The global Pharmacokinetics Services Market size is expected to reach USD 1.2 billion by 2025, according to a new report by Grand View Research, Inc., registering an 8.3% CAGR during the forecast period. Rising adoption of pharmacokinetic and toxicology studies for determination of several parameters such as no-observed-effect levels (NOEL), human equivalent doses (HED) levels, and pharmacokinetic/pharmacodynamic (PK/PD) drivers are expected to fuel market growth.
Thorough
understanding of the pharmacokinetic profile of a potential drug candidate
plays a major role in the success of a drug discovery program. In addition to
this, regulatory bodies have played a major role in the progress of this market
through establishing defined guidelines for conducting PK studies. There are a
substantial number of CROs engaged in conducting PK studies in accordance with
relevant EMEA, ICH, FDA, GCP, and other regulatory guidelines.
Growing
concern for effective implementation of PK services in the drug development
process is anticipated to drive investments in this sector. Several conferences
and certification courses are being conducted across the world to increase the
understanding of various paradigms associated with pharmacokinetics application
in clinical and preclinical drug development.
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Further key findings from the report suggest:
- Based on
drug type, PK services for small molecules dominated the market in 2017 and
is expected to maintain its lead during the forecast period fueled by high
service penetration and growing popularity of generics
- PK services
for large molecules are expected to grow significantly during the forecast
period, driven by presence of significant number of biologics and
biosimilars in the clinical development phase
- Presence of
a large number of biopharmaceutical and pharmaceutical manufacturing
entities in U.S. has resulted in North America accounting for the largest
share in 2017
- Asia Pacific
is expected to grow lucratively throughout the forecast period thanks to
constant economic growth in several countries, which has attracted
significant attention from global CROs and resulted in business expansions
- Pharmaceutical
Product Development, LLC; Charles River Laboratories International, Inc.;
PAREXEL International Corporation; and Eurofins Scientific, Inc. are some
of the key service providers
- These CROs
are undertaking various initiatives in order to capitalize on new market
avenues and enhance their share in the future market.
About Us:
Grand View Research, Inc. is a U.S. based market
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headquartered in San Francisco. The company provides syndicated research reports,
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informed business decisions, the company offers market intelligence studies
ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
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