In-vitro Diagnostics market size, share, growth, trends, opportunity and forecast to 2025
Noida, Uttar Pradesh, India, March 26 2021 (Wiredrelease) Report Ocean Pvt Ltd –:Research institutes are actively taking initiatives to increase research and development regarding toxicology. The government and non-profit organizations are providing funds for these research and development programs. Due to increasing research and development funding in toxicology, the in-vitro toxicity marker is expected to grow during the forecast period. In 2018, an MIT (Massachusetts Institute of Technology) grant was received by Omnigen and TOXYS to develop Toxplot software for animal-free chemical safety testing.
The PETA awarded $200,000 to researchers to develop a non-animal system to assess the toxicity of nanomaterials. The organization is also funding MatTek Corporation to design a human lung-tissue model that will be used to create this system. In 2017, PETA also provided the IQF (International QSAR Foundation) with more than $250,000 to help fund the development of the OECD QSAR (Quantitative structure-activity relationships) Toolbox. THE OECD QSAR Toolbox is a collection of computer models and databases that can be used to estimate the toxicity of a wide range of chemicals without animals. The organization has funded in-person training sessions to familiarize regulators with the toolbox, allowing scientists and regulatory officials of more than 30 OECD-member countries to access information regarding chemical toxicity and avoid animal testing while complying with chemical regulations. These tools collectively offer information that will prevent tens of thousands of animals from for chemical testing. Other similar IQF projects funded in part by PETA include developing non-animal models to test for allergic reactions, acute toxicity, and endocrine activity. Increasing environmental concern has significantly improved the demand for in-vitro toxicity screening as several types of research are going on to reduce animals’ use in estimating toxicity. Following these promising developments, the Global In-Vitro Diagnostics Market is estimated to see healthy growth, pegged at a CAGR of around 2.8% throughout the forecast period 2020-2025.
The NTP, a trans-Department of Health and Human Services (DHHS) program headquartered at the NIH National Institute of Environmental Health Sciences (NIEHS), has contributed to research and development in toxicology is expected to drive the growth of the global in-vitro toxicity market. Further, the NCGC by the National Human Genome Research Institute (NHGRI) also offers expertise in-vitro assays, titration-based screening, and informatics. The EPA National Center for Computational Toxicology (NCCT) is a part of the EPA’s Office of Research and Development. These three partners’ combined expertise has allowed for rapid implementation of the National Research Council (NRC) vision. These collaborators are applying innovative methodologies to determine many chemicals in a range of in-vitro assays in a short period of time.
Segmentation Overview of the Global In-Vitro Diagnostics Market
The in-vitro diagnostics market is segmented based on the products & services, technology, application, and end user. These major market segments are further categorized into various sub-segments to study the market in detail.
By Products & Services Outlook (Reagents & Kits, Instruments, Services)
By Technology Outlook (Immunoassay/Immunochemistry, Clinical Chemistry, Molecular Diagnostics, Microbiology, Others)
By Application Outlook (Infectious Diseases, Oncology, Cardiology, Autoimmune Diseases, Others)
By End User Outlook (Hospitals & Clinics, Academic Institutes, Point-on-Care Testing, Others)
Key Players Insights
Roche Diagnostics Limited, Siemens Healthineers, Danaher Corporation, Abbott Laboratories, Thermo Fisher Scientific, Johnson & Johnson, Becton, Dickinson and Company, Bio-Rad Laboratories, Sysmex Corporation, bioMérieux, Diasorin, Ortho-Clinical Diagnostics, and Qiagen, among others, are some significant players included in the research study of the global in-vitro diagnostics market.
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