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(Health-NewsWire.Net, October 19, 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.
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.
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.
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) are some key players in this market. These companies are focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies such as product launches, acquisitions, and expansions.
Thermo Fisher Scientific was one of the leading players in the in vitro toxicology testing market in 2019. The company is a global manufacturer of analytical instruments, laboratory equipment, software, consumables, reagents, and services for the in vitro toxicology testing market. Owing to its strong sales and distribution network, the company has a significant global footprint. The company leverages the advantage of three well-established brands—Thermo Scientific, Fisher Scientific, and Unity Lab Services. In February 2014, Thermo Fisher acquired Life Technologies (US), thereby adding another brand name to its business. Under the four brands mentioned above, the company has a very strong product portfolio for instruments, reagents, and services for life science research.
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The APAC in vitro toxicology testing 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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