Published on : Dec 15, 2017
Albany, New York, December 15, 2017: An insightful report recently added to the colossal repository of Market Research Hub (MRH) offers analysis on the global market or in vitro toxicology testing for the for the forecast period, 2017 to 2022. The market is projected to increase at a steady CAGR through 2022. Growing number of research & development procedures that require in vitro testing, a prohibition on animal testing, and rising awareness on environmental concerns are some factors driving expansion of the global in vitro toxicology testing market.
Development of Toxicology Databases to Carry Out In-Silico Analysis to Impact Market Expansion
Regulatory authorities across the globe are getting inclined toward adoption of in vitro tests for toxicology testing, instead of using animals. Emergence of many animal welfare organizations, which engage in replacement and reduction of animal use in pre-clinical tests, as well as in research & development activities are likely to pave remunerative growth potential for manufacturers to capitalize on. There has been a surge in number of methods in bioinformatics and biotechnology for conducting in-silico simulations on animal models. Development of toxicology databases to carry out in-silico analysis of multiple compounds is poised to propel demand for in vitro testing, thereby impacting its market expansion.
Various governments worldwide are making considerable investments in research, along with the provision of definite reimbursement policies for developing technologically advanced and automated equipment for ex-vivo studies and laboratory analysis. This is further expected to enhance the stability of the market globally. However, unavailability of immune stimulation and immunity testing in present in vitro tests is a major challenge likely to curb the market growth in the foreseeable future.
Key Research Findings from In Vitro Toxicology Testing Market Report
- North America will continue to be relatively more financially worthwhile for expansion of the in vitro toxicology testing market, as compared to all the other regional segments.
- Among products utilized in in vitro toxicology testing, assays are anticipated to remain sought-after, with revenues projected to account for over half share of the market during the forecast period. In addition, sales of services for in vitro toxicology testing are projected to register a robust expansion through 2022.
- Cellular assays are expected to remain the most lucrative method adopted for in vitro toxicology testing. Revenues from cellular assay method for in vitro toxicology testing are projected to reach nearly US$ 4000 Mn by 2022-end. However, demand for cellular assays method in the market is expected witness a significant decline over the forecast period.
- On the basis of industry, pharmaceutical and biopharmaceutical industry is slated to account for the largest market revenue share during 2017 to 2022. Major portion of the revenue share from this industry segment will be accounted by North America.
- Cell culture technologies are projected to remain the fastest expanding technology adopted in in vitro toxicology testing through 2022.
Collaboration with Small Clinical Research Organization to Remain a Key Strategy for Market Players
According to the report, leading market participants are increasingly focusing on developing software solutions dedicated toward enhancing in-silico simulation method for toxicological profiling in various compounds. Collaboration with small clinical research organizations and tapping into potential markets are key strategies adopted by the market players to gain a competitive edge. Key market participants profiled by the report include SGS S.A., Charles River Laboratories International, Inc., GE Healthcare Inc., Promega Corporation, Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., Eurofins Scientific Se, Merck KGaA, Qiagen N.V., and Cyprotex PLC.
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