In Vivo Toxicology Market - Emerging Industry Trends And Global Future Forecast
Seeking Alpha Analyst Since 2014
#Healthcare Consultant focusing on #TeleHealth #TeleMedicine #PatientPortals #CVIS #HCIT #MedicalRobots #Vaccines #MedicalDevices #WirelessHealth #Biotechnology
- North America accounted for the largest share of the in vivo toxicology market in 2019.
According to the new market research report “In Vivo Toxicology Market by Product (Animal Models, Reagents & Kits), Test Type (Chronic, Sub-acute), Toxicity Endpoints (Systemic, Immunotoxicity), Testing Facility (Outsourced, In-house), End User (Academic & Research Institute, CROs) – Forecast to 2025″, published by MarketsandMarkets™, the global Toxicity Testing Market size is projected to reach USD 6.6 billion by 2025, at a CAGR of 5.5% between 2020 and 2025.
Growth Driver: Increasing pharmaceutical R&D activities;Changing dynamics in the healthcare markets across the globe have compelled pharmaceutical and biotechnology companies to develop products that offer real value rather than just incremental benefits. Owing to this, an increasing number of pharma companies and medical device manufacturers focus on innovation and increasing their R&D efficiencies.
R&D activities, however, are associated with a high risk of failure. One estimate is that for every 10,000 compounds synthesized in the discovery phase, only 250 reach the preclinical phase, ultimately resulting in one approved drug by the FDA (Source: National Center for Biotechnology Information). Thus, it is very important to bring down the attrition of failing molecules in the early stages of drug development. The primary goal of R&D is to increase the overall likelihood of approval of Phase I candidates by increasing the acceptance of the compounds in the preclinical stages. To achieve this, intensive R&D is conducted in the early stages of drug development. Increased R&D investments in the initial stages of drug development are likely to increase the use of in vivo toxicology methods before the drug reaches the more expensive clinical stage.
According to the Biotechnology Industry Organization (BIO) 2019, nearly 82.7% of the venture capital investment in the US by emerging growth companies (EGCs) over the last decade was in R&D for emerging therapeutics and novel drugs. Likewise, ~50% of the venture capital investment for therapeutics was for developing biologic molecules/metabolites. Companies are also investing in research to develop breakthrough molecules/metabolites to cater to growing demands in the healthcare industry.
Download PDF Brochure: In Vivo Toxicology Market
North America accounted for the largest share of the toxicity testing market in 2019.
Based on the region, the global in vivo toxicology market is segmented into North America, Europe, the Asia Pacific, Latin America and Middle East & Africa. In 2019, North America accounted for the largest share of the market. The large share of the North America region can be attributed to the presence of major players operating in the market in the US, growing biomedical research in the US, and rising preclinical activities by CROs and pharmaceutical companies in the region.
The major players operating in Toxicity Testing Market are by Charles River Laboratories (US), The Jackson Laboratory (US), Envigo (US), Taconic Biosciences, Inc. (US), and JANVIER LABS (France), Thermo Fisher Scientific (US), Danaher Corporation (US), Waters Corporation (US), Agilent Technologies (US), Shimadzu Corporation (Japan), Bruker Corporation (US), PerkinElmer (US). Other prominent players include Merck KGaA (Germany), GE Healthcare (US), and Bio-Rad Laboratories (US), genOway (France), Cyagen Biosciences (US), GVK BIO (India), PolyGene (Switzerland), Crown Biosciences (US), TransCure bioServices (France), Ozgene Pty Ltd. (Australia), Harbour BioMed (US) among others.
Speak to Analyst: In Vivo Toxicology Market
Chronic test type accounted for the largest share in the toxicity testing market in 2019
Based on test type, the In Vivo Toxicology Market segmented into acute, sub-acute, sub-chronic, and chronic test type. The chronic test type segment is expected to dominate the market during the forecast period. In 2019, the chronic test type segment held the largest share of the market, followed by sub-chronic test type. Increasing research on drugs used for longer-duration therapy such as anti-cancer, anti-convulsive, anti-arthritis, and anti-hypertensives drives the growth of the chronic test type market.
Outsourced testing facilities accounted for the largest share in the in vivo toxicology market in 2019
Based on the testing facility, the global toxicity testing market is segmented into outsourced testing facilities and in-house testing facilities. The outsourced testing facilities segment is expected to dominate the market, by testing facility, over the forecast period. In 2019, the outsourced testing facilities segment held the largest share of the global market. The large share of this segment is attributed to the increasing R&D investments and cost-saving strategies of pharmaceutical, biopharmaceutical, and medical devices companies, resulting in increased outsourcing of services to CROs.
Request Sample Pages: In Vivo Toxicology Market
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.