Global Pharmacokinetics Services Market, By Type (Small Molecules Pharmacokinetics Services, Large Molecules (Biopharmaceuticals) Pharmacokinetics Services), Application (Small and Medium Enterprise, Large Enterprise) - Industry Trends and Forecast to 2030.
Pharmacokinetics Services Market Analysis and Size
The growth of the global pharmacokinetics services market can be attributed to several factors. The pharmaceutical industry has been experiencing a consistent demand for new drugs and therapies. This demand has driven pharmaceutical companies to invest heavily in research and development, leading to a higher need for pharmacokinetic studies. Pharmacokinetics services help in understanding how drugs are absorbed, distributed, metabolized, and excreted by the body, which is crucial for determining their effectiveness and safety profiles. Regulatory agencies such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have stringent requirements for the approval of new drugs. Pharmacokinetic studies are an integral part of demonstrating the safety and efficacy of a drug, ensuring that it meets the necessary regulatory standards before it can be approved for market launch.
Data Bridge Market Research analyses that the global pharmacokinetics services market which was USD 883.46 million in 2022, is expected to reach USD 1,554.64 million by 2030, and is expected to undergo a CAGR of 7.30% during the forecast period of 2023 to 2030. “Small molecules pharmacokinetics services” dominates the type segment of the global pharmacokinetics services market owing to the increasing aging population. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Pharmacokinetics Services Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Small Molecules Pharmacokinetics Services, Large Molecules (Biopharmaceuticals) Pharmacokinetics Services), Application (Small and Medium Enterprise, Large Enterprise)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E., Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Evotec SE (Germany), Certara, L.P. (U.S.), Pacific Biolabs Inc (U.S.), GVK Biosciences Private Limited (India), Shanghai Medicilon inc. (China), PPD Inc. (U.S.), Charles River Laboratories. (U.S.), Parexel International Corporation. (U.S.), Eurofins Scientific (Luxembourg), Frontage Labs. (Pennsylvania), SGS SA (Switzerland), LGC Limited (U.K.), Creative Bioarray (U.S.), Biologics Consulting Group, Inc. (U.S.), Cyprotex Limited (u.K.) ICON plc (Ireland), Nuventra Pharma Sciences (U.S.), Absorption Systems (U.S.), Pfizer Inc. (U.S.), SEKISUI XenoTech, LLC (U.S.)
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Market Opportunities
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Market Definition
Pharmacokinetics (PK) is a pharmacology division devoted to determining the fate of drugs that are administered to a living organism. It explains how after administration, the body influences any particular chemical by metabolic modifications of substances in the body and the route of excretion of the drug's metabolites. Pharmacokinetics is a study of how a drug is influenced by an organism. The chemical property of pharmacokinetics are affected by the route of administration and the dose of an administered drug which may affect the absorption rate.
Global Pharmacokinetics Services Market Dynamics
Drivers
- Increasing Drug Development Activities
The growing demand for new drugs and therapies has led to increased drug development activities in the pharmaceutical industry. Pharmacokinetics services play a crucial role in drug development by providing valuable insights into the absorption, distribution, metabolism, and elimination of drugs. The need for pharmacokinetic studies to support regulatory submissions and ensure drug safety and efficacy drives the demand for these services.
- Rising Outsourcing of Drug Development Services
Pharmaceutical companies are increasingly outsourcing various aspects of drug development to contract research organizations (CROs) and specialized service providers. Outsourcing pharmacokinetics services allows companies to access specialized expertise, state-of-the-art facilities, and advanced technologies without significant investments in infrastructure and personnel. This trend boosts the demand for pharmacokinetics services globally.
- Emphasis on Personalized Medicine
The field of personalized medicine is gaining traction, with a focus on tailoring medical treatments to individual patients based on their genetic makeup, lifestyle, and other factors. Pharmacokinetic studies help in understanding the inter-individual variability in drug response, optimizing dosing regimens, and minimizing adverse effects. The growing interest in personalized medicine drives the need for pharmacokinetics services to support precision drug dosing.
- Regulatory requirements and compliance
Regulatory agencies, such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), have stringent guidelines for drug development and approval. Pharmacokinetic studies are essential to demonstrate the safety, efficacy, and quality of drugs. Compliance with regulatory requirements necessitates the use of pharmacokinetics services to generate robust data and meet the necessary regulatory standards.
