Meticulous Research® – a leading global market research company published a research report titled “In-Vitro Toxicology/Toxicity Testing Market by Product& Service, Technology (Cell Culture, OMICS), Method (Cell-based Assays, In-Silico), End-point (ADME, Genotoxicity, Organ Toxicity, Dermal Toxicity), End-user, and Geography – Global Forecast to 2025”.
According to this latest publication from Meticulous Research®, the global in-vitro toxicology testing market is expected to grow at a CAGR of 9% from 2019 to reach $14.4 billion by 2025. The growth of this market is driven by factors, such as ethical issues and pressure from animal activists’ groups concerning the use of animals for testing, ban on animal testing on cosmetic products, support from regulatory bodies regarding the approval of in-vitro tests, low costs associated with in-vitro toxicology testing, and advancements in in-vitro methodologies. Moreover, synergetic relationships between various stakeholders in the industry and increasing toxicology databases to facilitate the use of in-vitro test methods are expected to offer significant growth opportunities for the players operating in this market.
The global in-vitro toxicology testing market study presents historical market data in terms of value (2018), estimated current data (2019), and forecasts for 2025-by product & service (equipment, assay kits, consumables, software, services), technology (cell culture technologies, high-throughput screening technologies, OMICS technologies), method (cell-based assays, biochemical assays, in-silico, ex-vivo), end-point (ADME; skin irritation, corrosion, sensitization; genotoxicity; cytotoxicity; ocular toxicity; organ toxicity; phototoxicity; and dermal toxicity), end-user (pharmaceutical & biotechnology industries, cosmetics industry, food industry, and chemical industry). The study also evaluates industry competitors and analyzes the market at a regional and country level.
Browse in-depth Report on:https://www.meticulousresearch.com/product/in-vitro-toxicology-toxicity-testing-market-5047
On the basis of product, the consumables segment is estimated to dominate the overall in-vitro toxicology testing market in 2019, mainly due to increasing number of in-vitro tests being performed across the globe leading to recurrent purchase of reagents and other labware. However, the software segment is projected to grow at the highest CAGR during the forecast period. The high growth of this segment can be attributed to increasing computer models and algorithms being developed to predict toxicity of test substances.
On the basis of technology, the cell culture technologies segment is estimated to account for the largest share of the in-vitro toxicology testing market in 2019, owing to growing adoption of 3D cell culture and stem cell models for toxicity testing.
On the basis of method, the in-vitro toxicology testing market is sub-segmented into cell-based assays, biochemical assays, in silico testing, and ex vivo testing. Cell-based assays segment is estimated to command the largest share of the in-vitro toxicology testing market in 2019. Advancements in cell-based technologies such as high-content screening and label-free detection are the key factors attributed to the large share of this segment in the overall market.
On the basis of end point, the ADME segment is estimated to account for the largest share of the overall in-vitro toxicology testing market in 2019. This is primarily attributed to the increasing number of early stage in-vitro ADME screening tests to prevent failure at later stage.
On the basis of end user, the in vitro toxicology testing market is segmented into pharmaceutical and biotechnology companies, cosmetics, food industry, and chemical industry. The pharmaceutical and biotechnology companies segment is estimated to account for the largest share of the overall in-vitro toxicology testing market in 2019. This is primarily attributed to increasing drug attrition rates and growing adoption of early in-vitro preclinical safety testing to filter out molecules with a higher potential for toxicity. However, the cosmetics industry segment is expected to grow at a higher rate owing to the ban on use of animals for testing toxicity of cosmetics and its ingredients.
This research report analyzes major geographies and provides comprehensive analysis of Europe (Germany, U.K., France, Italy, Spain, and RoE), North America (U.S., Canada), Asia-Pacific (China, Japan, India,and RoAPAC), Latin America, and Middle East & Africa. Europe commanded the largest share of the global in-vitro toxicology testing market, followed by North America and Asia Pacific (APAC). The large share of this region is mainly attributed to the factors such as ban on animal testing for cosmetics and its ingredients, and government initiatives to promote the reduction of use of animals for toxicity testing. Asia-Pacific region is expected to grow at the highest CAGR during the forecast period of 2019 to 2025, owing to increasing biotech investments in this region and growing collaborations between local and foreign companies.
In-vitro toxicology testing market is a highly consolidated in nature, wherein 3 major players — Thermo Fisher Scientific (US), Merck (Germany), and GE Healthcare (US) — accounted for major share of the global in-vitro toxicity testing market. Other key players operating in this market are Bio-Rad Laboratories (US), SGS SA (Switzerland), Laboratory Corporation of America Holdings (U.S.), Qiagen N.V. (Netherlands), and Eurofins Scientific (Luxembourg), among others.
Key questions answered in the report-
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Dental Practice Management Software Market Worth $ 3.11 Billion by 2029Read More