Press release
Pharma ADMET Testing Market on the Rise: Exploring Impact of CAGR, Growth Drivers, and Key Trends
Pharma ADMET Testing Market
What Is The Projected Market Size Of The Global Pharma ADMET Testing Market And Its Growth Rate?
The Pharma ADMET Testing Market is witnessing significant growth, primarily driven by increased biopharmaceuticals and biosimilars, rising drug development activities, among others.
•2024 Market Size: $9.67 billion
•2025 Market Size: $10.73 billion (CAGR of 10.9%)
•2029 Market Size: $17.1 billion (CAGR of 12.4%)
This growth is attributed to environmental toxicology and safety assessment, innovation in pharmacogenomics, focus on precision medicine, and integration of artificial intelligence (AI).
What Is Driving The Growth In The Pharma ADMET Testing Market?
The growth of the Pharma ADMET Testing Market is primarily driven by the rising number of product approvals. Regulatory authorities such as the U.S Food and Drug Administration (FDA) or the European Medicines Agency (EMA) approve these products for marketing and selling to the public. ADMET testing plays a crucial role in determining the safety and efficacy of novel products and is mandatory in product regulatory approvals. For instance, in 2024, the U.S FDA approved 55 new drugs, up from 37 approved drugs in 2023. Therefore, the rising number of product approvals is driving the Pharma ADMET Testing Market's growth.
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Who Are the Key Players Driving Pharma ADMET Testing Market Growth?
•Thermo Fisher Scientific Inc.
•The Merck Group
•Laboratory Corporation of America Holdings
•IQVIA Inc.
•PPD ICON plc
•Agilent Technologies Inc.
•Wuxi AppTec Co. Ltd.
•Catalent Inc.
•Covance Inc.
•Charles River Laboratories International Inc.
What Are The Key Trends In The Pharma ADMET Testing Market?
Key trends in the Pharma ADMET Testing market include:
•Increasing collaboration in research
•Rapid technological innovations
•Advancements in analytical technologies
•Continuous monitoring of drug safety
•Environmental impact considerations
What Are The Segments Of The Global Pharma ADMET Testing Market?
1) By Testing Type: In Vivo ADMET Testing, In Vitro ADMET Testing, In Silico ADMET Testing
2) By Technology: Cell Culture, High Throughput, Molecular Imaging, OMICS Technology
3) By Application: Systemic Toxicity, Renal Toxicity, Hepatotoxicity, Neurotoxicity, Other Applications
Which Region Leads The Pharma ADMET Testing Market?
Asia-Pacific was the largest region in the Pharma ADMET Testing Market in 2024. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Pharma ADMET Testing Market Global Market Report?
- Market Size Analysis: Analyze the Pharma ADMET Testing Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Pharma ADMET Testing Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Pharma ADMET Testing Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Pharma ADMET Testing Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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