The Global In Vitro Toxicology Testing Market is Poised for Exponential Growth and is Expected to Reach USD 64,094.9 Million by 2030 | Infinium Global Research
PUNE, India, Oct. 12, 2023 /PRNewswire/ -- Infinium Global Research, a leading market research firm, has recently unveiled an extensive report on the In Vitro Toxicology Testing Market, offering a comprehensive analysis of market segments and sub-segments on both a global and regional scale. The report not only delves into the impacts of drivers, restraints, and macro indicators on the global and regional in vitro toxicology testing market but also provides insights into the short and long-term market dynamics.
The in vitro toxicology testing market has been experiencing remarkable growth in recent years. In 2022, the market was valued at USD 25,962.7 million. Infinium Global Research's latest findings project that it will surge to an impressive USD 64,094.9 million by 2030, accompanied by an outstanding Compound Annual Growth Rate (CAGR) of 10.4% during the forecast period from 2023 to 2030.
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Driving Factors for Market Growth
The burgeoning in vitro toxicology testing market is fuelled by several pivotal factors:
- Government and Organizational Support: Governments and organizations worldwide are lending strong support to the movement to avoid animal testing. Additionally, funding, grants, and financial backing have been provided to bolster research and development in alternative testing methods. This support aims to advance the field of in vitro testing, enhance its capabilities, and encourage industries to adopt these humane and innovative methods.
- Rising Demand for Toxicology Testing Products: Industries spanning pharmaceuticals, cosmetics, chemicals, and consumer products are actively seeking reliable and efficient testing solutions to ensure the safety of their products. The increasing demand for toxicology testing products propels the growth of the in vitro toxicology testing market.
Challenges and Opportunities
While the market shows immense promise, it faces certain challenges:
- Shortage of Skilled Workers: A shortage of skilled professionals is a major constraint for the global in vitro toxicology testing market. This field requires a wide range of skills, including technical skills, analytical skills, and observational skills.
Nonetheless, technological advancements in in vitro toxicology testing products create opportunities for companies operating in the market. Innovations such as 3D cell culture models and high-throughput screening enable companies to develop cutting-edge products and services for consumers.
Geographical Insights
Among the geographical regions, North America is poised to retain a significant share of the market. Factors such as technological advancements and government support have accelerated the development of innovative and cost-effective testing methods in North America. The region has witnessed substantial investments in research and development, driving the adoption of in vitro toxicology testing for assessing the safety of drugs, devices, chemicals, and cosmetics.
Conversely, the Asia Pacific region is projected to exhibit the highest growth rate in the market. Government incentives for technology and development, coupled with rising healthcare expenditure, are pivotal drivers of market growth in this region. Government organizations in the Asia Pacific actively promote in vitro toxicology testing methods and encourage their adoption. The growing focus on safety assessments and the increasing demand for reliable testing methods in industries such as pharmaceuticals, cosmetics, and chemicals contribute to the market's robust growth in the Asia Pacific.
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Market Segmentation
The comprehensive report on the global in vitro toxicology testing market covers various segments:
- Technology: Sub-markets include cell culture technology, high throughput technology, molecular imaging, and omics technology.
- Application: Sub-markets encompass systemic toxicology, dermal toxicity, endocrine disruption, ocular toxicity, and others.
- Method: Sub-markets include cellular assay, biochemical assay, in silico, and ex-vivo.
Competitive Landscape
The report provides profiles of the companies in the market such as Charles River Laboratories, SGS Société Générale de Surveillance SA., Thermo Fisher Scientific Inc., Eurofins Scientific, Merck KGaA, Cyprotex, Gentronix, Abbott Laboratories, Evotec SE, and Agilent Technologies, Inc.
The global in vitro toxicology testing market is primed for substantial growth, driven by increasing government support, rising demand for toxicology testing products, and technological advancements.
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Table of Content
Chapter 1. Preface
1.1. Report Description
1.2. Research Methods
1.3. Research Approaches
Chapter 2. Executive Summary
2.1. In Vitro Toxicology Testing Market Highlights
2.2. In Vitro Toxicology Testing Market Projection
2.3. In Vitro Toxicology Testing Market Regional Highlights
Chapter 3. Global In Vitro Toxicology Testing Market Overview
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.3. Porter`s Five Forces Analysis
3.4. IGR-Growth Matrix Analysis
3.4.1. IGR-Growth Matrix Analysis by Technology
3.4.2. IGR-Growth Matrix Analysis by Application
3.4.3. IGR-Growth Matrix Analysis by Method
3.4.4. IGR-Growth Matrix Analysis by Region
3.5. Value Chain Analysis of In Vitro Toxicology Testing Market
Chapter 4. In Vitro Toxicology Testing Market Macro Indicator Analysis
Chapter 5. Company Profiles and Competitive Landscape
5.1. Competitive Landscape in the Global In Vitro Toxicology Testing Market
5.2. Companies Profiles
5.2.1. Charles River Laboratories
5.2.2. SGS Société Générale de Surveillance SA.
5.2.3. Thermo Fisher Scientific Inc.
5.2.4. Eurofins Scientific
5.2.5. Merck KGaA
5.2.6. Cyprotex
5.2.7. Gentronix
5.2.8. Abbott Laboratories
5.2.9. Evotec SE
5.2.10. Agilent Technologies, Inc.
Chapter 6. Global In Vitro Toxicology Testing Market by Technology
6.1. Cell Culture Technology
6.2. High Throughput Technology
6.3. Molecular Imaging
6.4. OMICS Technology
Chapter 7. Global In Vitro Toxicology Testing Market by Application
7.1. Systemic Toxicology
7.2. Dermal Toxicity
7.3. Endocrine Disruption
7.4. Ocular Toxicity
7.5. Others
Chapter 8. Global In Vitro Toxicology Testing Market by Method
8.1. Cellular Assay
8.2. Biochemical Assay
8.3. In silico
8.4. Ex-vivo
Chapter 9. Global In Vitro Toxicology Testing Market by Region 2023-2030
9.1. North America
9.2. Europe
9.3. Asia Pacific
9.4. RoW
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of in vitro toxicology testing.
=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.
=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.
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