Global Pharmacokinetics Services Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Drug Type & Region (North America, Europe, APAC, Latin America, Middle East and Africa) – Industry Forecast (2024 to 2029)

Updated On: January, 2024
ID: 12533
Pages: 190

Global Pharmacokinetics Services Market Size (2024 to 2029)

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.

Current Scenario of the Global Pharmacokinetics Services Market

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.

MARKET DRIVERS

The growing efforts to establish a standardized pharmacokinetic monitoring approach and increasing concerns for the effective implementation of PK services in the drug development process are propelling the growth of the pharmacokinetics services market.

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.

PK/PD analysis has helped transition drug development from preclinical to quick and efficient in-human trials.

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 growing R&D activities and the presence of well-established biotechnology and pharmaceutical organizations and technical advancements are promoting the growth of the global pharmacokinetics services market.

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.

MARKET RESTRAINTS

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.

Impact Of COVID-19 On the Global Pharmacokinetics Services Market

COVID-19, a novel coronavirus disease produced by the new coronavirus 2019-CoV, SARS-CoV-2 (severe acute respiratory syndrome-related coronavirus), poses a pandemic threat to the worldwide public health. The COVID-19 pandemic has altered growth forecasts for various industries and businesses. PK has risen to prominence in drug development over the last few decades. After realizing the importance of pharmacokinetics in drug development, governments and regulatory agencies work hard to standardize pharmacokinetics. It is critical to conduct well-designed PK studies specifically for COVID-19 patients, multi-institutional collaboration and clinical pharmacologists' participation in multidisciplinary research consortia for this goal. As a result, the market has had moderate growth during the pandemic and is projected to accelerate during the forecast period.

REPORT COVERAGE

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

 

SEGMENTAL ANALYSIS

Global Pharmacokinetics Services Market Analysis By Drug Type

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.

REGIONAL ANALYSIS

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.

KEY PLAYERS IN THE GLOBAL PHARMACOKINETICS SERVICES MARKET

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.

RECENT HAPPENINGS IN THE MARKET

  • In April 2024, MIT engineers and researchers displayed another method to create a chemotherapy dose more precise and personalized patient-wise. The aim is to build an automated monitoring system that provides real-time drug personalization to achieve better results. For this, they emphasized 5-fluorouracil, which is a drug utilized for colorectal cancer treatment. Moreover, their approach assesses the amount of drug that is there in the patient's system and these evaluation details are then fed on a controller capable of adjusting the injection rate accordingly.
  • In January 2024, EicOsis Human Health initiated phase 1b of the study of EC5026. It is the first dissolvable epoxide hydrolase inhibitor (sEHI) made for chronic pain treatment. The objective of the research is to evaluate the drug candidate’s pharmacokinetics and safety throughout the 7 days against a placebo. Besides this, the early-phase studies revealed that there is no proof of anesthesia, unfavorable behavioral impacts, or dependence.  

DETAILED SEGMENTATION OF THE GLOBAL PHARMACOKINETICS SERVICES MARKET INCLUDED IN THIS REPORT

This research report on the global pharmacokinetics services market has been segmented and sub-segmented based on drug type and region.

By Drug Type

  • Small Molecules Pharmacokinetics Services
  • Large Molecules (Biopharmaceuticals) Pharmacokinetics Services

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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Frequently Asked Questions

What is the growth rate of the pharmacokinetics services market?

The global pharmacokinetics services market is predicted to grow at a CAGR of 9.12% from 2023 to 2028.

What are the major drivers of the pharmacokinetics services market?

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.

Who are the major players in 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.

What are some of the challenges facing 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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