Vitro Toxicology Testing Market poised to expand at 8.2% CAGR by 2024
This market research report identifies Laboratory Corporation of America Holdings, Charles River Laboratories, Inc, Thermo Fisher Scientific, Eurofins Scientific, Agilent Technologies, Inc., as the major vendors operating in the global in vitro toxicology testing market. This report also provides a detailed analysis of the market by toxicology end points (systemic toxicity, cytotoxicity testing, genotoxicity testing, ocular toxicity, organ toxicity, dermal toxicity, neurotoxicity, and others), industry type (pharmaceutical and biopharmaceutical, cosmetics, chemical, diagnostics, and food industry), and region (North America, Europe, Asia Pacific, and Rest of the World).
Infoholic’s market research report predicts that the global in vitro toxicology testing market will grow at a CAGR of 8.2% during the forecast period 2018–2024. The market for in vitro toxicology testing is driven by high opposition to animal testing, increased cost related to animal-based toxicity testing, and increasing R&D expenditure for early stage toxicity testing. Whereas, the lack of in vitro models and decreased adoption rate are limiting the growth of the in vitro toxicology testing market to an extent.
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According to the in vitro toxicology testing market analysis, Europe accounted for the largest share of the global in vitro toxicology testing market followed by North America in 2017. The reason is the upsurge in the investments by the European Commission in R&D to develop substitute methods to in vitro testing is driving the demand in this region. Asia Pacific is expected to grow at a high CAGR during the forecast period due to increasing number of contract research organizations offering testing services, advancements in healthcare infrastructure, increasing investments in the biopharmaceutical sector, and upward economic conditions in the region.
Competitive Analysis and Key Vendors:
There is an increase in collaborations between companies on in vitro testing of compounds. For instance, in December 2016, Evotec and Celgene entered into a drug discovery collaboration for neurodegenerative diseases. According to agreement terms, Celgene will use Evotec’s unique induced pluripotent stem cell (iPSC) platform that enables systematic drug screening in patient-derived disease models. In June 2017, Censo Biotechnologies Ltd. collaborated with Evotec AG to source and provide patient-derived induced pluripotent stem cells to support Evotec’s drug discovery iPSC platform. In addition, the companies are also coming up with new products for in vitro testing. For instance, in January 2018, STEMCELL Technologies Inc. released two product lines for organoid research that will enable scientists to create powerful models for studying human disease in the laboratory.
Some of the In Vitro Toxicology Testing Market key vendors are:
- Laboratory Corporation of America Holdings
- Charles River Laboratories, Inc.
- Thermo Fisher Scientific
- Eurofins Scientific
- Agilent Technologies, Inc.
Other prominent vendors in the global in vitro toxicology testing market are Bio-Rad Laboratories, GE Healthcare, SGS SA, BioIVT, Abbott Laboratories, Gentronix Limited, Promega Corporation, MB Research Laboratories, Evotec AG (Cyprotex plc), Catalent, Inc., Qiagen N.V., and niche players.
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In Vitro Toxicology Testing Market by Toxicology End Points:
- Systemic toxicity
- Cytotoxicity testing
- Genotoxicity testing
- Ocular toxicity
- Organ toxicity
- Dermal toxicity
In 2017, the systemic toxicity accounted for the highest market share due to the availability of a wide range of sub-studies, which ensure total analysis of toxicity and safety margin of the testing compounds.
In Vitro Toxicology Testing Market by Industry type:
- Pharmaceutical and biopharmaceutical industry
- Cosmetics industry
- Chemical industry
- Diagnostics industry
- Food industry
In 2017, the pharmaceutical and biopharmaceutical industry occupied significant market share and the cosmetics industry is expected to hold a high percentage during the forecast period. Increased support of regulatory authorities to use in vitro and in silico methods instead of animal testing to check toxicology is driving the growth of the cosmetic industry.
In Vitro Toxicology Testing Market Benefits:
The report provides detailed information about the services offered by in vitro toxicology testing in various therapeutic verticals and regions. With that, key stakeholders can find out the major trends, drivers, investments, and vertical player’s initiatives. Moreover, the report provides details about the major challenges that are going to have an impact on market growth. Additionally, the report gives complete details about the business opportunities to key stakeholders to expand their business and capture revenues in the specific verticals. The report will help companies interested or established in this market to analyze the various aspects of this domain before investing or expanding their business in the in vitro toxicology testing market.