The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s ADME Toxicology Testing Global Market Report 2024, the ADME toxicology testing market is expected to show significant growth in the forecast period.

A Market on the Rise

• The ADME toxicology testing market has witnessed rapid expansion, growing from $9.3 billion in 2023 to $10.34 billion in 2024, marking a compelling compound annual growth rate (CAGR) of 11.2%.
• This growth trajectory is attributed to several factors:
  • Stringent regulatory requirements.
  • Rising drug development activities.
  • Growing concerns about drug safety.
  • Advancements in in vitro testing methods.
  • Increased outsourcing of toxicology studies.

Anticipating Future Growth

• The market is poised for continued expansion, with projections estimating a size of $15.77 billion by 2028, boasting a CAGR of 11.1%.
• Key drivers for this growth include:
  • Rapid expansion of biopharmaceuticals.
  • Growing emphasis on personalized medicine.
  • Emergence of advanced therapies.
  • Enhanced predictive toxicology models.
  • Global increase in chemical safety testing.

View More On The ADME Toxicology Testing Market Report 2024 – https://www.thebusinessresearchcompany.com/report/adme-toxicology-testing-global-market-report

Embracing Transformative Trends

• Significant trends forecasted for the upcoming period:
  • Expansion of biomarker applications.
  • Integration of multi-omics data.
  • Regulatory emphasis on in vitro testing.
  • Collaborations and partnerships.
  • Continuous advancements in technology.

Surge In Demand For Novel Drugs Propels Growth In The ADME Toxicology Testing Market

• The rising demand for novel drugs serves as a catalyst for the ADME toxicology testing market.
• Novel drugs necessitate rigorous testing to ensure safety, driving the market forward.
• Noteworthy companies contributing to the market include AbbVie Inc., Thermo Fisher Scientific Inc., Boehringer Ingelheim GmbH, among others.

AI-Based Advancement In ADME Toxicology Testing

• Technological innovations play a pivotal role in shaping the landscape.
• Major companies are leveraging AI-driven solutions for enhanced testing processes.
• Example: Charles River Laboratories International Inc. and Valo Health Inc. collaborated to launch Logica, an AI-based drug development solution.

BioiVT Strengthens Capabilities With Acquisition Of Xenotech

• In September 2022, BioIVT acquired XenoTech, fortifying its position in the market.
• This strategic move expands BioIVT’s product portfolio and geographical reach.
• XenoTech, a leading contract research organization, specializes in ADME-toxicology testing services.

Segmentation Insights

• The ADME toxicology testing market is segmented across various parameters:
  1. Product Type: Instruments, Software Solutions, Assays Systems, Reagents, Other Products.
  2. Method: Cellular Assay, Biochemical Assay, In Silica, Ex-vivo.
  3. Technology: Cell Culture, High Throughput, Molecular Imaging, OMICS Technology, Other Technologies.
  4. Application: Systemic Toxicity, Renal Toxicity, Hepatotoxicity, Neurotoxicity, Other Applications.
  5. End-User: Cosmetics And Household Products, Pharmaceutical Industry, Animal Industry, Food Industry, Other End Users.

Regional Dynamics

• North America dominated the ADME toxicology testing market in 2023.
• Asia-Pacific is anticipated to exhibit the fastest growth in the forecast period.

Conclusion
The ADME toxicology testing market stands at the crossroads of innovation and necessity, driven by the demand for safer, more effective pharmaceuticals. As advancements continue to reshape the landscape, stakeholders must remain agile and adaptable to harness the myriad opportunities that lie ahead. With technology as a cornerstone, the journey towards safer drugs and enhanced patient outcomes is within reach. As we navigate the evolving dynamics, collaboration, innovation, and regulatory compliance will remain paramount, ensuring a robust foundation for the future of ADME toxicology testing.

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