In-Vitro Toxicology Testing Market Size Expected to Reach USD 18.43 Billion in 2032 with CAGR of 8.3% | Reports and Data

Market– USD 8.99 Bn in 2022, CAGR of 8.3%, Development of cutting-edge technologies, such as 3D cell culture models and high-throughput screening procedures

NEW YORK, NY, UNITED STATES, March 24, 2023 /EINPresswire.com/ -- The demand for safer and more cost-effective alternatives to animal testing in the food, cosmetics, and pharmaceutical sectors is a major factor driving market revenue growth. In addition, the use of in-vitro toxicology testing is gaining popularity as people become more concerned about the harmful effects of chemicals on both human health and the environment.

The global In-Vitro Toxicology Testing Market size was USD 8.99 Billion in 2022 and is expected to register a revenue CAGR of 8.3% over the forecast period, according to the latest report by Reports and Data.

Advanced technologies such as 3D cell culture models and high-throughput screening approaches are promoting the acceptability of in-vitro toxicity testing. This is because they enable researchers to obtain more precise and dependable data on the toxicity of chemicals, thereby reducing the reliance on animal testing. Furthermore, the automation of systems and data analysis tools is expanding the industry.

The pharmaceutical industry is currently the leading consumer of in-vitro toxicity testing due to regulatory requirements and growing concerns for drug safety. Meanwhile, the cosmetics industry also heavily relies on these procedures as a more ethical alternative to animal testing. Additionally, the food industry utilizes in-vitro toxicity testing to ensure the safety of food additives, preservatives, and packaging materials. As a result, market revenue is expected to increase in the forecast period.

North America is currently at the forefront of the global market for in-vitro toxicity testing, followed closely by Europe and the Asia Pacific region. The high concentration of pharmaceutical and biotechnology companies in North America and Europe has resulted in an increased demand for in-vitro testing. The Asia Pacific region is expected to experience the most significant growth during the forecast period due to increased investments in research and development and growing awareness of the advantages of in-vitro testing.

Some of the prominent players profiled in the global in-vitro toxicology testing market include Thermo Fisher Scientific Inc., SGS SA, Eurofins Scientific, Charles River Laboratories International, Inc., Catalent, Inc., WuXi AppTec Group, Merck KGaA, Evotec SE, Cyprotex, and Bio-Rad Laboratories, Inc.

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Some Key Highlights from the Report

• The assay industry is expected to generate the highest revenue in the coming years. Assays are scientific investigations that evaluate the effectiveness of a chemical substance against specific molecular targets. They are commonly used in in-vitro toxicology testing as they help to identify potential negative effects without the use of animals. Moreover, assays can be conducted in a fast and user-friendly manner, enabling the rapid analysis of a broad range of compounds. These factors are predicted to be the driving force behind the segment's revenue growth.
• Over the forecast period, the pharmaceutical industry is anticipated to hold the largest share of revenue in the in-vitro toxicology testing market. This growth is due to the rising demand for new and innovative treatments, as well as the increased need for drug safety testing. In the drug development process, in-vitro toxicology testing is commonly used to detect potential harmful effects and ensure the safety of new treatments. The adoption of in-vitro testing technologies is also contributing to revenue growth in the pharmaceutical sector, as these methods provide cost savings and faster results. Overall, these factors are driving the growth of the pharmaceutical segment in the in-vitro toxicology testing market.
• During the forecast period, North America is expected to dominate the in-vitro toxicology testing market in terms of revenue share. This can be attributed to several factors, such as the stringent regulations imposed by authoritative bodies like the FDA and EPA in the US, mandating in-vitro testing for assessing the safety of drugs and chemicals. Moreover, the increasing research and development activities carried out by pharmaceutical and biotechnology companies, rising adoption of in-vitro testing methods, and a growing preference for non-animal testing alternatives also contribute to the market's growth in the region. The market revenue growth in this area is expected to be driven by the development of cutting-edge technologies such as organs-on-chip and high throughput screening techniques, as well as the presence of significant market competitors.
• In 2021, SGS SA acquired the Life Science Services division of Novagreen Biotechnology Co., Ltd. This acquisition aimed to bolster SGS's biologics testing capabilities in China and enhance its position in the Chinese market.
• In 2020, Eurofins Scientific unveiled a novel 3D in-vitro model for evaluating the harmful effects of chemicals and medicines. Furthermore, the company expanded its in-vitro toxicity testing capacity by opening a new laboratory in France.

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For the purpose of this report, Reports and Data has segmented the global in-vitro toxicology testing market on the basis of Product Type Outlook, Technology Outlook, End-Use Outlook and Regional Outlook:

Product Type Outlook (Revenue, USD Billion; 2022 - 2032)

Assays
Reagents & Consumables
Services
Software
Others

Technology Outlook (Revenue, USD Billion; 2022 - 2032)

Cell-based Assays
Biochemical Assays
In Silico Toxicology
Ex-vivo Models
Others

End-Use Outlook (Revenue, USD Billion; 2022-2032)

Food Industry
Cosmetics & Household Products
Pharmaceutical Industry
Chemical Industry
Others

Regional Outlook (Revenue, USD Billion; 2019-2032)

North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Key Advantages of In-Vitro Toxicology Testing Report:

• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the In-Vitro Toxicology Testing industry
• Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
• SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations

Table of Content

1. Market Synopsis
1.1. Market Definition
1.2. Research Scope And Premise
1.3. Research Methodology
1.4. Market Estimation
2. Executive Summary
2.1. Summary Snapshot, 2022 - 2032
3. Indicative Metrics
4. In-Vitro Toxicology Testing Market Segmentation & Impact Analysis
4.1. In-Vitro Toxicology Testing Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market Indicators Analysis
4.2.2. Market Drivers Analysis
4.2.3. Market Restraints Analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Etop Analysis
4.6. Porter’s Five Forces Analysis
4.7. Price Trend Analysis
4.8. Customer Mapping
4.9. Covid-19 Impact Analysis
4.10. Global Recession Influence

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Conclusively, all aspects of the In-Vitro Toxicology Testing market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

Nikhil Morankar
Reports and Data
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