Dublin, Sept. 25, 2023 (GLOBE NEWSWIRE) -- The "Global In-Vitro Toxicology Testing Market by Technology, Method, Application, End-User Industry - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global In-Vitro Toxicology Testing Market is experiencing remarkable growth, with an estimated market size of USD 12.21 billion in 2023, a significant increase from the 2022 valuation of USD 11.07 billion. The market is expected to continue its upward trajectory at a Compound Annual Growth Rate (CAGR) of 10.83% and reach a staggering USD 25.21 billion by 2030.
Market Segmentation & Coverage:
In this comprehensive research report, the Global In-Vitro Toxicology Testing Market is meticulously categorized to forecast revenues and analyze trends in various sub-markets. These sub-markets include:
- Technology: The market is studied across four key technologies - Cell Culture Technology, High Throughput Technology, Molecular Imaging, and OMICS Technology. High Throughput Technology is projected to dominate the market during the forecast period.
- Method: The market is studied across four primary methods - Biochemical Assay, Cellular Assay, Ex-vivo, and In Silico. The Ex-vivo method is expected to witness significant growth during the forecast period.
- Application: Various applications are assessed, including Dermal Toxicity, Endocrine Disruption, Ocular Toxicity, and Systemic Toxicology. Ocular Toxicity is anticipated to secure a substantial market share during the forecast period.
- End-User Industry: The market is segmented into Chemicals, Cosmetic & Household Products, Food, and Pharmaceuticals & Biopharmaceuticals. Pharmaceuticals & Biopharmaceuticals are projected to dominate the market during the forecast period.
- Region: The market covers the Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas held the largest market share of 38.75% in 2022, followed by Europe, Middle East & Africa.
Market Dynamics:
Drivers:
- Rising ethical concerns regarding animal testing.
- Growing acceptance of in-vitro toxicity testing with the evolution of 3D cell culture systems.
- Extensive adoption of in-vitro toxicology assays attributed to safety, cost-savings, and time-saving parameters.
Restraints:
- Lack of standards to establish intricacies of in-vivo conditions.
- Dearth of in-vitro models to study complex endpoints.
Opportunities:
- Rising focus on drug discovery and personalized medicine.
- Growing number of toxicity databases.
Challenges:
- Lack of trained expertise for the procedure.
The Report Provides Insights On:
- Market Penetration
- Market Development
- Market Diversification
- Market Trends
- Competitive Assessment & Intelligence
- Product Development & Innovation
The report answers crucial questions such as:
- What is the market size and forecast of the Global In-Vitro Toxicology Testing Market?
- How is COVID-19 impacting the Global In-Vitro Toxicology Testing Market during the forecast period?
- Where should investors focus their resources in the Global In-Vitro Toxicology Testing Market?
- What is the competitive strategic window for opportunities in the Global In-Vitro Toxicology Testing Market?
- What are the technology trends and regulatory frameworks in the Global In-Vitro Toxicology Testing Market?
- Who are the leading vendors in the Global In-Vitro Toxicology Testing Market, and what is their market share?
- What modes and strategic moves are suitable for entering the Global In-Vitro Toxicology Testing Market?
Key Attributes of the Report:
- No. of Pages: 182
- Forecast Period: 2023 - 2030
- Estimated Market Value (USD) in 2023: $12.21 Billion
- Forecasted Market Value (USD) by 2030: $25.21 Billion
- Compound Annual Growth Rate: 10.8%
- Regions Covered: Global
With the Global In-Vitro Toxicology Testing Market on a growth trajectory, the future looks promising for stakeholders, businesses, and investors. The market's expansion is driven by technological advancements, ethical considerations, and a growing focus on safety and cost-effectiveness.
Companies Mentioned
- Alere Inc. Abbott Laboratories
- Bio-Rad Laboratories, Inc.
- BioIVT LLC
- Charles River Laboratories International, Inc.
- Creative Bioarray
- Eurofins Panlabs, Inc.
- Evotec SE
- Gentronix Limited
- HD Biosciences Co., Ltd.
- InSphero AG
- Laboratory Corporation of America Holdings
- Merck KGaA
- Promega Corporation
- SGS SA
- Thermo Fisher Scientific Inc.
For more information about this report visit https://www.researchandmarkets.com/r/t9r0xn
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