In Vitro Toxicology Testing Market worth $14.9 billion by 20
CHICAGO, Aug. 28, 2020 /PRNewswire/ -- According to the new market research report "In Vitro Toxicity Testing Market by Product (Assay (Western Blot, Tissue Culture),Equipment, Assay Reagent, Software), Toxicity Endpoints (ADME, Skin Irritation, Corrosion),Industry (Pharmaceutical, Cosmetics)-COVID-19 Impact - Global Forecast to 2025", published by MarketsandMarkets™, 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%.
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The major factors driving the growth of this market are the opposition to animal testing, technological advancements, and increasing R&D expenditure to detect toxicity at an early stage during drug development are the primary growth drivers for this market.
Due to covid-19 outbreak, there has been a significant increase in Covid-19 testing and drug research. The research in this area is being further undertaken to understand the dynamics of the infection better, which is expected to propel the in vitro toxicology research field further. On the other hand, we are estimating that the major share of diagnostic assays and molecular testing of Covid-19, along with personalized medicine will grow at a stable pace in the next five years. There is a huge increase of manufacturers that have taken key steps to increase patient access to coronavirus diagnostic testing, vaccine and drug development in laboratories, hospitals, and other testing sites across the country to guide patient care and protect public health.
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By product and service, the consumables segment is expected to account for the largest share of the in vitro toxicology testing market
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.
In the toxicity endpoints and tests market, the organ toxicity segment is expected to grow at the highest CAGR during the forecast period
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.
Based on the technologies used in the in vitro toxicology testing, the cell culture technologies segment is expected to account for the largest share of the in vitro toxicology testing market
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.
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Asia Pacific is estimated to be the fastest-growing market for in vitro toxicology testing during the forecast period
The APAC 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.
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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