The rising prevalence of chronic diseases is expected to drive the global ADME toxicology testing market during the forecast period. Researchmoz elucidates on the market dynamics such as size, growth drivers, restraints, trends, opportunities, competitive dynamics, etc.
Factors Driving and Restraining the Market
Following are some of the factors that drive the ADME Toxicology Testing Market during the forecast period.
- Increasing drug development in the medical sector is expected to bolster the demand for ADME toxicology testing in the following years.
- Rising demand for novel drugs for targeted therapies is anticipated to drive the global ADME toxicology testing market in the coming years.
- The increasing investment in research and development in the area of drug development is predicted to boost the demand for ADME toxicology testing during the forecast period.
- Further, the growing demand for drug efficacy and safety in the drug components are expected to expand the growth of the global ADME toxicology testing during the forecast period.
- The stringent regulations from the FDA with regards to safety testing of drug metabolites, in vitro metabolism, etc are expected to drive the global ADME toxicology testing market during the forecast period.
- The rising investment by the government and private sectors in healthcare facilities is expected to fuel the growth of the global ADME toxicology testing market during the forecast period.
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Analyst’s View
The global ADME toxicology testing market is expected to witness a significant proliferation during the forecast period. The technical advancement in the healthcare sector is proving to be a boon for the growth of the ADME toxicology testing market.
Cell culture-based technology is expected to thrive in the global ADME toxicology testing market in the coming years.
Lately, there has been a rising awareness about the ADME toxicology testing among the patients too which is fuelling the market to expand substantially.
Drugs are subject to approval from the FDA and other regulatory authorities, which is why ADME toxicology testing is becoming essentially important, leading to the expansion of the global ADME toxicology testing market.
The current players in the global ADME toxicology testing market include –
- Agilent Technologies, Inc.
- Albany Molecular Research Inc.
- Accelrys Inc.
- Actelion Pharmaceuticals
- AbbVie
- Beckman Coulter Inc.
- Charles River Laboratories International Inc.
- Catalent Inc.
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Key Takeaways
- The global ADME toxicology testing market is foreseen to grow at a staggering rate of CAGR 11.4% during the forecast period.
- The Asia Pacific region will bring forth more demand as compared to other regions, the most demand is expected to come from developing economies.
- There would be an intense competition in the market during the forecast period and the market players are fiercely involved in strategies to surge their position in the global ADME toxicology testing market.
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