MARKET IMPACT SURVEY - COVID-19 & LOOMING RECESSION
Timely market intelligence is paramount in these uncertain times!
We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!
Global ADME-Toxicology Testing Market to Reach $10.2 Billion by 2027
Amid the COVID-19 crisis, the global market for ADME-Toxicology Testing estimated at US$5.2 Billion in the year 2020, is projected to reach a revised size of US$10.2 Billion by 2027, growing at a CAGR of 10.1% over the analysis period 2020-2027. Cell Culture, one of the segments analyzed in the report, is projected to record a 11.7% CAGR and reach US$4.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the High Throughput segment is readjusted to a revised 8.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 13.3% CAGR
The ADME-Toxicology Testing market in the U.S. is estimated at US$1.4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.2 Billion by the year 2027 trailing a CAGR of 13.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.9% and 8.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.8% CAGR.
Molecular Imaging Segment to Record 9.8% CAGR
In the global Molecular Imaging segment, USA, Canada, Japan, China and Europe will drive the 9.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$860.6 Million in the year 2020 will reach a projected size of US$1.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.5 Billion by the year 2027, while Latin America will expand at a 11.2% CAGR through the analysis period. We bring years of research experience to this 16th edition of our report. The 405-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others, - ACEA Biosciences Inc.
- ADMEcell Inc.
- Agilent Technologies, Inc.
- Albany Molecular Research Inc.
- Beckman Coulter Inc.
- CompuDrug International Inc.
- Cyprotex PLC.
- Dassault Systèmes Biovia Corp.
- Eurofins ADME BIOANALYSES SAS
- Galapagos NV
- Molecular Discovery Ltd.
- MultiCASE Inc.
- Optivia Biotechnology
- PerkinElmer Inc.
- Promega Corporation
- Simulations Plus Inc.
- Takara Bio Europe AB
- Tecan Group Ltd.
- Thermo Fischer Scientific Inc.