At 7.0% CAGR, South & Central America Pharmacokinetics Services Market is Projected to be Worth US$ 68.81 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the South & Central America pharmacokinetics services market was valued at US$ 40.03 million in 2023 and is expected to reach US$ 68.81 million by 2031, registering a CAGR of 7.0% from 2023 to 2031. Increasing adoption of in-vivo and in-vitro models for understanding variability in pharmacokinetics and outsourcing of pharmacokinetics services to CROs are among the critical factors attributed to drive the South & Central America pharmacokinetics services market growth.

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 is 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.

On the contrary, limited reach of pharmacokinetics service providers in emerging countries hamper the growth of South & Central America pharmacokinetics services market.

Based on drug type, the South & Central America pharmacokinetics services market is segmented small molecule, large molecule, and vaccines. The small molecule segment held 50.3% market share in 2023, amassing US$ 20.15 million. It is projected to garner US$ 36.27 million by 2031 to register 7.6% CAGR during 2023-2031.

In terms of service type, the South & Central America pharmacokinetics services market is categorized into pre-clinical ADME and human studies, PK/PD analysis and reporting, dosing simulations, risk analysis, and others. The pre-clinical ADME and human studies segment held 35.6% share of South & Central America pharmacokinetics services market in 2023, amassing US$ 14.27 million. It is anticipated to garner US$ 26.83 million by 2031 to expand at 8.2% CAGR during 2023-2031.

By therapeutic application, the South & Central America pharmacokinetics services market is segmented into oncology, infectious diseases, neurological disorders, autoimmune diseases, gynecological disorders, cardiovascular diseases, respiratory disorders, and others. The oncology segment held 22.5% market share in 2023, amassing US$ 9.02 million. It is projected to garner US$ 17.03 million by 2031 to register 8.3% CAGR during 2023-2031.

By end user, the South & Central America pharmacokinetics services market is segmented into pharmaceutical and biotechnology companies, contract research organization, and others. The contract research organization segment held 43.5% market share in 2023, amassing US$ 17.39 million. It is projected to garner US$ 31.55 million by 2031 to register 7.7% CAGR during 2023-2031.

By country, the South & Central America pharmacokinetics services market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 48.5% share of South & Central America pharmacokinetics services market in 2023. It was assessed at US$ 19.40 million in 2023 and is likely to hit US$ 35.95 million by 2031, registering a CAGR of 8.0% during 2023-2031.

Key players operating in the South & Central America pharmacokinetics services market are Charles River Laboratories International Inc; Eurofins Scientific SE; Certara Inc.; Parexel International Corp; Thermo Fisher Scientific Inc.; Allucent; PACIFIC BIOLABS; and SGS SA, among others

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