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Oct 1, 2020 11:58 AM ET

Global Pharmacokinetics Services Market Is Set For Moderate Growth, To Reach Around USD 1,237.3 Million by 2025

iCrowd Newswire - Oct 1, 2020

Zion Market Research has published a new report titled “Pharmacokinetics Services Market by Drug Type (Large Molecules and Small Molecules): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2025”. According to the report, global demand for pharmacokinetics services market was valued at approximately USD 719.8 million in 2018, and is expected to generate revenue of around USD 1,237.3 million by end of 2025, growing at a CAGR of around 8.1% between 2019 and 2025.

Pharmacokinetics (PK) is study of ADME profile of drug substance i.e. absorption, distribution, metabolism and excretion in an organism. The substance may be any xenobiotic such as food additives, biopharmaceutical drug, cosmetics, pharmaceutical drugs, pesticides etc. Study of detailed mechanism of absorption and chemical drug metabolism of administered substance is done to assess the fate from the time of administration to complete elimination from the body. Pharmacokinetics involves study of how an organism reacts to the administered drug whereas pharmacodynamics study is how drug affects the organism. Pharmacokinetics and pharmacodynamics studies play important role in determining the dosing, adverse effects and potential therapeutic effects.

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Global pharmacokinetics services market is growth is fueled by growing clinical trial attrition rate of therapeutic drugs due to poor pharmacokinetics. In order to reduce drug attrition in clinical trials in advanced phases, many of the researchers emphasize on investigating pharmacokinetics studies at each developmental stage. PK studies allow early determination of potential challenges that may lead to drug attrition during late drug development stages and thus allow evaluating and implementing modifications required and development strategies need to be implemented. Additionally, demand for efficient and rapid preclinical studies and stringent regulatory requirements are projected to propel the pharmacokinetics services market growth in the coming years. Different drug candidate reacts differently and different protocols need to be set for PK studies which is a time consuming process and is expensive. Thus, high cost of pharmacokinetics studies may act as restraining factor for the market growth during the forecast period. Emerging nations such as India and China are expected to open new growth opportunities for pharmacokinetics service providers over the forecast period.

The pharmacokinetics services market is segmented based on drug type and region. Based on drug type, market is segmented into large molecule pharmacokinetics services and small molecule pharmacokinetics services. Small molecule PK services are used for study of absorption, metabolism and excretion evaluation of small molecular weight drugs using chromatography and spectroscopic assays. Large molecule PK studies deal with protein quantification and evaluation of peptide interaction of large molecular weight molecules. Market was dominated by small molecule segment in 2018 whereas large molecule segment is expected to witness highest growth during the forecast period.

North America represents developed regional market for pharmacokinetics services. Presence of developed R&D infrastructure, presence of established pharmaceutical and biopharmaceutical companies, increasing clinical trial registrations, technological advancements are major factors driving the market growth in this region. Europe was second leading market in 2018. Increasing drug development spending, collaborations of drug manufacturers with clinical research organizations are expected to propel market growth in this region. Latin America is will see noticeable growth during the forecast period. Asia Pacific is estimated to be rapidly growing regional market for pharmacokinetics services. Focus of major CROs, pharmaceutical and biopharmaceutical companies on growth opportunities in emerging markets, and potential business expansion are factors that are expected to boost market growth in Asia Pacific. Middle East and Africa will register sluggish growth over the forecast period due to poor R&D infrastructure.

Major players included in the report are Certara, L.P., Evotec AG, Shanghai Medicilon Inc., GVK Biosciences Private Limited, Pharmaceutical Drug type Development, LLC, Pacific BioLabs, Charles River Laboratories International, Inc., Eurofins Scientific, Inc., PAREXEL International Corporation, Frontage Labs, Creative Bioarray, LGC Limited, and SGS SA among others.

The report segment of global pharmacokinetics services market as follows:

Global Pharmacokinetics Services MarketDrug type

Global Pharmacokinetics Services Market: By Region

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Keywords:    Pharmacokinetics Services Market

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