In-vitro Toxicology Testing Market Is Predicted To Reach USD 44.7 Billion By 2022:By Grand View Research, Inc.
The global in-vitro toxicology
testing market is expected to reach USD 44.7 billion by 2022
growing at an estimated CAGR of 10.5% from 2015 to 2022, according to a new
report by Grand View Research, Inc. This expected rise in demand can be
ascribed to novel and promising technologies in analytical laboratories.
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.
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.
Browse full research report on In-vitro Toxicology
Testing Market: http://www.grandviewresearch.com/industry-analysis/in-vitro-toxicology-testing-market
Further key findings from the study suggest:
- Pharmaceutical
and cosmetic industry together accounted for almost 65% of total revenue
generated in this sector for 2014. This large share can be attributed to
rapid novel product launches for treatment of different diseased
conditions wherein toxicological testing is the pre-requisite step.
- Cell
culture technology contributed for over 42% of the revenue generated in
the industry with respect to technology owing to critical role of cell
culture in biotechnological development and cell based analysis
- Omics
technology is anticipated to register lucrative growth thereby driving
demand due to advancement in sequencing methods and availability of
different platforms depending on source and target sequence.
- As a
fundamental process in biopharmaceutical or pharmaceutical product
development toxicological testing finds application in determination of
systemic, dermal, & ocular toxicity as well as endocrine
disruption
- Amongst
the above enlisted applications, dermal toxicity is expected to witness
significant progress with a CAGR of approximately 13% due to comparatively
higher incidence of side effects associated with skin after administration
of several compounds.
- North
America accounted for the largest share of over 45% in revenue in 2014
owing to presence of significant number of sector players that are
implementing advanced in-vitro technology. Furthermore,
presence of stringent regulations pertaining to animal usage in toxicity
analysis attributive towards high demand of in-vitro tests
in this region.
- Asia
Pacific is expected to witness lucrative CAGR of over 11% from 2015 to
2022 due to rapid improvement in health care infrastructure in developing
economies of this region which in turn contributes to regional progress in
industry.
- Key
participants of in-vitro toxicology testing industry are Quest
Diagnostics, Covance, Cyprotex, Alere, Inc, Charles River Laboratories, GE
Healthcare, Thermo Fisher Scientific, Eurofins Scientific, Inc., Agilent
Technologies, Catalent Pharma Solutions, Sigma Aldrich, and Bio-Rad.
- These
participants are involved in collaborations with bioinformatics research
firms in order to develop novel in-silico algorithms for
computational estimation of toxicity of pharmaceutical and chemical
products.
- Moreover,
these market entities are also focusing on entering untapped regions in
order to maintain their share in market revenue.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/clinical-diagnostics
Grand View Research has segmented in-vitro toxicology
testing market on the basis of end use, technology, method, application, and
region:
Global In-vitro Toxicology Testing
Outlook, by End-use (Revenue, USD Million, 2012 - 2022)
- Pharmaceutical
industry
- Cosmetics
& household products
- Diagnostics
- Chemical
industry
- Food
industry
Global In-vitro Toxicology Testing
Technology Outlook (Revenue, USD Million, 2012 - 2022)
- Cell
culture technology
- High
throughput technology
- Molecular
imaging
- OMICS
technology
Global In-vitro Toxicology Testing
Outlook, by Application (Revenue, USD Million, 2012 - 2022)
- Systemic
Toxicology
- Dermal
Toxicity
- Endocrine
Disruption
- Occular
toxicity
Global In-vitro Toxicology Testing
Outlook, by Method (Revenue, USD Million, 2012 - 2022)
- Cellular
Assay
- Biochemical
Assay
- In-Silico
- Ex-vivo
In-vitro Toxicology Testing Regional Outlook
(Market Revenue in USD Million, 2012 - 2022 )
- North
America
- Europe
- Asia
Pacific
- RoW
Access press release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-in-vitro-toxicology-testing-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more Info: www.grandviewresearch.com
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