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Global ADME Toxicology Testing Market Overview 2033 : Forecasted Market Size And Growth Rate | AbbVie Inc., Thermo Fisher Scientific Inc., Boehringer Ingelheim GmbH
ADME Toxicology Testing Global Market Report
The Business Research Company presents an extensive market research report on the ADME Toxicology Testing Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The adme toxicology testing market size has grown rapidly in recent years. It will grow from $9.3 billion in 2023 to $10.34 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to stringent regulatory requirements, rising drug development activities, growing concerns about drug safety, advancements in in vitro testing methods, increased outsourcing of toxicology studies..
The adme toxicology testing market size is expected to see rapid growth in the next few years. It will grow to $15.77 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to rapid expansion of biopharmaceuticals, growing emphasis on personalized medicine, emergence of advanced therapies, enhanced predictive toxicology models, global increase in chemical safety testing.. Major trends in the forecast period include expansion of biomarker applications, integration of multi-omics data, regulatory emphasis on in vitro testing, collaborations and partnerships, continuous advancements in technology..
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Key Market Players:
Major companies operating in the adme toxicology testing market report are AbbVie Inc., Thermo Fisher Scientific Inc., Boehringer Ingelheim GmbH, Laboratory Corporation of America Holdings, Corning Incorporated, Eurofins Scientific SE, Agilent Technologies Inc., Lonza Group AG, Dassault Systèmes SE, Catalent Inc., Charles River Laboratories International Inc., Beckman Coulter Inc., PerkinElmer Inc., Bio-Rad Laboratories Inc., Curia Global Inc, Promega Corporation, Takara Bio Inc, AB Sciex LLC, QPS Holdings LLC, Simulations Plus Inc., Cyprotex, XenoTech LLC, BioIVT LLC, Absorption Systems, Creative Bioarray, SOLVO Biotechnology Rt., Creative Biolabs Inc, Gentronix Limited, Admecell Inc., Molecular Discovery Ltd.
Market Drivers:
The rising demand for novel drugs is expected to propel the growth of the ADME toxicology testing market going forward. Novel drugs are pharmaceutical substances that have not been previously approved or marketed for therapeutic use. ADME toxicity testing is a major step in drug development to ensure that the novel drug is safe and doesn't produce any harmful toxins in the body. For instance, according to the US Food and Drug Administration, a US-based health regulatory authority approved 53 novel drugs in 2022, compared to 50 drugs in the previous year. Therefore, the rising demand for novel drugs is driving the growth of the ADME toxicology testing market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/adme-toxicology-testing-global-market-report
The adme toxicology testing market covered in this report is segmented -
1) By Product Type: Instruments, Software Solutions, Assays Systems, Reagents, Other Products
2) By Method: Cellular Assay, Biochemical Assay, In Silica, Ex-vivo
3) By Technology: Cell Culture, High Throughput, Molecular Imaging, OMICS Technology, Other Technologies
4) By Application: Systemic Toxicity, Renal Toxicity, Hepatotoxicity, Neurotoxicity, Other Applications
5) By End-User: Cosmetics And Household Products, Pharmaceutical Industry, Animal Industry, Food Industry, Other End Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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