In-vitro Toxicology Testing Market Is Predicted To Grow Quickly Due To The Increasing R&D Investments In Cell Culture Till 2022: 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
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.
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