(PharmaNewsWire.Com, July 10, 2017 ) According to the report Global In-Vitro Toxicology Testing Market, published by Market Data Forecast, the global market is projected to reach USD 27.38 billion by 2021, at a CAGR of 14.10 % from 2016 to 2021.
In-vitro toxicology testing is the scientific analysis of toxic effects produced by chemical substances on cultured mammalian cells or bacteria. Toxicity testing is very essential in drug discovery as identifies the toxic effects of new compound in the early stages of drug discovery. This early detection of toxicity reduces the development cost and time.
Rise in government imposed restrictions and guidelines on usage of animals for pre-clinical research and toxicology testing is also attributive towards estimated progress in this industry. Additionally, increasing R&D in biotechnology sector for enhancement in cell based assays and cell culture techniques, is anticipated to impart significant growth potential in this sector.
Global In-Vitro Toxicology Testing Market: Drivers & Restraints Increasing technological advancements, rising research & development in cell culture, growing demand for in-vitro toxicology tests over the conventional in-vivo tests, increasing awareness towards toxicity testing studies, rising health-consciousness amongst individuals, growing economic status in emerging nations, existence of favorable regulatory authorities for toxicology testing using the in-vitro tests are driving the growth of in-vitro toxicology testing market. However, scarcity of in-vitro models to detect immunostimulation & autoimmunity, lack of predictive ability of in vitro testing over in vivo testing, technological disadvancements limiting the use & decreasing adoption rate are the major factors that restrain the growth of in-vitro toxicology testing market.
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Global In-Vitro Toxicology Testing Market: Overview In-silico method is estimated to command the largest share of global in-vitro toxicology testing market by method in 2016. The cosmetics & household products industry is estimated to account for the largest market share of global in-vitro toxicology testing market by industry in 2016. Systemic toxicity is estimated to command the largest share of global in-vitro toxicology testing market by toxicity endpoints & tests in 2016.
Advancement in bioinformatics based research for development of efficient software algorithms in order to carry out efficient stimulation of in-silico animal models in determination of toxicological response is expected to influence sector growth through to 2022. Furthermore, rapid up gradation of databases that serve information for toxicity profiling and lethal dose determination of different compounds is anticipated to create significant potential for growth in this market during the forecast period. Global In-Vitro Toxicology Testing Market: Region-wise Outlook
On the basis of geographical region the global in-vitro toxicology testing market is segmented as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Europe is estimated to account for the largest share of 32.5% of the global in-vitro toxicology testing market in 2016, whereas Asia-Pacific is estimated to grow at the highest CAGR of 16.10% during the forecast period 2016-2021.
Key Questions Answered
What is the current and future Global In-Vitro Toxicology Testing Market outlook in global? What trends are affecting the global market?
What is the competitive landscape and market share of major players in the Global In-Vitro Toxicology Testing space globally?
What are the analysis of the macro and micro factors that affect the Global In-Vitro Toxicology Testing Market on both global and regional scales?
What are the key, high growth markets that Global In-Vitro Toxicology Testing manufacturers should expand into? Which market segments are growing the fastest?
What are the unmet needs with the Global In-Vitro Toxicology Testing currently on the market? How will emerging technologies fulfil these unmet needs?
What is physician perception and market outlook of In-Vitro Toxicology Testing Market ?
What are the challenges and barriers that have hindered widespread adoption of Global In-Vitro Toxicology Testing Market?
What are the key sustainability strategies adopted by market players ?
Global In-Vitro Toxicology Testing Market: Key Players The key players in global in-vitro toxicology testing market include, Covance, Inc. (A subsidiary of LabCorp) (U.S.), Agilent Technologies, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Eurofins Scientific SE (Luxembourg), General Electric Company (U.S.), BioReliance, Inc. (A subsidiary of Merck & Co, Inc.) (U.S.), Charles River Laboratories International, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Catalent (U.S.), and Cyprotex (U.K.), among others.
Reasons to buy In-Vitro Toxicology Testing Market Report:
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porters Five Forces Analyses
A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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