Global In Vitro Toxicology Market is expected to grow at a CAGR of 9.2% during the forecast period 2020-2027
A new research report published by Fior Markets with the title In Vitro Toxicology Market by Technology (OMICS Technology, Molecular Imaging, High Throughput Technology, Cell Culture Technology), Application (Dermal Toxicity, Phototoxicity Testing, Organ Toxicity, Ocular Toxicity, Cytotoxicity Testing, Genotoxicity Testing, Skin Irritation, Sensitization, Corrosion, ADME), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global in vitro toxicology market is expected to grow from USD 15.30 billion in 2019 to USD 30.93 billion by 2027, at a CAGR of 9.2% during the forecast period 2020-2027. Asia-Pacific region is expected to show the highest growth rate due to emphasizing on promoting in-vitro toxicology by government organizations. In Asia-Pacific region, conducting clinical trials are cost-effective. Hence, biopharmaceutical companies carry out drug development procedures in the Asia-Pacific region.
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Key players in the global in vitro toxicology market are Covance, GE Healthcare, Merck KGaA, Catalent Inc., SGS SA, Promega Corporation, BioIVT, Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., Eurofins Scientific SE, Charles River Laboratories International Inc., Cyprotex, QIAGEN N.V., Gentronix Limited, MB Research Laboratories. Thermo Fisher Scientific has a strong presence across the global and is emphasizing more on technological and product innovations. It has acquired new consumers through collaborations, expansions and partnerships. The company is focusing more on advancements in technology as well as strategic agreements with academic institutions.
The technology segment includes OMICS technology, molecular imaging, high throughput technology and cell culture technology. OMICS technology is expected to show the highest growth over the forecast period due to its personalized toxicology data. It also provides reduced variability as well as better insights in the procured data. It is beneficial in understanding the toxicity of metal oxide, carbon and metal nanoparticles. OMICS technology is also used to detect adverse effects of low particle concentrations as well as identify new targets in nanotoxicology. The application segment includes dermal toxicity, phototoxicity testing, organ toxicity, ocular toxicity, cytotoxicity testing, genotoxicity testing, skin irritation, sensitization, corrosion and ADME. Systemic toxicology has the largest market share due to multiple organ plate to assess systemic toxicity with simulated blood flow. Dermal toxicity is expected to show significant growth as it is cost-effective, reliable and simple choice.
In-vitro tests gives toxicity information in timesaving and cost-effective manner. Advancements in biomedical sciences is driving the development of various in-vitro test strategies. It is becoming efficient with multiple advanced technologies. The in vitro toxicology market is driven by increased research and development, technological innovations and advancements and opposition to animal testing. Also, rapid advances in the biomedical field, advanced in-vitro test as well as improvements in epigenetics, computational toxicology and bioinformatics are contributing factors in the growth of the market.
About the report:
The global in vitro toxicology market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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