Insilico Clinical Trials Market Size Is Expected To Reach USD 5.1 Billion By 2030: Grand View Research Inc.
San Francisco, 26 May 2022: The Report In Silico Clinical Trials Market Size, Share & Trends Analysis Report By Therapeutic Area (Oncology, Infectious Diseases), By Phase (Phase I, II, III), By Industry (Medical Devices, Pharmaceutical), And Segment Forecasts, 2022 - 2030 The global in silico clinical trials market size is expected to reach USD 5.1 billion by 2030 and is projected to expand at a CAGR of 7.4% over the forecast period, according to a new report by Grand View Research, Inc. Traditional clinical trials require huge expenditure to conduct research. Moreover, a high number of drugs and medical devices fail in the clinical trial owing to the lack of safety and efficacy, which creates huge losses for the clinical trial sponsors. These factors promote the demand for in silico clinical trials, to understand the behavior of drugs or medical devices in humans. In silico clinical trials use simulation techniques to understand the efficacy and safety of a drug or medical de