New York, USA, March 30, 2022 (GLOBE NEWSWIRE) -- A new report on the global non-animal alternative testing market has been added by Research Dive to its repository. According to the report, the global market is expected to hit $29,390.20 million by 2030, rising at a striking CAGR of 13.0% from 2021 to 2030. This report is an in-depth study offering meticulous insights into the present situation and future scope of the global industry. The report is drafted by expert market analysts and assures to be a reliable source of data and comprehensive market insights for new market players, investors, prevalent players, stakeholders, shareholders, etc.
Impact of COVID-19 Pandemic on the Non-Animal Alternative Testing Market:
The abrupt rise of COVID-19 pandemic in 2020 has had an optimistic impact on the growth of the global non-animal alternative testing market. The pandemic has greatly affected the health and wellbeing of several people worldwide. Moreover, numerous scientists have limited themselves from functioning in a wet laboratory and restricted themselves from being in contact with either humans or animals at time of pre-clinical testing of drugs. This factor has augmented the usage of alternatives for animals testing methods such as microarrays which needs least human contact. All these factors are greatly fueling the growth of the non-animal alternative testing market amidst the pandemic period.
Factors Impacting the Non-Animal Alternative Testing Market Growth:
The key factor boosting the growth of the global non-animal alternative testing market is the rising cases of chronic ailments, such as viral infections, amongst millennial owing to factors such as unhealthy eating habits. Furthermore, growing investments by market players into enhancement of prevailing non-animal alternative testing products and novel product developments is projected to open doors to beneficial opportunities for the growth of the market in the forecast period. However, dearth of awareness and knowledge about non-animal alternative testing techniques, as it is an emerging concept, is expected to obstruct the market growth.
The report segments the global non-animal alternative testing market into technology, method, end-user, and region.
Cell Culture Technology Sub-Segment to Experience Remarkable Growth
Among the technology segment, the cell culture technology sub-segment is expected to grab highest market share and surpass $11,156.80 million during the forecast period. The growth of this sub-segment is mostly because of the rising demand for cell culture technology among researchers for analyzing huge number of test outcomes in one attempt.
Region Dominating the Non-Animal Alternative Testing Market Industry - Connect with Expert Analyst
Cellular Assay Sub-Segment to Witness Maximum Growth
Among the method segment, the cellular assay sub-segment is projected to grab foremost market share and garner $12,369.50 million during the estimated timeframe. This is mostly because of the growing demand for cellular assay method for examining huge quantity of human cellular information during pre-clinical trials.
Pharmaceutical Industry Sub-Segment to Observe Highest Growth
Among the end-user segment, the pharmaceutical industry sub-segment is projected to grab leading market share and surpass $13,993.80 million during the estimated timeframe. This is mostly because of the rising research and development activities by the drug development companies to develop novel drugs for numerous ailments.
Asia-Pacific Non-Animal Alternative Testing Market to Observe Rapid Growth
The report analyzes the global non-animal alternative testing market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the Asia-Pacific region market is estimated to observe accelerated growth and hit $4,761.20 million in the forecast period. The growth of the region market is mainly because of the rising prohibition on animal usage for pre-clinical testing owing to increasing ethical problems on animal cruelty. Also, growing investments by market players into novel developments is boosting the regional market growth.
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Key Players of the Non-Animal Alternative Testing Market
The report lists some of the foremost players operating in the global non-animal alternative testing industry market such as
- Evotec
- Tara Biosystems
- Hurel Corporation
- Emulate, Inc.
- Bio- Rad
- Abbott Laboratories
- Tissues GmbH
- Biovit
- MB Research Laboratory
- Vitrocell Systems GMBH
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. For instance, in October 2021, the European Medicines Agency (EMA), an agency of the European Union (EU) in charge of the evaluation and supervision of medicinal products, proclaimed that it will be offering special support to aid drug inventors to use alternative methods to animal testing through its Innovation Task Force (ITF).
Report Overview Along with Full TOC
Other Related links:
Significance of Non-Animal Alternative Testing Methods
