Global In-vitro Toxicology Testing Market is emerging with high CAGR of 7.11% through 2025
In-vitro toxicology testing is a nascent sector across the In- vitro diagnostic market and is set to enter growth phase with CAGR of 7.11% between 2019 and 2025. Increasing R&D investments to detect toxicity during drug development, integration of advanced technology approaches along with growing concerns to reduce animal testing are amidst factors driving in-vitro toxicology market growth and value.
Rising number of toxicology databases, growing awareness regarding drug product safety, and advancements in-vitro toxicology assays are attributing to growth opportunities for in-vitro toxicology testing market.
Cell culture technology is set to penetrate In-vitro toxicology testing market growth driven by advancements in cell line production and cell cultivation methods. The adoption of cell culture technology is driven to obtain advantages of cost-effective toxicity testing.
In addition, growth in nonprofit laboratories with intense investments from regulatory testing consortium is set to shape the market size over the long term period. For instance, The PETA International Science Consortium Ltd. donated $50,000 in equipment to the Institute for In Vitro Sciences (IIVS). Accordingly, IIVS will use the VITROCELL, Cloud inhalation exposure system to assess the effects of substances on the human respiratory tract instead of animals.
Request Sample @ https://www.oganalysis.com/sample/216315
Further, manufacturers of e-cigarettes and other next-generation tobacco products investing in non-animal tests are embracing in-vitro toxicology and are set to tweak potential in-vitro toxicology testing market opportunities in the medium to long term.
However, factors such as lack of skilled professionals, use of alternative methods, and incapability to detect immunostimulation and autoimmunity are restraining the in-vitro toxicology testing market growth.
Among the applications, systemic toxicology occupies major market share during the forecast period 2019 to 2025
Biotechnology companies relying on cell-based assays to conduct research activities are propelling market growth. Accordingly in 2018, SGS, a biopharmaceutical solutions provider announced the introduction of in vitro toxicology services to allow its clients to establish the toxicological profiles of bio/pharmaceuticals, medical devices, cosmetics and chemicals.
Browse In-vitro Toxicology Testing Market Research Report @ https://www.oganalysis.com/industry-reports/216315/in-vitro-toxicology-testing-market
Strong emergence of key end-users is set to drive the in-vitro toxicology testing market growth
Key market end-users including pharmaceutical industry, cosmetics & household products, diagnostics, chemicals industry, and food industry are increasingly adopting in-vitro toxicology testing and are driving the market growth. Accordingly, key players are jointly introducing in-vitro toxicology testing models both for medical sector and consumer goods sector.
For example, in September 2019, microvessel-on-a-chip, an in vitro model toxicology testing model was jointly developed by Philip Morris International (PMI) and MIMETAS to measure the early onset of atherogenesis as well as to provide toxicological assessment of consumer products.
In addition, consumer products giants are encouraging in vitro methods to eliminate animal testing without compromising on product safety. Accordingly, in October 2019, Clorox pledged to stop animal testing and incorporate ESG goals into broader business strategy.
Request for Special Discount on In-vitro Toxicology Testing Market report @ https://www.oganalysis.com/discount/216315
North America and Europe emerge as major contributors for in-vitro toxicology testing market share during the forecast period
The In-vitro toxicology testing market growth across Americas and European countries is characterized by ambitious plan to eradicate cruel animal testing and promote ethical behaviors towards animal drug toxicology. Accordingly, In the U.S. Environmental Protection Agency, or EPA, plans to eliminate animal testing by 2035.
In response to strong demand for alternative testing methods, key market players are entering into agreements with CRO to expand in-vitro toxicology testing platforms. For example, in 2019, SenzaGEn signs agreement with MB research Labs to expand animal-free testing platforms in the U.S and promote in-vitro toxicology testing in combination with AI.
Further, Across Europe, personal care and cosmetic products manufacturers which have not complied with regulatory review of cruelty-free testing are being banned. In-vitro International has pursued this pathway industriously with in vitro technology adopted at the GHS level and Ocular Irritection (OI) currently following in a similar manner.
Furthermore, as a result of increased support from regulatory, consumer and government areas for in vitro tests to replace animal testing, large consumer markets such as China, Brazil, India, and Colombia, as well as Taiwan and other smaller markets have legislation requiring in-vitro toxicology testing.
In-vitro Toxicology Testing Market Competitive Scenario
Key companies set to promote long term market growth are analyzed including Abbott Laboratories, Agilent Technologies, Ascendance Biotechnology, Inc., Bio-Rad Laboratories, Catalent, Inc., Charles River Laboratories International, Inc., Covance, Evotec Ag, Eurofins Scientific, and GE Healthcare.
Global Oil and gas industry annual subscription from OG ANALYSIS provides access to 11 databases including Exploration, Production, Refinery, LNG, Oil and Chemicals Storage, Pipelines, Market Intelligence, CAPEX, Tankers, small LNG and Trade.
About OG Analysis:
OG Analysis has been a trusted research partner for 10+ years delivering most reliable analysis, information and innovative solutions. OG Analysis is one of the leading players in market research industry serving 980+ companies across multiple industry verticals. Our core client centric approach comprehends client requirements and provides actionable insights that enable users to take informed decisions.
Phone: +91-7337 01 3757
Follow Us on LinkedIn: https://www.linkedin.com/company/og-analysis/