Global In Vitro Toxicology Testing Market is valued at approximately USD $ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2029. In Vitro Toxicology Testing is used to test hazardous compounds on an organism that has been isolated. It is majorly used to identify or detect the toxicity and effects of harmful chemicals in products such as cosmetics, additives, medications, and so on.
It can be used to measure drug absorption, metabolism, excretion, dosage response, threshold response, and so on. The In Vitro Toxicology Testing market is expanding because of factors such as rising government focus on toxicology research, stringent laws, and opposition to animal testing.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
According to the CSIR Indian Institute of Toxicology Research in 2020, the Indian government is more aware of the research and development activities in toxicology.
It includes government funding and various programs such as In vitro evolution of mRNA cleaving deoxyribozymes: analysis of anticancer activity and modifications of evolved DNAzyme/s for higher efficacy in vitro and in vivo by Dept of Biotechnology, New Delhi. Whereas the rising awareness towards testing across end-user industries and growing technological advancement in bacterial testing are creating lucrative opportunities for the market. However, the lack of in vitro models hampers the market growth in the forecast period.
The key regions considered for the Global In Vitro Toxicology Testing Market study includes Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific dominated the market in terms of revenue, owing to the rising consumer awareness towards product safety, emergences of CRO, and so on. Whereas the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising pharmaceutical drug pipeline and opposition to animal testing which pushes the adoption of other substitutes.
Major market players included in this report are:
Merck KGaA
Charles River Laboratories
Bio-Rad Laboratories, Inc.
Abbott
Thermo Fisher Scientific Inc.
Catalent, Inc.
GE Healthcare
Quest Diagnostics Incorporated
Eurofins Scientific
Laboratory Corporation of America Holdings
Recent Developments in the Market:
In October 2018, SGS SA has launched new in-vitro testing which has the development capabilities of present cells/tissues and flows cytometry mass spectrometry facilities, equipped with high throughput screening, multiplexing technologies, automation and so on.
In August 2019, Abbott signed an agreement with Intoximeters in which Intoximeters received exclusive distribution rights to Abbott’s SoToxa Mobile Test System, a handheld oral fluid solution for drug and alcohol testing in the United States, Methamphetamine, benzodiazepines, amphetamine, cocaine, cannabis (THC), and opiates can all be tested using this product.
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Global In Vitro Toxicology Testing Market Report Scope:
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Technology, Application, End-use, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Technology:
Cell Culture
High Throughput
Molecular Imaging
OMICS Technology
By Application:
Dermal Toxicity
Endocrine Disruption
Occular Toxicity
Others
By End-use:
Diagnostics
Chemical Industry
Food Industry
Pharmaceutical Industry,
Cosmetic & Household Products,
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
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ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
The following are the market elements blanketed in this report:
Important Market Strategic Developments:
The lookup covers the primary strategic market developments, such as R&D, M&A, agreements, new product launches, collaborations, partnerships, joint ventures, and regional enlargement of the main opponents working in the market on a countrywide and worldwide level.
Key Market Features in Global Market:
The record assessed key market features, consisting of revenue, capacity, price, ability utilization rate, manufacturing rate, gross, production, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. The learn about additionally provides a thorough evaluation of the most necessary market elements and their most current developments, as nicely as pertinent market segments and sub-segments.
Analysis’s Key Market Indicators & Method
Using a range of analytical methodologies, the learn about makes use of in-depth lookup and contrast to current data on the main market gamers and their function inside the industry. Analytical techniques, such as Porter’s 5 forces analysis, feasibility studies, SWOT analyses, and ROI analyses have been used to take a look at the improvement of the primary market players.
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