Portland, OR -- (SBWIRE) -- 09/18/2017 -- ADME refers to the absorption, distribution, metabolism, and elimination of the drugs or chemicals in the body. ADME testing plays a vital role in the drug development process. The testing enables pharmaceutical companies to reduce their drug discovery time, cost, and test complications.
The rise in research & development of drugs and increasing demand for various treatments of diseases primarily drive the market growth. Increasing technological advancements and detection of toxicology in the early stages of R&D have favoured pharmaceutical companies by lowering their drug discovery time, cost, and test complication.
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Furthermore, increasing healthcare awareness and increasing investments in the healthcare sector by the government and private sector are anticipated to fuel the market growth. However, high costs of tests and stringent government rules & regulations associated with the ADME toxicology testing are the major barriers for the growth of the market. Ongoing R&D in the field of ADME toxicology testing is anticipated to create new opportunities during the forecast period.
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The market is segmented on the basis of product type, test, end-user, and region. Based on product type, the market is categorised into instruments, software solutions, assays systems, reagents, and others. Based on test, the ADME toxicology testing market is classified into in-vivo and in-vitro. By end-user, the market is segmented into cosmetics & household products, pharmaceutical industry, animal industry, food industry, and others. By region, it has been analysed across into North America, Europe, Asia-Pacific, and LAMEA.
ADME Toxicology Testing Market Key Segment:
By Product Type
-Cosmetics & Household Products