According to a recent market research report on the In Vitro Toxicology Testing Market, published by MarketsandMarkets™, the global market for in vitro toxicology testing is anticipated to grow at a compound annual growth rate (CAGR) of 10.8%, reaching USD 18.6 billion by 2027 from its value of USD 11.2 billion in 2022.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=209577065mlThe primary factors propelling the market growth include advancements in technology, the growing opposition to animal testing, and increased investment in research and development (R&D) aimed at early detection of toxicity during drug development.The COVID-19 pandemic is also expected to have a significant impact on the in vitro toxicology research field in the future. Additionally, diagnostic assays and molecular testing for COVID-19, along with personalized medicine, are projected to experience stable growth. Many manufacturers have taken strategic measures to enhance patient access to diagnostic testing, as well as vaccine and drug development, in various testing sites such as laboratories and hospitals worldwide, in order to guide patient care and protect public health.In terms of product and service, the consumables segment is predicted to dominate the in vitro toxicology testing market, accounting for the largest market share. This is attributed to the rising demand for high-quality reagents and the repeated use of media and reagents in in vitro toxicology studies.The toxicity endpoints and tests market is expected to witness the highest growth in the organ toxicity segment during the forecast period. This growth can be attributed to the increasing focus on drug safety and consumer-product safety.Among the technologies utilized in in vitro toxicology testing, the cell culture technologies segment is projected to hold the largest market share. Cell culture technologies are preferred for toxicity testing due to their ability to replicate in vivo conditions accurately.The Asia Pacific region is expected to experience the highest growth rate in the in vitro toxicology testing market during the forecast period. Factors such as the opposition to animal testing, the emergence of contract research organizations (CROs) for outsourcing toxicology-related research projects, growing consumer awareness of product safety, and an increasing pharmaceutical drug pipeline contribute to this growth.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=209577065Prominent players in the in vitro toxicology testing market include Thermo Fisher Scientific, Laboratory Corporation of America Holdings, Bio-Rad Laboratories, General Electric Company, Eurofins Scientific, Merck KGaA, Charles River Laboratories International, Catalent, Evotec, SGS S.A., QIAGEN, Promega Corporation, Gentronix Limited, BioIVT, and MB Research Laboratories.
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