Opportunities
- Technological Advancements
Technological advancements in analytical techniques, such as LC-MS, high-performance liquid chromatography (HPLC), and mass spectrometry, have improved the accuracy and sensitivity of drug analysis. In addition, advances in pharmacokinetic modeling and simulation tools have enhanced the prediction and optimization of drug behavior in the body. These technological advancements have expanded the capabilities of pharmacokinetics services, making them more efficient and reliable.
- Increasing Preclinical and Clinical Research
The growth of preclinical and clinical research, including early-phase clinical trials, drives the demand for pharmacokinetics services. Pharmacokinetic studies are conducted during preclinical stages to assess drug properties and guide dose selection for human trials. In clinical trials, pharmacokinetics services help monitor drug levels in participants, evaluate drug-drug interactions, and provide insights into dosing adjustments.
Restraints/Challenges
- High Cost of Pharmacokinetic Studies
Pharmacokinetic studies can be complex and require specialized expertise, advanced equipment, and sophisticated analytical techniques. These factors contribute to the high cost of conducting pharmacokinetic studies. The cost-intensive nature of these services can limit the accessibility of pharmacokinetics services, particularly for small and medium-sized pharmaceutical companies with limited budgets.
- Stringent Regulatory Requirements
While regulatory requirements drive the demand for pharmacokinetics services, they can also pose challenges. Meeting the stringent guidelines set by regulatory agencies, such as the FDA and EMA, requires careful planning, execution, and documentation of pharmacokinetic studies. The extensive regulatory compliance process can be time-consuming and costly, potentially delaying drug development timelines and increasing overall costs.
This global pharmacokinetics services market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global pharmacokinetics services market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In May 2022, Tasso, Inc., a leader in clinical-grade blood collection solutions, announced the launch of Tasso PopPK Solutions, an integrated patient-centric offering for Population Pharmacokinetics (“PopPK”). With the launch of Tasso PopPK Solutions, Tasso now enables pharmaceutical companies to operationalize pharmacokinetic studies as part of their decentralized clinical trial efforts. Tasso's remote solution supports the scalable and convenient acquisition of pharmacokinetic data, improving modeling accuracy and accelerating clinical trials
- In March 2022, Meadowhawk Biolabs, Inc., a contract research organization (CRO) formed to provide bioanalytical, pharmacokinetic and pharmacological services to biotechnology and pharmaceutical companies, is pleased to announce its launch of operations in the Boston and San Francisco areas
Global Pharmacokinetics Services Market Scope
The global pharmacokinetics services market is segmented on the basis of type, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Small Molecules Pharmacokinetics Services
- Large Molecules (Biopharmaceuticals) Pharmacokinetics Services
Application
- Small and Medium Enterprise
- Large Enterprise
Global Pharmacokinetics Services Market Regional Analysis/Insights
The global pharmacokinetics services market is analysed and market size insights and trends are provided by country, type and application as referenced above.
The countries covered in the global pharmacokinetics services market report are U.S., Canada and Mexico in North America, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the global pharmacokinetics services market because of the increasing drug development activities, growing investment in healthcare infrastructure is also boosting the growth of the market.
Asia-Pacific is expected to witness significant growth in the global pharmacokinetics services market during the forecast period of 2023 to 2030 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, availability of massive untapped markets, large population pool, and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed Base and New Technology Penetration
The global pharmacokinetics services market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for global pharmacokinetics services market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the global pharmacokinetics services market. The data is available for historic period 2015-2020.
Competitive Landscape and Global Pharmacokinetics Services Market Share Analysis
The global pharmacokinetics services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global pharmacokinetics services market.
Some of the major players operating in the global pharmacokinetics services market are:
- Evotec SE (Germany)
- Certara, L.P. (U.S.)
- Pacific Biolabs Inc (U.S.)
- GVK Biosciences Private Limited (India)
- Shanghai Medicilon inc. (China)
- PPD Inc. (U.S.)
- Charles River Laboratories. (U.S.)
- Parexel International Corporation (U.S.)
- Eurofins Scientific (Luxembourg)
- Frontage Labs. (Pennsylvania)
- SGS SA (Switzerland)
- LGC Limited (U.K.)
- Creative Bioarray (U.S.)
- Biologics Consulting Group, Inc. (U.S.)
- Cyprotex Limited (U.K.)
- ICON plc (Ireland)
- Nuventra Pharma Sciences (U.S.)
- Absorption Systems (U.S.)
- Pfizer Inc. (U.S.)
- SEKISUI XenoTech, LLC (U.S.)
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