Global Industry Analysts Predicts the World ADME-Toxicology Testing Market to Reach $11.1 Billion by 2026
SAN FRANCISCO, Oct. 7, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "ADME-Toxicology Testing - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 16; Released: September 2021
Executive Pool: 3707
Companies: 79 - Players covered include ACEA Biosciences Inc.; ADMEcell Inc.; Agilent Technologies, Inc.; Albany Molecular Research Inc.; Beckman Coulter Inc.; CompuDrug International Inc.; Cyprotex PLC.; Dassault Systèmes Biovia Corp.; Eurofins ADME BIOANALYSES SAS; Galapagos NV; Molecular Discovery Ltd.; MultiCASE Inc.; Optivia Biotechnology; PerkinElmer Inc.; Promega Corporation; Simulations Plus Inc.; Takara Bio Europe AB; Tecan Group Ltd.; Thermo Fischer Scientific Inc. and Others.
Coverage: All major geographies and key segments
Segments: Technology (Cell Culture, High Throughput Screening, Molecular Imaging, OMICS, Other Technologies); Method (Cellular Assay, Biochemical Assay, Ex-Vivo, In Silica); Application (Systemic Toxicity, Renal Toxicity, Hepatotoxicity, Neurotoxicity, Other Applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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ABSTRACT-
Global ADME-Toxicology Testing Market to Reach US$11.1 Billion by the Year 2026
ADME is a commonly used abbreviation (for absorption, distribution, metabolism, and excretion) in pharmacology and pharmacokinetics, used to explain the disposition of a pharmaceutical compound inside an organism. Absorption, distribution, metabolism, and excretion individually affect the pharmacological activity and performance of the compound as a medicine, as these features control the level of drug interaction with the tissues. The global ADME toxicity tests market is poised to grow significantly due to the tests for late-stage drug failures as they can help in saving valuable time and investment in drug development. Major factors driving growth in the market include growing demand from pharmaceutical developers and biotechnology companies due to benefits of reduced cost involved in drug discovery and development process as well as reduced time frame for new drug development. Market prospects are also favored by technological advancements such as in silico technologies, which are increasingly being used owing to their ability to deliver rapid results. Drug developers are increasingly focusing on ADME and toxicology properties for assessing the efficacy and safety profile of drug candidates, which represent key components for a regulatory approval. These insights allow companies to decide about further progress as well as file for regulatory approval. The development of software that could automatically calculate ADME is contributing to testing with the use of new cell-based in vitro assays over the traditional in vivo experiments.
Amid the COVID-19 crisis, the global market for ADME-Toxicology Testing estimated at US$6 Billion in the year 2020, is projected to reach a revised size of US$11.1 Billion by 2026, growing at a CAGR of 10.9% over the analysis period. Cell Culture, one of the segments analyzed in the report, is projected to grow at a 13.4% CAGR to reach US$5.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the High Throughput Screening segment is readjusted to a revised 7.6% CAGR for the next 7-year period. This segment currently accounts for a 28.9% share of the global ADME-Toxicology Testing market. Cell culture technology is popularly harnessed for the development of oral solutions for several infectious diseases. 3D cell cultures are gaining significance as they can display visual results and can help in testing lower volumes. HCS is rapidly emerging as an effective screening technology due to features such as high throughput and significant data quantity, enabled by advancements in robotics, instrumentation, image and data analysis software, storage and management tools. HCS-based strategies have today become a key part of preclinical drug testing, systems biology, and personalized medicine.
The U.S. Market is Estimated at $3.4 Billion in 2021, While China is Forecast to Reach $856.6 Million by 2026
The ADME-Toxicology Testing market in the U.S. is estimated at US$3.4 Billion in the year 2021. The country currently accounts for a 49.5% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$856.6 Million in the year 2026 trailing a CAGR of 15.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.3% and 12.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.3% CAGR while Rest of European market (as defined in the study) will reach US$966.9 Million by the end of the analysis period. The US and Europe represent key markets due to the presence of large pharmaceutical companies. The considerable research funding for toxicology testing and cell cultures being increasingly deployed in drug discovery drive growth in the US market.
Molecular Imaging Segment to Reach $1.9 Billion by 2026
In the global Molecular Imaging segment, USA, Canada, Japan, China and Europe will drive the 9.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$974.7 Million in the year 2020 will reach a projected size of US$1.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$122.7 Million by the year 2026. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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