In-vitro Toxicology Testing Market Size Is Estimated To Reach $44.7 Billion By 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 report 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-silicoalgorithms 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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