WILMINGTON, DE / ACCESSWIRE / April 13, 2023 / Transparency Market Research Inc. - The global business of in vitro toxicology testing market was worth USD 24.1 Bn in 2022 and is estimated to reach USD 91.3 Bn by 2032 with 13.0% CAGR. The global industry is estimated to witness significant growth across the forecast period of 2022-2032.
In vitro toxicology testing plays a significant role in identifying the relative toxicity and providing detailed analysis of the effect of a particular disease on human health through animal tests. Inferences based on observation of animals and the effects of toxicity on various organs can assist medical professionals in identifying potential health threats and prescribing safe medicines accordingly.
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|Market Revenue||USD 27 Bn in 2022|
|Estimated Value||USD 91.3 Bn by 2032|
|U.S. Market CAGR||11.7%|
|No. of Pages||250 Pages|
|Market Segmentation||By Method, Technology, Application and End-use|
|Regions Covered||North America, Europe, Asia Pacific, Middle East & Africa, South America|
|Companies Covered||Merck KGaA, Charles River, Bio-Rad Laboratories, Inc., Abbott, Thermo Fisher Scientific Inc., Catalent, Inc., GE Healthcare, Quest Diagnostics Incorporated, Eurofins Scientific, Laboratory Corporation of America Holdings, Evotec, Creative Bioarray, Gentronix, BioIVT, SGS SA, and Agilent Technologies|
In vitro toxicology testing plays a crucial role in drug development, as it involves the development of medicine and vaccines using clinical inferences based on animal testing and research. Biotechnological and pharmaceutical industries are focusing on the development of effective drugs with the integration of advanced technology. This is projected to create lucrative growth prospects for the global market.
In Vitro Toxicology Market: Growth Drivers
- Rise in need to evaluate the safety and efficacy of medicinal products and their influence on cells has opened new growth avenues for the in vitro toxicology testing market. Biotechnological and pharmaceutical industries are focusing on developing novel and efficient technologies to improve in vitro procedures. This is likely to drive global industry growth.
- Government initiatives to develop laboratory testing, analysis, and ex-vivo examination to observe research outcomes effectively have created multiple growth avenues for business growth
- Emerging trends in the healthcare sector to provide effective treatment procedures through relentless research and development activities have created attractive growth prospects for the global market. Furthermore, rise in investments in development of drugs, vaccines, and therapeutics with precision is anticipated to augment the global industry.
Key Findings of In Vitro Toxicology Testing Market
- Bio-chemicals assay method segment is anticipated to grow at a CAGR of 15.2% owing to the increase in R&D activities and the development of cannabis-based pharmaceuticals. The ex-vivo method segment is also anticipated to grow significantly due to the rise in ex-vivo screening tests for medication development. Furthermore, this method is effective as it is carried out in a regulated environment by preserving the natural architecture of tissues.
- The pharmaceutical end-use segment is also expected to grow significantly due to the increase in research and development activities in the sector to develop high-precision drugs. Academic institutes and research laboratories end-use segment is also anticipated to expand significantly as a result of exhaustive research being conducted in the healthcare sector to produce efficient lines of treatment. This involves toxicity testing, drug development, and other R&D. Rise in demand for toxicology testing is influencing segment growth.
In Vitro Toxicology Testing Market: Regional Dynamics
North America is estimated to witness lucrative growth due to the presence of a well-developed healthcare infrastructure coupled with technological advancements and government funding for research and development activities. Additionally, increase in prevalence of lung cancer in countries such as the U.S. has created a pressing need for the evaluation of toxicity involved in targeted therapies, chemotherapy drugs, and other treatment procedures. The U.S. market is likely to grow at a CAGR of 11.7% from 2022-2032.
In Vitro Toxicology Market: Competitive Landscape
In vitro toxicology market players are involved in intense competition in order to increase their revenue share. Regional and global players operate in the market. Research and development activities are crucial for the overall in vitro toxicology business growth. Players invest in these activities in order to gain an upper hand in terms of consumer base and revenues.
Innovations in clinical operations and clinical analytics services have added value to the laboratory feature. These aspects may eventually contribute to business growth. Major players indulge in strategic alliances such as &mergers, acquisitions, joint ventures, and partnerships. These activities strengthen the influence of players, which further leads to an increase in market size.
Key players operating in the global market are:
- Bio-Rad Laboratories Inc
- Thermo Fischer Scientific Inc
- Quest Diagnostics Incorporated
- Laboratory Corporation of America Holdings
- Agilent Technologies
- SGS SA
- GE Healthcare
- Charles River
- Catalent Inc
- Creative Bioarray
- Merck KGaA
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In Vitro Toxicology Testing Market: Segmentation
- Cellular Assay
- Live Cells
- Fixed Cells
- Biochemical Assay
- Pharmaceutical Industry
- Cosmetic & Household Products Industry
- Academic Institutes & Research Laboratories
- Diagnostics industry
- Chemical Industry
- Food Industry
- Cell Culture Technology
- High Throughput Technology
- Molecular Imaging
- OMICS Technology
- Systemic Toxicology
- Dermal Toxicity
- Endocrine Disruption
- Ocular Toxicity
- Other Applications
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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