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In Vitro Toxicology Testing Market worth $18.6 billion by 2027 - Exclusive Report by MarketsandMarkets™

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MarketsandMarkets

09 Jun, 2022, 14:30 GMT

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CHICAGO, June 9, 2022 /PRNewswire/ -- According to the new market research report "In Vitro Toxicology Testing Market by Product (Assays (Western Blot, Tissue Culture), Equipment, Consumables, Software), Toxicity Endpoints (ADME, Skin Irritation, Cytotoxicity), Technology, Method, Industry (Pharma, Biotech) - Global Forecast to 2027", published by MarketsandMarkets™, the global In Vitro Toxicology Testing Market was valued at USD 11.2 billion in 2022 and is expected to reach USD 18.6 billion by 2027 growing at a CAGR of 10.8%.

Browse in-depth TOC on "In Vitro Toxicology Testing Market"
329 – Tables
47 – Figures
370 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=209577065

The major factors driving the growth of this market are the technological advancements, opposition to animal testing, and increasing R&D expenditure to detect toxicity at an early stage during drug development are the primary growth drivers for this market.

Due to covid-19 outbreak it is expected to propel the in vitro toxicology research field in the coming years. On the other hand, estimation of the major share of diagnostic assays and molecular testing of Covid-19, along with personalized medicine will grow at a stable pace in the coming years. There is a huge increase of manufacturers that have taken key steps to increase patient access for diagnostic testing, vaccine and drug development in laboratories, hospitals, and other testing sites across the globe to guide patient care and protect public health.

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 2021. Due to the increasing demand for high-quality reagents and the repeated use of media and reagents in vitro toxicology studies, the segment is attributed to grow.

During the forecast period in the toxicity endpoints and tests market, the organ toxicity segment is expected to grow at the highest in the market.

During the forecast period the organ toxicity segment is expected to grow at the highest in the market. Primary factors responsible for the growth in this segment are the increasing focus on drug safety and consumer-product safety.

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

In 2021, the cell culture technologies segment is estimated to account for the largest market share. The cell culture technologies technique is the most preferred technique for toxicity testing, being capable of mimicking in vivo conditions and this the main reason that it will drive the largest market share.

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Asia Pacific is estimated to be the fastest-growing market for in vitro toxicology testing during the forecast period

The APAC market is projected to register the highest growth during the forecast period. Factors such as, opposition to animal testing resulting in the use of alternate methods, emergence of CROs for outsourcing toxicology-related research projects, growing consumer awareness of product safety, and increasing pharmaceutical drug pipeline, are some of the key factors driving the growth of the in vitro toxicology testing market in the APAC.

The prominent players in the in vitro toxicology testing market include Thermo fisher Scientific, Inc. (US), Laboratory Corporation of America Holdings (US), Bio-Rad Laboratories, Inc. (US), General Electric Company (US), Eurofins Scientific (Luxembourg), Merck KGaA (Germany), Charles River Laboratories International, Inc. (US), Catalent, Inc. (US), Evotec (UK), SGS S.A. (Switzerland), QIAGEN (Germany), Promega Corporation (US), Gentronix Limited (UK), BioIVT (US), and MB Research Laboratories (US).

Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=209577065

Browse Adjacent Markets: Biotechnology Market Research Reports & Consulting

Browse Related Reports:

Flow Cytometry Market by Product (Analyzer, Sorter, Reagents, Consumables, Software), Technology, Application (Research, Clinical - Cancer Diagnostics, Hematology), End User (Academia, Research Labs, Pharma, Biotech, Hospitals) - Global Forecast to 2026
https://www.marketsandmarkets.com/Market-Reports/flow-cytometry-market-65374584.html

In Vivo Toxicology Market by Product (Animal Models, Reagents & Kits), Test Type (Chronic, Sub-acute), Toxicity Endpoints (Systemic, Immunotoxicity), Testing Facility (Outsourced, In-house), End User (Academic & Research Institute, CROs) - Forecast to 2025
https://www.marketsandmarkets.com/Market-Reports/in-vivo-toxicology-testing-market-105308811.html

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
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USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
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