The latest market report published by Acute Market Reports “Global ADME Toxicology Testing Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 - 2023,” the ADME toxicology testing was valued at USD 6,986.2 Mn in 2015, and is expected to reach USD 14,319.9 Mn by 2023, expanding at a CAGR of 10.6% from 2016 to 2023.
Browse the full report ADME Toxicology Testing Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2023 at https://www.acutemarketreports.com/report/adme-toxicology-testing-market
Market Insights
ADME is the abbreviation for absorption distribution, metabolism and elimination, a pharmacology and pharmacokinetics term that describes the disposition of a drug or compound inside the human body. ADME comprises set of four processes that develop the performance of a drug on human tissue and ADME toxicology testing is applied for the development of a new drug. ADME toxicology facilitated pharmaceutical manufacturing company to minimize their drug discovery time, testing complications, and to reduce the cost of drug development. The growing application of ADME toxicology testing by pharmaceuticals and biotechnology companies is assisting the market growth of the ADME toxicology testing market. One of the key factors responsible for late stage drug failures is the inability of drug candidates to imitate in humans the safety profile witnessed in animal models. Before introduction and acceptance of ADME toxicology testing, drug development process included toxicity and efficacy testing in in-vivo environment which was responsible for late stage failure of drugs in human body due to anatomical and genetic differences between animals and humans. To overcome this barrier of drug failure manufacturers across the globe opted for ADME toxicity testing in early drug developmental phases of pre-clinical trials. Increasing adoption of ADME toxicity testing as cost and time curbing tool is further expected to drive growth of this market. Introduction of technologically advanced computer based testing models are additionally fuelling growth of this market. According to market stakeholders, recently pre-clinical ADME toxicology testing is emerging to take on a new application in the drug-discovery venture capital (VC) industry’s financial decision that corresponds in importance and scope to its established role in the scientific decisions of drug discovery firms.
Market Competition Assessment
The ADME toxicology testing market is observed as the most diversified and competitive market comprising large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are Cellartis AB, Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Inc., Caliper Life Sciences, Inc., Promega Corporation, Cyprotex PLC, Beckman Coulter, Inc., Optivia Biotechnology, Inc., Accelrys, Inc., Molecular Discovery Ltd., MultiCASE, Inc., Xceleron, Inc., ACEA Biosciences, Inc., Albany Molecular Research, Inc., and CeeTox, Inc.
Key Market Movements
