The In Vitro Toxicology Testing Market is Expected to Witness a CAGR of 8.2% to Reach Revenue of $12.6 Billion by 2024
Bangalore, India, September 15, 2018: With its recently published study “In Vitro Toxicology Testing Market – Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2024”, Infoholic Research forecasts that the global market for in vitro toxicology testing will continue to grow, owing to the increasing R&D expenditure for early stage toxicity testing, increased cost related to in vivo toxicity testing, and high opposition to animal testing.
The in vitro toxicology testing market, by toxicology endpoints, is segmented into systemic toxicity, cytotoxicity testing, genotoxicity testing, ocular toxicity, organ toxicity, dermal toxicity, neurotoxicity, and others. Among these, systemic toxicity accounted for the highest market share in 2017 due to the availability of a wide range of sub-studies, which ensure total analysis of toxicity and safety margin of the testing compounds.
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Europe is the major shareholder in the global in vitro toxicology testing market, followed by North America. The upsurge in the investments by the European Commission in R&D to develop substitute methods to in vivo testing makes Europe a major shareholder of the market. Asia Pacific is expected to grow at a high CAGR during the forecast period due to increasing number of contract research organizations offering testing services, advancements in healthcare infrastructure, increasing investment in the biopharmaceutical sector, and upward economic conditions in this region.
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The in vitro toxicology testing market, by industry type, is segmented into pharmaceutical and biopharmaceutical, cosmetics, chemical, diagnostics, and food industry. The pharmaceutical and biopharmaceutical industry occupied significant market share in 2017 and cosmetics industry is expected to hold a greater percentage during the forecast period. Increased support of regulatory authorities to use in vitro and in silico methods instead of animal testing to check toxicology is driving the growth of the cosmetic industry.
“The in vitro toxicology testing market is growing steadily with the highest attraction in developing countries such as China. The key market vendors are continuously focusing on collaborations and partnerships to enhance service capabilities and attain a major share of the market. For instance, in September 2018, leading non-clinical research CRO, CiToxLAB, announced an investment and partnership deal with Experimental Pharmacology and Oncology Berlin-Buch GmbH (EPO) for preclinical oncology research globally. With the advent of new in-vitro models and an upsurge in the toxicology database, the market is expected to eventually result in the highest growth.” – Arpitha Shetty, Research Analyst, Infoholic Research
Key insights of the report include:
- Toxicity Endpoints:
- Systemic Toxicity
- Cytotoxicity Testing
- Genotoxicity Testing
- Organ Toxicity
- Ocular Toxicity
- Dermal Toxicity
- Industry Type:
- Pharmaceutical and Biopharmaceutical
- North America
- Asia Pacific
- Rest of the World
- Industry outlook: Market trends, drivers, restraints, and opportunities