to 2028.
- In terms of segment, software was the largest revenue generating product in 2021.
- Services is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2022 to 2028.
Latin America data book summary
| Market revenue in 2021 | USD 58.3 million |
| Market revenue in 2028 | USD 174.7 million |
| Growth rate | 17% (CAGR from 2021 to 2028) |
| Largest segment | Software |
| Fastest growing segment | Services |
| Historical data covered | 2016 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Software, Services |
| Key market players worldwide | Certara Inc Ordinary Shares, Dassault Systemes SE, Avantium NV, Simulations Plus Inc, Schrodinger Inc Ordinary Shares, Chemical Computing Group, Physiomics, Rosa & Co, Genedata AG, Instem, Yokogawa Electric Corp., Immunetrics |
Other key industry trends
- In terms of revenue, Latin America region accounted for 2.4% of the global biosimulation market in 2021.
- Globally, North America is projected to lead the regional market in terms of revenue in 2028.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,445.4 million by 2028.
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Biosimulation Market Scope
Biosimulation Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America biosimulation market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biosimulation market will help companies and investors design strategic landscapes.
Software was the largest segment with a revenue share of 69.13% in 2021. Horizon Databook has segmented the Latin America biosimulation market based on software, services covering the revenue growth of each sub-segment from 2016 to 2028.
Latin America biosimulation market includes Brazil, Mexico, and other Latin American countries. High cost of biopharmaceutical product development coupled with problems associated with adequate subject recruitment for clinical trials in developed economies is leading to the outsourcing of clinical research, especially to countries in Latin America.
Presence of a diverse population and easy access to patients owing to high population density in urban areas are attracting organizations engaged in clinical research to the region. Furthermore, clinical research sites in the region are well-established and have favorable conditions for research. Increase in clinical trials in the region is anticipated to drive biosimulation market growth.
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Target buyers of Latin America biosimulation market databook
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Our clientele includes a mix of biosimulation market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America biosimulation market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America biosimulation market from 2016 to 2028, including revenue numbers, major trends, and company profiles.
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Latin America biosimulation market size, by country, 2016-2028 (US$M)
Latin America Biosimulation Market Outlook Share, 2021 & 2028 (US$M)
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