New York, USA, Aug. 08, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global non-animal alternative testing market is anticipated to generate a revenue of $29,390.3 million and grow at a CAGR of 13.48% during the analysis period from 2021 to 2030.
As per our analysts, the increasing prevalence of chronic diseases among individuals has increased the need for drug discovery and drug development which is expected to bolster the growth of the non-animal alternative testing market over the forecast period. Besides, the increasing initiatives taken by end-use industries and organizations associated with government agencies to provide funding for the development of alternative technologies for testing drugs are further predicted to uplift the growth of the market over the estimated period. Moreover, the development of product portfolios by major companies is expected to propel the growth of the market during the analysis period. However, the lack of awareness about the use of non-animal alternative testing among researchers may impede the growth of the market over the forecast timeframe.
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Segments of the Non-animal Alternative Testing Market
The report has divided the market into segments based on technology, method, end-user industry, and region.
Technology: Cell Culture Technology Sub-Segment to be Most Productive
The cell culture technology sub-segment is projected to generate a revenue of $11,025 million during the forecast period. The increasing use of cell culture technologies by researchers to assess a lot of test findings at once is expected to augment the growth of the market sub-segment over the estimated period.
Method: Cellular Assay Sub-Segment to be Most Lucrative
The cellular assay sub-segment is expected to garner a revenue of $12,004.7 million over the forecast timeframe. The increasing demand for researching and examining a significant volume of human cellular data during pre-clinical studies is predicted to fuel the growth of the non-animal alternative testing market sub-segment during the analysis period.
End-User Industry: Pharmaceutical Industry Sub-Segment to be Most Lucrative
The pharmaceutical industry sub-segment is predicted to generate a revenue of $13,621.5 million during the analysis period. This is mainly because the pharmaceutical industry continuously carries out various research and development efforts to create new medications for a variety of ailments. Furthermore, many leading firms are employing silico drug testing techniques to avoid any form of ethical issue regarding the use of animals during drug testing is expected to boost the growth of the market sub-segment over the forecast period.
Region: North America Region to Have Expansive Growth Opportunities
The North America region of the non-animal alternative testing market is projected to rise at a CAGR of 12.85% during the estimated period. This is mainly due to the strong presence of leading non-animal alternative testing companies in this region. Moreover, the increasing aging population in this region and the rising prevalence of chronic diseases among them is expected to drive the regional growth of the market over the analysis period.
Covid-19 Impact on the Non-animal Alternative Testing Market
The outbreak of the Covid-19 pandemic has had a positive impact on the non-animal alternative testing market due to the rapid increase in the demand for medicines during the pandemic period. Moreover, many drug developers denied working in direct contact with animals and humans during pre-clinical trials during the pandemic which boosted the growth of the market during the period of crisis. In addition, the increasing need for the development of a vaccine has promoted alternative methods of testing drugs rather than testing on animals. All these factors have inclined the growth of the market during the pandemic.
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Key Players of the Market
The major players of the non-animal alternative testing market include
- Emulate, Inc.
- MB Research Laboratories
- TARA Biosystems, Inc.
- Biovit
- Bio-Rad Laboratories
- Evotec SE
- Abbott Hurel Corporation
- Evotec SE
- TissUse GmbH
- VITROCELL Systems GmbH
These players are broadly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to gain a leading position in the global industry.
For instance, in August 2021, EPA, an independent executive agency of the United States federal government tasked with environmental protection matters announced its collaboration with Unilever, a British multinational consumer goods company. With this collaboration, the companies aimed to explore better approaches to assessing chemical risks associated with consumer products. The companies planned to develop New Approach Methods (NAMs) to provide an alternative to conventional toxicity testing for reducing reliance on the use of animals.
In addition, the report also summarizes other important aspects including product portfolio, the financial performance of the key players, SWOT analysis, and the latest strategic development.
More about Non-animal Alternative Testing Market:
- Significance of Non-Animal Alternative Testing Methods
- Non-animal Alternative Testing Market to Observe Significant Growth Due to Technological Advancements and Company Acquisitions by Market Players, such as CELLINK, SenzaGen AB, and Others
