PUBLISHER: The Insight Partners | PRODUCT CODE: 1498540
PUBLISHER: The Insight Partners | PRODUCT CODE: 1498540
The pharmacokinetics services market size is projected to reach US$ 1,579.87 million by 2031 from US$ 874.96 million in 2023. The market is expected to register a CAGR of 7.6% during 2023-2031.
Market Drivers of the Pharmacokinetics Services Market
Rising Prevalence of Chronic and Infectious Diseases
The growing prevalence of chronic diseases such as diabetes, cancer, and autoimmune diseases has been a prime enabler of drug development efforts across the world. According to the World Health Organization's (WHO) 2024 data, ~422 million in the world suffer from diabetes, and these cases are mostly found in middle and low-income countries, causing approximately 1.5 million deaths every year. Pharmaceutical companies are at the forefront of developing drugs to treat various diseases. Pharmacokinetic studies are essential for understanding how these drugs behave in a patient's body by analyzing the process of absorption, distribution, metabolization, and elimination (ADME) within the human body. The absorption of a drug into systemic circulation affects the speed and concentration at which a drug may reach the site of action, e.g., plasma. Drug distribution pattern throughout the body varies based on its biochemical properties and body physiology. Metabolism involves the processing of the drug by the body into subsequent compounds. This step is instrumental in converting the drug into water-soluble substances to render them suitable for renal clearance. Metabolism is also important for the conversion of prodrugs, such as codeine, into active metabolites. Excretion of drugs from the body is mainly governed by kidneys; however, in several cases, drugs may be excreted via the lungs, skin, or gastrointestinal tract. ADME dynamics define the bioavailability of drugs in the body, and the maintenance doses of drugs are calculated based on their clearance times (desired plasma concentration divided by bioavailability). Understanding of clearance allows practitioners to calculate appropriate dosing rates.
Pharmacokinetic studies focus on optimizing drug dose regimens in study subjects to understand the efficacy and safety of a drug. These studies are essential for ensuring the safety of drugs that are developed for long-term treatments, which helps evaluate the suitability and stability of drug formulations in chronic disease management. Hence, the rising burden of chronic and infectious diseases underlines the importance of pharmacokinetic studies to develop safe and effective personalized treatments.
Opportunities in the Pharmacokinetics Services Market
The collection and handling of huge pharmacokinetic data generated during drug manufacturing are expensive, tedious, and time-consuming tasks. The labor- and cost-intensive nature of these tasks highlights the need for models such as pharmacokinetic simulation models and in vitro-in vivo pharmacokinetic correlation models (IVIVC) for the prediction of pharmacokinetic parameters. The pharmacokinetic simulation model is a tool that interprets drug kinetics in the living environment under specific conditions using computational and mathematical models. In addition, the IVIVC model are a fundamental part of the drug discovery process. Analyzing PK/PD predictions at the early stages of drug development is necessary for lead optimization strategies and also to further reduce attrition rates. There have been significant advancements in the development of new in-vitro and in-vivo strategies to improve and characterize pharmacokinetic properties. IVIVC models are being proposed as a cost-effective alternative to assess the biopharmaceutical properties that analyze the bioavailability of drugs and their application. Hence, such in-vivo and in-vitro models are anticipated to provide lucrative opportunities for the pharmacokinetics services market in the near future.
Pharmacokinetics Services Market: Segmental Overview
By drug type, the market is segmented into small molecules, large molecules, and vaccines. The small molecule segment held the largest market share in 2023.
The pharmacokinetics services market, by therapeutic application, is categorized into oncology, infectious diseases, neurological disorders, autoimmune diseases, gynecological disorders, cardiovascular diseases, respiratory disorders, and others. The oncology segment held the largest market share in 2023.
Pharmacokinetics Services Market: Geographical Overview
North America held the largest share of the market. According to a report by the Government of Canada, Health Canada receives hundreds of new clinical trial applications to test new drugs (including vaccines) or to introduce new uses of approved medicines. Pediatric patients (children and youth) in the country participate in clinical trials with their parents' permission. Health Canada protects individuals participating in clinical trials, including children and youth. According to the Canadian Clinical Trials Asset Map (CCTAM) report, ~3,500 clinical trials were registered in Canada in 2022, with cancer therapeutics being a significant area of focus, accounting for 1,300 cancer clinical trials in 2021. The pharmaceutical industry invested ~US$ 1.2 billion in clinical research in Canada, per the Innovative Medicines Canada report. Further, the Canadian Clinical Trials Network (CCTN) had over 6 million patient records maintained as of 2021. Thus, the demand for pharmacokinetic services increases with the surge in drug development and discovery projects in Canada. Thus, the rising number of clinical trials and research studies, and the increasing prevalence of infectious diseases and chronic disorders are among the factors propelling the pharmacokinetics services market growth in Canada.
The market for infectious diseases segment is estimated to be worth US$ 19.24 million by 2031 and is expected to register a CAGR of 10.8% during the 2023-2031.