Research and Markets has announced the addition of the "Global In-Vitro Toxicology Testing Market" report to their offering.
The global market for in-vitro toxicology testing was estimated at USD 10.8 billion in 2014. The market is projected to reach USD 19 billion by the end of 2020 at a CAGR of 9.8% during the forecast period 2014-2020.
Predictive in-vitro toxicology is the new cutting edge technology in biopharmaceutical research. It is considered one of the most significant steps in drug discovery. Predictive in-vitro toxicology is expected to improve the quality and quantity of drugs entering clinical studies. In addition, it improves the safety and efficiency of new compounds and allows compounds to be arranged early in the development process. Earlier and more lucrative identification of potential mechanisms that cause adverse drug reactions have significant potential for improving consequences in drug discovery.
Several industries require toxicity testing of their products. On the basis of end-users, the market is segmented into pharmaceutical industry, cosmetics and household products, chemicals industry and the food & beverages industry. Pharmaceutical industry has the largest market share. This is attributed to the adoption of in-vitro methods in the detection of toxic effects to curb drug development costs and initiatives such as AXLR8 program by the European Union.
Cosmetics is expected to be the fastest-growing industry in coming years with government support and amendment of European Union's Cosmetics Directive, which has set forth a ban on the use of animals in testing for any toxic effects of beauty products.
Key Topics Covered:
2. Key Deliverables
3. Executive Summary
4. Market Dynamics
5. Market Segmentation
6. Competitive Landscape
7. Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/kgzg4g/global_invitro
View source version on businesswire.com: http://www.businesswire.com/news/home/20160823006109/en/Business Wire
Last updated on: 23/08/2016
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