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According to the latest report by IMARC Group, titled “ADME Toxicology Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global ADME toxicology testing market reached a value of US$ 7.1 Billion in 2021. Absorption, distribution, metabolism, and excretion (ADME) toxicology testing is performed by researchers in the early phase of the drug development. It assists in discovering and identifying the presence of active metabolites in the plasma and determining the safety, uptake, effectiveness, and metabolic behavior of a drug in living organisms. It also evaluates the safety and toxicity of a drug, thereby saving cost, drug discovery time, and test complications.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global ADME Toxicology Testing Market Trends:
ADME toxicology testing is widely used to prevent the failure of candidate drugs at late-stage clinical trials and determine the viability of drugs for regulatory approval. This, in confluence with the increasing rate of drug failure and escalating demand for novel drugs, represents one of the significant factors fueling the growth of the market. Moreover, numerous technological advancements to improve the standard of medicines are creating a favorable market outlook. Besides this, the market is also driven by the increasing adoption of innovative software solutions that can calculate ADME automatically. Furthermore, the outbreak of coronavirus disease (COVID-19) has escalated the need for estimating the efficacy of existing drugs as an alternative treatment. This can be accredited to the lack of a vaccine worldwide. Looking forward, the market value is projected to grow at a CAGR of 13.73% during the forecast period (2022-2027).
Market Summary:
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