In Vitro Toxicology Testing Market Development And Business Intelligence
Seeking Alpha Analyst Since 2014
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Summary
- In Vitro Toxicology Testing Market Growth Factors & Global Market Size.
- Top Market Players.
- Leading Market Segments & Geographic Overview.
Market growth influenced due to following factors-
- Technological advancements in R&D.
- Increasing R&D expenditure to detect toxicity at an early stage during drug development.
- Rising opposition to animal testing.
Global market size-
According to research report the In Vitro Toxicology Testing Market is expected to reach USD 14.9 billion by 2025 from an estimated USD 9.1 billion in 2020, at a CAGR of 10.3%.
Leading players –
The prominent players in the in vitro toxicology testing market include Thermo Fisher Scientific Inc. (US), Covance (US), Bio-Rad Laboratories, Inc. (US), GE Healthcare (US), Eurofins Scientific SE (Luxembourg), Merck KGaA (Germany), Charles River Laboratories International, Inc. (US), Catalent, Inc. (US), Cyprotex (UK), SGS S.A. (Switzerland), QIAGEN N.V. (Germany), Promega Corporation (US), Gentronix Limited (UK), BioIVT (US), and MB Research Laboratories (US).
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Top Segment –
- The consumables segment is estimated to account for the largest market share in 2019. The large share of this segment can be attributed to the increasing demand for high-quality reagents and the repeated use of media and reagents in in vitro toxicology studies.
- The organ toxicity segment is expected to grow at the highest CAGR during the forecast period. The growth in this segment can be attributed to factors such as the increasing focus on drug safety and consumer-product safety, along with the need to screen potential drug targets during the early stage of drug development.
- The cell culture technologies segment is estimated to account for the largest market share in 2018. The large share of this segment can be attributed to the fact that it is the most preferred technique for toxicity testing, being capable of mimicking in vivo conditions.
Geographic Overview –
The APAC in vitro toxicology testing market is projected to register the highest growth during the forecast period. Factors such as emergence of CROs for outsourcing toxicology-related research projects, opposition to animal testing resulting in the use of alternate methods, increasing pharmaceutical drug pipeline, and growing consumer awareness of product safety are some of the key factors driving the growth of the market in the APAC.
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