In Vitro Toxicology Testing Market in terms of revenue was estimated to be worth $10.8 billion in 2023 and is poised to reach $17.1 billion by 2029, growing at a CAGR of 9.5% from 2023 to 2029 according to a new report by MarketsandMarkets. Technological advancements taking place in assays and equipment being used for such studies, along with the increasing R&D expenditure to undertake toxicity studies during the early stages of drug development, are also aiding the adoption of in vitro testing. Stringent regulations have also been implemented across large parts of the globe to minimize animal testing, which has prompted the pharmaceutical and cosmetics industries to shift to in vitro methods for product testing. However, authorities are still reluctant to fully accept safety and efficacy data generated from non-animal methods, which is a major restraint to market growth.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=209577065
The consumables segment accounted for the largest share by product & service in the In vitro toxicology testing market in 2022.
By product and service, the In vitro toxicology testing market has been further categorized as consumables, assays, equipment, software, and services. Consumables accounted for the largest share of the in vitro toxicology testing market in 2022. The large share of this segment can be attributed to the increasing demand for high-quality reagents and the repeated use of media and reagents in in vitro toxicology studies. Additionally, the growing R&D activities in the pharmaceutical industry and the increased initiatives by governments in various countries to strengthen their product safety assessment capabilities are supporting the growth of this market.
The organ toxicity segment is expected to grow at a higher rate during the forecast period.
Based on the toxicity endpoints and tests, the in vitro toxicology testing market has been segmented into absorption, distribution, metabolism, and excretion (ADME), skin irritation, corrosion, and sensitization, genotoxicity, cytotoxicity, ocular toxicity, organ toxicity, phototoxicity, dermal toxicity, and other toxicity endpoints & tests. In 2022, the ADME segment accounted for the largest share of the in vitro toxicology testing market. However, the organ toxicity segment is expected to grow at a higher growth rate during the forecast period of 2023-2028. This can be attributed to increasing regulatory demands for safety assessment and reducing animal testing, continuous advancements in cell culture and tissue engineering technologies, and increasing drug development needs.
The pharmaceutical & biopharmaceutical segment accounted for the largest share of the industry segment in the in vitro toxicology testing market in 2022.
Based on industry, the in vitro toxicology testing market has been segmented into pharmaceutical & biopharmaceutical, consumer care, food, and other industries (including chemical and medical device industries). In 2022, the pharmaceutical & biopharmaceutical industry segment accounted for the largest share of the in vitro toxicology testing market. One of the major factors driving the growth of this segment is the mandate of preclinical safety assessment for the marketing approval of pharmaceutical products. Additionally, the rising investments in discovering new ways to construct molecules to study genetics and proteins and the increasing focus on reducing economic losses due to drug failures in the late stage are expected to increase the demand for in vitro tests to screen potentially toxic molecules during drug development.
The cell culture technologies segment accounted for the largest share of the technologies segment in the in vitro toxicology testing market in 2022.
Based on the technologies, the in vitro toxicology testing market has been segmented into cell culture, high-throughput screening, and toxicogenomics. In 2022, cell culture technologies accounted for the largest share. This can be attributed to the fact that it is the most preferred technique for toxicity testing owing to its capability of mimicking in vivo conditions. Cell and tissue-based technologies are commonly employed for in vitro toxicology testing in pharmacology. Cell cultures, either bacterial or mammalian, can express the same genes and proteins as their in vivo counterparts. Their ability to produce similar testing environments is one of the major factors driving the growth of this segment.
The Europe region catered for the largest share of the in vitro toxicology testing market in 2022.
The in vitro toxicology testing market is segmented into North America, Europe, the Asia Pacific (APAC), Latin America (LATAM), and the Middle East and Africa (MEA). The European region is witnessing increasing investments to develop biologics and advanced dosage forms, with the impending patent expiration of several blockbuster drugs. The need to reduce the time and cost incurred to bring a drug to market—roughly 10 to 12 years, has contributed to the demand for in vitro toxicology testing of drugs.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=209577065
Key Market Players of In Vitro Toxicology Testing Industry:
Key players in the in vitro toxicology testing market include Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Eurofins Scientific (Luxembourg), Laboratory Corporation of America Holdings (US), Charles River Laboratories (US), SGS SA (Switzerland), Bio-Rad Laboratories, Inc. (US), Evotec SE (Germany), Promega Corporation (US), Catalent, Inc. (US), Agilent Technologies, Inc. (US), Intertek Group plc (UK), Revvity (US), Inotiv (US), BioIVT (US), Lonza (Switzerland), Creative Biolabs (US), Shanghai Medicilon Inc. (China), Creative Bioarray (US), Aragen Life Sciences Ltd. (India), Enzo Biochem Inc. (US), Microbac Laboratories, Inc. (US), Vimta Labs Ltd. (India), Pacific BioLabs Inc. (US), and MB Research Laboratories (US).
Recent Developments:
- In March 2023, Agilent Technologies, Inc. (US) acquired e-MSion (US). Through this acquisition, Agilent will integrate the e-MSion’s ExD cell into its portfolio of advanced workflows, instruments, and analytical solutions for biotherapeutic characterization and development.
- In January 2023, Eurofins Scientific expanded its presence in India with the establishment of a new, fully equipped, state-of-the-art laboratory campus in Genome Valley, Hyderabad. The lab will support pharma and biotech companies in the areas of synthetic organic chemistry, analytical R&D, bioanalytical services, in vivo pharmacology, safety toxicology, and formulation R&D.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=209577065
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/in-vitro-toxicology-testing-market-209577065.html