In-Vitro Toxicology Testing Market Estimated to Grow at a CAGR of 9.8% During the Forecast Period 2021-2026
Increasing Technological Advancement in the Field of Healthcare Coupled With Opposition Animal Testing in Pre-clinical Research Are Major Factor Driving the Growth of the Market.
Hyderabad, India – July 7, 2021 /MarketersMedia/ —
In-Vitro Toxicology Testing Market size in 2020 is estimated at $8.7 billion, growing at a CAGR of 9.8% during the forecast period 2021-2026. In-vitro Toxicology testing is analysis of the effects of toxic chemical substances on cultured bacteria or mammalian cells. It is used to identify dangerous chemical compounds such as endocrine disruption and to diagnose toxicity in new materials such as medications, cosmetics, and food additives at an early stage of production.
In vitro toxicity assessment is primarily used for medicine production safety assessment and ranking of chemicals. It is an enzyme linked immunosorbent assay used in adenosine triphosphate generation. Increasing technological advancement in the field of healthcare coupled with opposition animal testing in pre-clinical research are major factor driving the growth of the market. Moreover, growing safety of consumer products will further enhance the overall market demand for In-vitro Toxicology testing for the period 2021-2026.
In-vitro Toxicology Testing Market Segment Analysis – By Technology
Based on the technology, In-vitro Toxicology Testing Market is segmented into Cell Culture, OMICS, High Throughput, Molecular Imaging, Others. The cell culture technology segment is estimated to dominate the market during the period 2021-2026. This is attributed to most preferred technology for testing toxic effects. Furthermore, it provides reproducible results which helps early detection of toxicity in the medicine development process with the help of enzyme linked immunosorbent assay. The OMICS, segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 10.6% during the period 2021-2026. This is mainly owing to it provides personalized toxicology data.
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In-Vitro Toxicology Testing Market Segment Analysis- By End-User
Based on the end-user, In-vitro Toxicology Testing Market is segmented into Pharmaceutical & Biotechnological industries, cosmetics industries, Food industry, Chemical industry, others. In 2020, Pharmaceutical & Biotechnological industries is estimated to hold major share in the market. This is mainly owing to high use of toxicity testing pharmacokinetic analysis of novel and generic modified pharmaceutical products. Moreover, it is widely used and preferred testing also contributing to the dominance of this segment. Also, chemical industry is projected to grow with a CAGR of 9.1% over the period 2021-2026. This is owing to rise in product development owing to implementation of tools.
In-vitro Toxicology Testing Market Segment Analysis- By Geography
North America dominated the In-vitro Toxicology Testing market share accounting for 39.8% of the market in 2020. This is mainly owing to increasing awareness about product safety coupled with rising government support which lead to rapid development of cost effective testing for medicines, device and others in this region. However, the Asia-Pacific region is projected to be the fastest-growing over the period 2021-2026. This is owing to rising expenditure on healthcare coupled with rising advancement in In-vitro Toxicology Testing.
In-vitro Toxicology Testing Market Drivers
Opposition to Animal Testing
Opposition to animal testing in medical development across the globe is driving the growth of In-vitro Toxicology Testing market. For instance in April 2018, The United States Environmental Protection Agency (EPA) has issued a draft Science Policy to limit the use of animals in chemical tests to see whether they induce an allergic reaction, irritation, or skin sensitization. Moreover, growing awareness about product safety is also set to increase the market growth.
Rising Technological Advancement
Rising technology advancement in in-vitro toxicology testing is also driving the market. For instance, FDA recently approved various in-vitro diagnostic kits for use of COVID-19 testing such as in vitro diagnostic assay and PCR testing panels and medicines. Also, rising research and development by producers for developing their product portfolio as they provides rapid, reproducible, and reliable assays in worldwide is also set to the growth of In-vitro Toxicology Testing Market.
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In-vitro Toxicology Testing Market Challenges
Lack of professional who perform in-vitro toxicology testing and In-vitro models are unable to assess autoimmunity and immunostimulation is challenging the market. Along with this strict regulatory framework for in-vitro tests are also further challenging the growth of the market.
Covid-19 Impact
Moreover, the outbreak of COVID-19 around the world has impacted all industries including healthcare industry. Covid- 19 affects the In-vitro Toxicology Testing market including drastic reduction demand owing to lack of visits to healthcare facilities such as hospitals and clinics. Also owing to widespread of coronavirus it affects workforce and staffing issues, procedural prioritisation. These affects In-vitro Toxicology Testing market by cancellation of scheduled visit for primary care at hospitals and reflecting patients concern about infection.
In-vitro Toxicology Testing Market Industry Outlook
Product launches, Merger & Acquisitions, Joint Ventures and R&D activities are key strategies adopted by players in the In-vitro Toxicology Testing Market. In-vitro Toxicology Testing top 10 companies are Thermo Fisher Scientific Inc., Abbott Laboratories, Covance, GE Healthcare, Merck KGaA, Promega Corporation, Bio-Rad Laboratories, Inc., Eurofins Scientific, Agilent Technologies and Quest Diagnostics.
Development:
In August 2019, Abbott Laboratories signed agreement with Intoximeters, giving Intoximeters exclusive distribution rights in the United States for Abbott’s SoToxa Mobile Screening System, a portable oral fluid solution for medical products and drink testing.
In August 2019, Merck acquired BSSN Software Germany based company that makes data more readily accessible for ease of integration, collaboration, analysis and long-term archiving.
Key Takeaways
In 2020, North America dominated the In-vitro Toxicology Testing Market owing to rising technological advancement and government support.
Increasing innovation and development in In-vitro Toxicology Testing across the globe is driving the market growth of In-vitro Toxicology Testing.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the In-vitro Toxicology Testing Market report.
Strict regulation framework for in-vitro test and lack of professional are challenging the growth of the market.
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