The Business Research Company's ADME Toxicology Testing Market Growth Analysis With Investment Opportunities For 2024-2033

LONDON, GREATER LONDON, UK, August 6, 2024 /EINPresswire.com/ -- The ADME toxicology testing market has experienced robust growth in recent years, expanding from $9.3 billion in 2023 to $10.34 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to stringent regulatory requirements, rising drug development activities, growing concerns about drug safety, advancements in in vitro testing methods, increased outsourcing of toxicology studies.

Strong Future Growth Anticipated
The ADME toxicology testing market is projected to continue its strong growth, reaching $15.77 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to rapid expansion of biopharmaceuticals, growing emphasis on personalized medicine, emergence of advanced therapies, enhanced predictive toxicology models, global increase in chemical safety testing.

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Growth Driver Of The ADME Toxicology Testing Market
The rising demand for novel drugs is expected to propel the growth of the ADME toxicology testing market going forward. Novel drugs are pharmaceutical substances that have not been previously approved or marketed for therapeutic use. ADME toxicity testing is a major step in drug development to ensure that the novel drug is safe and doesn’t produce any harmful toxins in the body.

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Major Players And Market Trends
Key players in the ADME toxicology testing market include AbbVie Inc., Thermo Fisher Scientific Inc., Boehringer Ingelheim GmbH, Laboratory Corporation of America Holdings, Corning Incorporated.
Technological advancements are a key trend gaining popularity in the ADME toxicology testing market. Major companies operating in the ADME toxicology testing market are introducing innovative assay solutions based on advanced technologies such as Logica to sustain their position in the market.

Segments:
1) By Product Type: Instruments, Software Solutions, Assays Systems, Reagents, Other Products
2) By Method: Cellular Assay, Biochemical Assay, In Silica, Ex-vivo
3) By Technology: Cell Culture, High Throughput, Molecular Imaging, OMICS Technology, Other Technologies
4) By Application: Systemic Toxicity, Renal Toxicity, Hepatotoxicity, Neurotoxicity, Other Applications
5) By End-User: Cosmetics And Household Products, Pharmaceutical Industry, Animal Industry, Food Industry, Other End Users

Geographical Insights: North America Leading The Market
North America was the largest region in the ADME toxicology testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ADME toxicology testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

ADME Toxicology Testing Market Definition
ADME toxicology testing is a set of studies conducted to assess the potential toxicity of a substance or drug candidate based on its absorption, distribution, metabolism, and excretion (ADME) properties. These tests are used in drug development to ensure the well-being of individuals exposed to substances.

ADME Toxicology Testing Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The ADME Toxicology Testing Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on ADME toxicology testing market size, ADME toxicology testing market drivers and trends, ADME toxicology testing market major players, ADME toxicology testing competitors' revenues, ADME toxicology testing market positioning, and ADME toxicology testing market growth across geographies. The ADME toxicology testing market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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