PUBLISHER: Grand View Research | PRODUCT CODE: 1363133
PUBLISHER: Grand View Research | PRODUCT CODE: 1363133
The global pharmacokinetics services market size is expected to reach USD 1,762.4 million by 2030, registering a CAGR of 7.5% from 2023 to 2030, according to a new report by Grand View Research, Inc.. Rising adoption of pharmacokinetic and toxicology studies for determination of several parameters such as no-observed-effect levels (NOEL), human equivalent doses (HED) levels, and pharmacokinetic/pharmacodynamic (PK/PD) drivers are expected to fuel market growth.
Thorough understanding of the pharmacokinetic profile of a potential drug candidate plays a major role in the success of a drug discovery program. In addition to this, regulatory bodies have played a major role in the progress of this market through establishing defined guidelines for conducting PK studies. There are a substantial number of CROs engaged in conducting PK studies in accordance with relevant EMEA, ICH, FDA, GCP, and other regulatory guidelines.
Growing concern for effective implementation of PK services in the drug development process is anticipated to drive investments in this sector. Several conferences and certification courses are being conducted across the world to increase the understanding of various paradigms associated with pharmacokinetics application in clinical and preclinical drug development.