In Vitro Toxicology Testing Market Insights - Opportunities and Challenges
According to research report In Vitro Toxicology Testing Market is expected to reach $14.9 billion by 2025, at a CAGR of 10.3%.
(EMAILWIRE.COM, November 24, 2021 ) According to the new market research report 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.
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.
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.
Opportunity: Increasing focus on drug discovery and personalized medicine using in vitro methods
Over the years, there has been a definite decline in the pharmaceutical industry’s productivity due to increasing development costs and the decreasing profitability of new medical entities (NMEs) launched (Source: Tufts Center for the Study of Drug Development). One of the greatest challenges faced by the pharmaceutical industry today is the failure of promising new drug candidates due to adverse effects discovered during preclinical animal safety studies and clinical trials. The development of techniques to show or predict efficacy and toxicity in humans, before drugs move to clinical trials, could greatly help lower the failure rate of new medications.
Challenge; Derth of skilled professionals
IVT comprises sophisticated methods to study biological entities within a laboratory setup. It involves labor-intensive techniques to perform experiments and requires skilled professionals such as researchers and technicians to set up and run tests and experiments, make observations, obtain results, and analyze data. A lack of knowledge regarding the underlying scientific principles and the right choice of technique may result in several direct and indirect expenses and, thereby, increase the workload and time pressure on researchers and service providers. Thus, there is a need for highly skilled personnel for method development, validation, operation, and troubleshooting activities.
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.
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The prominent players in the In Vitro Toxicity 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).
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=209577065
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.
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.
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.
Opportunity: Increasing focus on drug discovery and personalized medicine using in vitro methods
Over the years, there has been a definite decline in the pharmaceutical industry’s productivity due to increasing development costs and the decreasing profitability of new medical entities (NMEs) launched (Source: Tufts Center for the Study of Drug Development). One of the greatest challenges faced by the pharmaceutical industry today is the failure of promising new drug candidates due to adverse effects discovered during preclinical animal safety studies and clinical trials. The development of techniques to show or predict efficacy and toxicity in humans, before drugs move to clinical trials, could greatly help lower the failure rate of new medications.
Challenge; Derth of skilled professionals
IVT comprises sophisticated methods to study biological entities within a laboratory setup. It involves labor-intensive techniques to perform experiments and requires skilled professionals such as researchers and technicians to set up and run tests and experiments, make observations, obtain results, and analyze data. A lack of knowledge regarding the underlying scientific principles and the right choice of technique may result in several direct and indirect expenses and, thereby, increase the workload and time pressure on researchers and service providers. Thus, there is a need for highly skilled personnel for method development, validation, operation, and troubleshooting activities.
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.
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The prominent players in the In Vitro Toxicity 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).
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Contact Information:
MarketsandMarkets™
Mr. Aashish Mehra
Tel: 1-888-600-6441
Email us
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MarketsandMarkets™
Mr. Aashish Mehra
Tel: 1-888-600-6441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results™.