The global pharmacokinetics services market is predicted to grow at a CAGR of 9.12% from 2024 to 2029 and be worth USD 1.76 billion by 2029 from USD 1.13 billion in 2024.
Any chemical xenobiotic can be used, including pharmaceutical medications, food additives, prescription drugs, cosmetics, pesticides and others. Pharmacokinetics and pharmacodynamics research determine dosing, side effects, and potential therapeutic outcomes.
The pharmacokinetics services market is witnessing changes because of the rising biotech drug industry, online health services and patient expiration of popular drugs. Apart from this, the last couple of years were quite fruitful with the advancements in vaccine building, cancer therapies, and transforming obesity management with GLP-1 medicine. This further extended to innovations in gene therapy and editing technology for strange diseases and modern remedies for complicated issues such as Alzheimer’s. Despite such positive results and success, the industry has not been able to convert this into a financial victory. Companies in the market are struggling to elevate their performances in capital markets regarding indexes.
Moreover, the American pharmacokinetics market is more effective and inventive and has a large pool of trained and skilled healthcare professionals and workers. Along with this, it has a better gender balance against the manufacturing industry. But it falls short in the pace of innovation which affects its sales since a large sum of money goes into R&D activities. Whereas the European industry, in an overall sense, is similar except for the high wages. In Asia, there is an oligopoly in the regional markets. Besides all these, according to a study, it was discovered that most prodrugs originated from small molecules. Also, the DrugBank database had 211 prodrugs approved. The most frequent prodrug changes are amide, ester and carbamate groups.
A variety of conferences and certification courses being held around the world to increase understanding of various paradigms associated with pharmacokinetics application in clinical and preclinical drug development, and improving clinical trial registrations are a few of the significant factors promoting growth for the global pharmacokinetics services market. The development of the preliminary clinical trial attrition rate of pharmacokinetics for medicinal medications fills the gap in global pharmacokinetics administrations. Many scientists underline the need to examine pharmacokinetics to minimize the use of pharmaceutical goods in therapeutic preliminaries at an advanced level.
Human in vivo and in vitro models for evaluating pharmacokinetics variability in the clinical development phase has been established for many medications. In addition, PK examinations provide early detection of potential problems that could result in a progressive loss of prescription during the late stages of drug development, allowing for the evaluation and implementation of essential alterations, and should be modified using advanced systems.
The market is also projected to be fuelled by the massive increase in funding spent on discovering new and more effective drug candidates for treating the world's rapidly growing patient population suffering from various chronic ailments. Furthermore, increasing government investments in healthcare and life sciences increase demand for pharmacokinetics services worldwide. Some companies have expanded their service portfolio to keep their competitive edge as medication research has progressed toward sound pharmacology. This is demonstrated by many companies offering a diverse service portfolio to support various stages of pharmaceutical development. In addition, socio-economic variables such as rising global healthcare expenditures and a significant increase in the global population of geriatrics are also favorable to the market.
The growth of the global pharmacokinetics services market is forecasted to be restricted by the high cost of systems and technologies and a lack of innovation in electrophoresis equipment technology. Limitations associated with in vitro PKPD investigations, and the high price of pharmacokinetics research are predicted to serve as market barriers for pharmacokinetics services growth in the forecasted timeframe. The lack of innovation in electrophoresis equipment technology will be the market's biggest and most serious challenge.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
Segments Covered |
By Drug Type & Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges; PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
Key Market Players |
Certara, L.P., Evotec AG, Shanghai Medicilon Inc., GVK Biosciences Private Limited, Pharmaceutical Drug type Development LLC, Pacific BioLabs, Charles River Laboratories International Inc., Eurofins Scientific Inc., PAREXEL International Corporation, Frontage Labs and Creative Bioarray |
Small molecule PK services utilize spectroscopic tests and chromatography to investigate small molecular weight medicines' absorption, metabolism, and excretion. In addition, large molecule PH research studies protein quantification and peptide interaction of significant molecular weight compounds. The small molecule segment held the largest share of the global market in 2020, while the large molecule sector is predicted to grow the fastest throughout the forecast period.
Due to the prevalence of well-established pharmaceutical companies and the growing number of research and development activities in the region, the United States dominates the North American pharmacokinetics services market.
Europe was the second-largest market. Drug manufacturers' collaborations with clinical research institutes and increased drug development investment are projected to drive market expansion in this region.
Pharmacokinetics services are expected to be a fast-rising regional market in the Asia Pacific. Major CROs, pharmaceutical and biopharmaceutical firms' focus on emerging market growth opportunities, and prospective corporate expansion are likely to increase market growth in the Asia Pacific. Over the forecast time range, developing countries such as India and China will be required to open new development doors for specialized specialty co-ops. In addition, technological advancements are expected to provide further development paths for major vital players in the next few years.
Companies playing a significant role in the global pharmacokinetic services market include Certara, L.P., Evotec AG, Shanghai Medicilon Inc., GVK Biosciences Private Limited, Pharmaceutical Drug type Development LLC, Pacific BioLabs, Charles River Laboratories International Inc., Eurofins Scientific Inc., PAREXEL International Corporation, Frontage Labs and Creative Bioarray.
By Drug Type
By Region
Frequently Asked Questions
The global pharmacokinetics services market is predicted to grow at a CAGR of 9.12% from 2023 to 2028.
The growing demand for personalized medicine, the growing number of clinical trials, and the rising need for drug safety and efficacy testing are majorly driving the pharmacokinetics services market.
Eurofins Scientific, Charles River Laboratories International, Inc., WuXi AppTec, Covance, Inc., and ICON plc are some of the key players in the pharmacokinetics services market.
The high cost of services, the need for specialized equipment and expertise, and the increasing regulatory requirements are some of the major challenges to the pharmacokinetics services market.
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