PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1224491
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1224491
Toxicity Testing Outsourcing Market size was valued at USD 3,701.5 Million in 2022, expanding at a CAGR of 10.1% from 2023 to 2030.
Toxicity testing is sometimes referred to as toxicological testing or safety evaluation. It is a technique of finding a drug of interest that adversely affects an organism's normal biological functioning and offers a specific exposure time, substance concentration, and route of exposure.
Toxicity Testing Outsourcing Market- Market Dynamics
Prior to entering clinical trials, strategies to establish or predict safety and efficacy in humans might considerably reduce the failure rate of innovative treatments. In vitro drug development and tailored therapies have received increased attention. Furthermore, there is an increasing desire for humanistic animal models, which will most likely offer up several chances for competitors in gene toxicity research in the near future. Predicting the toxicity of proposed medications may aid in reducing undesirable consequences. Moreover, Government regulations in several countries require genotoxicity testing on animals for the sale and importation of certain consumer items, genetically modified foods, medical equipment, vaccines, medicines, industrial chemicals, and pesticides. Every year, millions of animals, including monkeys, birds, hamsters, guinea pigs, frogs, cats, and mice, are utilized in drug development. As a result, various independent animal ethical committees have been created in nations all over the world. However, in vitro toxicity evaluation approaches are becoming more used in a variety of industries. Regulatory authorities may substitute proven alternative testing for in vivo tests. Several countries have shown reluctance to use in vitro testing instead of in vivo techniques, even though the assay has been demonstrated to be more scientifically relevant. Several regulatory authorities in the United States continue to rely on animal testing data. Many organizations employ in vivo methodologies to assess innovative toxicological test methods.
COVID-19 Analysis:
Companies, on the other hand, have used a variety of ways to mitigate or remove these concerns, such as changing shifts, decreasing employees, and working remotely. Several companies supplied new tests and solutions to help the government's efforts to end the COVID-19 spread. These companies were able to reduce the impact of COVID-19 on their regular operations. Because of the limited working hours of these facilities, testing and research had to be outsourced. As a result, COVID-19 pushed the outsourcing trend and had a favourable influence on the toxicity testing outsourcing business.
Segmental Analysis:
Based on the method, the in-vitro segment is expected to hold the largest market share during the forecast period. The two biggest market-driving variables are increasing toxicological awareness and a broader preclinical pipeline. Furthermore, the growing costs of traditional animal tests, as well as the socio-ethical difficulties connected with animal tests, are likely to drive the expansion of the in-vitro toxicology testing market. Moreover, the significant improvements in the in-vitro toxicology tests used to analyse the safety of medications and their potential effects on cells and tissues are expected to boost the market growth. Companies are increasing their product lines to satisfy the rising demand for in-vitro toxicological analysis as the industry increases.
Toxicity Testing Outsourcing Market- Geographical Insights
North America is expected to dominate the market over the forecast period. This is owing to increased government attention on drug discovery, rising healthcare spending, and the availability of enough infrastructure to support the growth and development of drug discovery technologies. Furthermore, the adoption of toxicity testing services in the local market has been driven by severe regulatory constraints aimed at medication development and approval.
Toxicity Testing Outsourcing Market- Recent Development:
In December 2021, Toxikon Corporation, a contract research business, was acquired by Labcorp. This acquisition will assist Labcorp in developing and expanding CRO services in pharmaceutical and medical device testing.
Key features of the study:
This proposed research study on the Toxicity Testing Outsourcing market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for ` the Toxicity Testing Outsourcing market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain the Toxicity Testing Outsourcing market
The impact of COVID-19 on the Toxicity Testing Outsourcing market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight into the Toxicity Testing Outsourcing market post-COVID will also be covered.
To give the users of this report a comprehensive view of the Toxicity Testing Outsourcing market, we have also included a competitive landscape and key innovator analysis for the Toxicity Testing Outsourcing market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand the financial information and strategic initiatives of players operating in the Toxicity Testing Outsourcing market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, and regional expansion of major participants involved in the market on global as well as regional levels.
The global Toxicity Testing Outsourcing market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL TOXICITY TESTING OUTSOURCING MARKET KEY PLAYERS
Thermo Fisher Scientific, Inc.
Catalent, Inc
Charles River Laboratories
Euro fins Scientific
Intertek Group plc,
SGS SA
ICON plc.
Med pace
Labcorp Drug Development
Wuxi AppTec
GLOBAL TOXICITY TESTING OUTSOURCING MARKET, BY METHOD
In vitro
In vivo
GLOBAL TOXICITY TESTING OUTSOURCING MARKET, BY GLP TYPE
GLP
Non GLP
GLOBAL TOXICITY TESTING OUTSOURCING MARKET, BY END-USE
Pharmaceutical and Biopharmaceutical Companies
Academic and Research Institutes
Others
GLOBAL TOXICITY TESTING OUTSOURCING MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA