DUBLIN, Sept. 9, 2022 /PRNewswire/ — The “Pharma ADMET Testing Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Testing Type, Technology, and Application” report has been added to ResearchAndMarkets.com’s offering.
The pharma ADMET testing market is expected to grow from US$ 6,783.06 million in 2021 to US$ 13,578.62 million by 2028; it is estimated to grow at a CAGR of 10.5% from 2022 to 2028.
The report highlights trends prevailing in the market and factors driving the market growth. The market growth is attributed to the high rate of late-stage drug failure and the increasing number of products approvals and launches. Additionally, the rise of new and emerging technologies is likely to emerge as a significant trend in the market during the forecast period. However, the high cost of ADME testing studies limits the market growth.
ADMET (absorption, distribution, metabolism, excretion, and toxicology) testing plays a critical role in drug discovery and development to understand the pharmacokinetic and pharmacodynamic properties of a drug. The testing prevents the chances of drug failure during the drug discovery phase. Thus, ADMET testing facilitates pharmaceutical companies to minimize drug discovery time, testing complications, and drug development cost.
The pre-approval expenditures for a medicine can be as high as US$ 2.56 billionwhich further increases to US$ 2.87 billion in the post-approved stage. According to the study titled “Why 90% of Clinical Drug Development Fails and How to Improve It?”, 2022, 90% of clinical drug development fails despite the successful implementation of many strategies.
After entering clinical investigations, 9 out of 10 drug candidates fail during phase I, II, and III clinical trials, and the drug approval process. Drug candidates rejected in preclinical stages are not included in the 90% failure rate of the drugs in clinical stages , as they don’t enter the phase I clinical trials.
If preclinical drug candidates are included, the failure rate of drug discovery and development rises even higher than 90%. According to analyses of clinical trial data from 2010 to …