PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1299754
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1299754
In-vitro toxicology testing market size was valued at USD 29,402.3 Million in 2022, expanding at a CAGR of 12.3% from 2023 to 2030.
In vitro toxicity testing (IVTT) is mainly used for medication development to assess the safety and according to their potency for ranking the chemicals. Additionally in vitro is a term that helps examine hazardous chemicals on a section of an organism that has been isolated. Moreover, it is utilized to identify toxicity at the early stages of the development of new products including food additives, drugs, and cosmetics. Further, in vitro, toxicity testing can also be used to determine distribution, excretion (ADME), drug absorption, threshold response, and metabolism.
Rising government initiatives focused on banning animal testing can be anticipated to the increasing adoption of in-vitro toxicology testing. In addition, various private agencies and government bodies are involved in providing funding opportunities and programs to research communities for the development of in-vitro test approaches. This in turn projected to drive the market growth over the forecast period. However, less awareness and a lack of skilled professionals are major factors that may hinder the market growth.
Moreover, advancements in medical technology and the increasing number of toxicology databases will offer massive opportunities for the in-vitro toxicology testing market growth. Further, personalized medicine using in vitro methods and a rising focus on drug discovery is anticipated to expand the in-vitro toxicology testing market's growth. The COVID-19 pandemic forced many companies to halt business operations in the global in vitro toxicity testing market. There is a delay in the manufacturing of industrial products due to a lack of manpower and raw materials during the lockdown period.
The global in-vitro toxicology testing market is segmented on the basis of technology, application, method, end-user, and region.
The market is divided into three categories based on technology: cell culture technology, high throughput technology, molecular imaging, and OMICS technology. The cell culture technology segment is likely to maintain its dominance. To consistent samples, cell cultures offer reproducible results, for toxicology assays they serve as an excellent model. Additionally, pharmaceutical manufacturers, healthcare academic institutions, and biotechnology industries have adopted cell culturing technology in comparison to animal testing.
The market is divided into two categories based on application: systemic toxicology, dermal toxicity, endocrine disruption, ocular toxicity, and others. The systemic toxicology sector is anticipated to grow over the forecast period. Several types of systemic toxicology studies include chronic systemic toxicity, sub-chronic systemic toxicity, acute systemic toxicity, and sub-acute systemic toxicity. As a result, the aim is to generate precise data points such as minimum dose that results in maximum tolerated dose, toxicity, and plasma concentration which direct to toxicity and margin of safety that helps to make decisions.
The market is divided into two categories based on method: cellular assay, biochemical assay, in-silico, and ex-vivo. The cellular assay sector is likely to hold the market revenue. The cellular assay is the best model and is available broadly for identifying the pharmacokinetic profile of drugs and it further attributes to the high revenue in the in-vitro toxicology testing market.
The market is divided into two categories based on end-user: pharmaceutical industry, cosmetics & household products, academic institutes & research laboratories, diagnostics, chemicals industry, and food industry. The pharmaceutical industry sector is likely to possess market growth. For analyzing the pharmacokinetic properties of pharmaceutical drugs the high use of toxicology testing is attributed to propel segment demand.
The factor that resulted in the expansion of in vitro toxicity testing market is the development of 3D cell culture. Additionally, rising research & development procedures will likely act as an opportunity that further accelerate the in-vitro toxicology testing market's growth. Moreover, market players are adopting strategies to enlarge their business including partnerships, product innovation, collaboration, and mergers & acquisitions. For instance, in January 2021, Charles River a company announced a partnership with Cypre, Inc. for Targeted Therapy Drug Screening and Cancer Immunotherapy. Additionally, the partnership will offer Charles River clients access to Cypre's proprietary 3D tumor model platform, Falcon-X™, which will expand Charles River's 3D to further analyze immuno-oncological approaches for its patients.
This proposed research study on in-vitro toxicology testing 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 attractive investment proposition matrix for in-vitro toxicology testing market.
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the in-vitro toxicology testing market.
Impact of COVID-19 on in-vitro toxicology testing market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on in-vitro toxicology testing market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the in-vitro toxicology testing market, we have also included competitive landscape and key innovator analysis for the in-vitro toxicology testing 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 their financial information and strategic initiatives of players operating in the in-vitro toxicology testing market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global in-vitro toxicology testing 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: