PORTLAND, Oregon, May 7, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Europe Early Toxicity Testing Market by Technique Type (In Vivo, In Vitro, and In Silico), by Application (Drug Discovery, Chemical testing and Others) and End Users (Pharmaceuticals Industry, Food Industry, Chemicals Industry, Cosmetics Industry, and Others): Opportunity Analysis and Industry Forecast, 2018–2025". According to the report, the Europe early toxicity testing market was pegged at $264.84 million in 2017 and is expected to reach $460.11 million by 2025, registering a CAGR of 7.1% from 2018 to 2025.
Increase in R&D activities in healthcare, surge in stringency of regulatory authorities concerning public healthcare welfare, and rise in adoption of in vitro model and early toxicity testing have boosted the growth of the Europe early toxicity testing market. However, the limitations of preclinical testing hamper the market growth. On the contrary, technological advancements in the field of early toxicity testing are expected to create lucrative opportunities in the near future.
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In vitro segment dominates the market
The in vitro segment held the largest share in 2017, contributing nearly half of the total market, as it permits more detailed and convenient analysis. However, the in-silico segment is projected to manifest the fastest CAGR of 9.3% during the forecast period, owing to introduction of artificial intelligence in the field and need for alternative testing method to check toxicity of chemicals. The report includes an in-depth analysis of the in-vivo segment.
Cosmetics industry to manifest the fastest CAGR through 2025
The cosmetics industry segment is expected to register the fastest CAGR of 9.7% during the forecast period. This is pertaining to a recent ban on the sale of cosmetics that had animal-tested, which has boosted the development of in vitro and in silico methods as an alternative to test the toxicity of cosmetics. However, the pharmaceuticals industry segment held the largest share in 2017, contributing nearly three-fourths of the total market. The report includes an in-depth analysis of the segments such as food industry, chemicals industry, cosmetics industry, and others.
Drug discovery segment held lion's share
The drug discovery segment held the largest share in 2017, contributing nearly three-fourths of the total market. However, the chemical testing segment is estimated to manifest a CAGR of 7.7% during the forecast period.
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Major market players
The report includes in-depth analysis of the major market players such as General Electric Company (GE Healthcare), Agilent Technologies, Inc., Evotec AG (Cyprotex), Danaher Corporation (Beckman Coulter, Inc.), Bruker Corporation, Bioanalytical Systems, Inc., PerkinElmer Inc., Thermo Fisher Scientific, Inc., The Jackson Laboratory, and Enzo Biochem, Inc. (Enzo Clinical Labs, Inc.).
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