Market Research Report
In-Vitro Toxicology/Toxicity Testing Market by Product and Service, Technology, Method, End-point, End-user, and Geography - Global Forecast to 2025
|Published by||Meticulous Market Research Pvt. Ltd.||Product code||915903|
|Published||Content info||189 Pages
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|In-Vitro Toxicology/Toxicity Testing Market by Product and Service, Technology, Method, End-point, End-user, and Geography - Global Forecast to 2025|
|Published: November 6, 2019||Content info: 189 Pages||
In-Vitro Toxicology/Toxicity Testing Market by Product & Service, Technology (Cell Culture, OMICS), Method (Cell-based Assays, In-Silico), End-point (ADME, Genotoxicity, Organ Toxicity, Dermal Toxicity), End-user, and Geography - Global Forecast to 2025
The global in vitro toxicology testing market is expected to grow at a CAGR of 9% from 2019 to reach $14.4 billion by 2025.
Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, opportunities, and challenges. The factors such as ethical issues and pressure from animal activists' groups concerning the use of animals for testing, ban on animal testing on cosmetic products, support from regulatory bodies regarding the approval of in vitro tests, low costs associated with in vitro toxicology testing, and advancements in in vitro methodologies are driving the growth of the global in vitro toxicology testing market. Synergetic relationships between various stakeholders of the industry, and increasing toxicology databases to facilitate the use of in vitro test methods are expected to offer significant growth opportunities for the players operating in this market. However, failure to establish intricacies of in vivo conditions and limited in vitro models to test complex endpoints hinders the growth of this market.
Based on the product type, consumables segment is estimated to dominate the global in vitro toxicology testing market in 2019, mainly due to increasing number of in vitro tests being performed across the globe leading to recurrent purchase of reagents and other labware. However, the software segment is projected to grow at the fastest CAGR during the forecast period. The high growth of this segment can be attributed to increasing computer models and algorithms being developed to predict toxicity of the test substances.
On the basis of technology, the cell culture technologies segment is estimated to account for the largest share of the overall in vitro toxicology testing market in 2019, owing to growing adoption of 3D cell culture and stem cell models.
An in-depth analysis of the geographical scenario of the industry provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) along with the coverage of major countries in each region. Europe commanded the largest share of the global market, followed by North America and Asia Pacific (APAC). The large share of this region is mainly attributed to the factors such as ban on animal testing for cosmetics and its ingredients, and government initiatives to promote the reduction of use of animals for toxicity testing. On the other hand, Asia-Pacific region is expected to grow at the highest CAGR during the forecast period of 2019 to 2025, owing to increasing biotech investments in this region and growing collaborations between local and foreign companies.
The major players operating in the global in vitro toxicology testing market are Thermo Fisher Scientific (U.S.), Merck (Germany), and GE Healthcare (U.S.), Bio-Rad Laboratories (U.S.), SGS SA (Switzerland), Laboratory Corporation of America Holdings (U.S.), Qiagen N.V. (Netherlands), and Eurofins Scientific (Luxembourg), among others.