In-Vitro Toxicity Testing Market to See Stunning Growth: Covance, Abbott, Cyprotex
Published Via 11Press : According to HTF Market Intelligence, the market for In-Vitro Toxicity Testing is expected to register a CAGR of 15.1% during the forecast period to 2029.
In-Vitro Toxicity Testing Industry Background: The technique known as “in vitro” helps with the analysis of dangerous substances over the isolated area of the organism. When developing novel items like pharmaceuticals, cosmetics, and food additives, it is utilized to find chemical components that have the potential to be harmful and helps with the early detection of toxicity. The main purpose of in vitro toxicity testing (IVTT) is to rank chemicals in terms of potency and safety while developing new medications. The drug’s ADME, dose response, threshold response, metabolism, and excretion can all be determined through in vitro toxicity studies. In-vitro toxicity testing’s market growth rate will be significantly accelerated by the expansion of R&D activities. An important factor in the market’s expansion is the 3D cell culture technology’s continuing development. The principal elements fostering market expansion also include the abolition of animal testing and rising environmental concerns. The market’s growth rate will also profit from an increase in government research funding and from more benevolent reimbursement policies for the creation of automated and technologically advanced laboratory analytical equipment. Due to rising medical expenses, rapid urbanization, and rising disposable incomes in both developing and developed countries, the market for in-vitro toxicity testing will expand more slowly.
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Major Companies Featured in This Report
- Abbott (United States)
- Covance (United States)
- GE Healthcare (United States)
- Quest Diagnostics, Inc. (United States)
- Thermo Fisher Scientific, Inc. (United States)
- Bio-Rad Laboratories (United States)
- Catalent Pharma Solutions (United States)
- Cyprotex (Germany)
- Agilent Technologies (United States)
- Charles River Laboratories (United States)
By Type
- Absorption
- Toxic Substances
- Dose
By Application
- Systemic Toxicology
- Dermal Toxicity
- Endorine Disruption
- Occular Toxicity
- Others
Major Developments Activities in the Market:
A laboratory with a location in Gosport named Wickham Micro was purchased by Limerston Capital in February 2022 after nearly 60 years of providing vitro toxicity services to the pharmaceutical and medical device industries. By making investments in Wickham Laboratories’ infrastructure, personnel, and technological infrastructure as well as by looking into new market opportunities, Limerston Capital intends to support the company’s growth. With the acquisition, Wickham Laboratories should be able to broaden its product range and geographic reach while still continuing to offer its clients high-quality testing services.
Regulatory Insights:
The US Environmental Protection Agency (EPA) released a final rule in August 2021 under the Toxic Chemicals Control Act (TSCA) requiring manufacturers to submit more details on the potential health impacts of certain chemical chemicals, including in-vitro test results.
Influencing Trend:
In-vitro testing is a growing industry around the world, and artificial intelligence (AI) utilization is the newest trend in this sector. Large datasets created by in-vitro testing can be analyzed by AI algorithms to forecast therapeutic efficacy or toxicity, making the process of developing new pharmaceuticals more successful and efficient. Furthermore, 3D cell culture models are gaining popularity because they more closely resemble the physiological environment of cells than conventional 2D models, which can produce results in in-vitro testing that are more precise and dependable. A further development in the market for in-vitro toxicity testing is the utilization of organ-on-a-chip technology. With this technology, miniature, three-dimensional organ models that behave like the real thing can be made utilizing microfluidics.
Market Growth Drivers:
A growing focus on drug research and development, an increase in the prevalence of chronic diseases, expanding in-vitro testing market demand, and technical improvements are all driving forces. Concerns about ethics and regulations have increased the demand for in-vitro testing, and pharmaceutical and biotech companies are investing in in-vitro testing techniques to assess prospective medication ideas. A further factor boosting demand for in-vitro testing is the rising incidence of chronic diseases, which is leading to the development of new diagnostic and therapeutic approaches. Growth in the market is also being fueled by the creation of more advanced and precise in-vitro testing techniques.
Challenges:
The primary factors impeding the growth of the global in-vitro testing market are the high cost of in-vitro testing products and services, the absence of standardization and validation of in-vitro testing procedures, ethical issues with using animals in testing, and a lack of technical expertise and infrastructure. There may be a barrier to entry for some businesses and researchers due to the high cost of in-vitro testing tools and services. Furthermore, to guarantee that the outcomes are accurate and trustworthy, in-vitro testing procedures need to be validated and standardized. On common protocols and validation procedures, however, for several in-vitro testing techniques, there is still no agreement. In addition, even though in-vitro testing can lessen the necessity for animal testing, certain stakeholders continue to have ethical reservations about using animals in testing. In some markets, this may be a constraint for in-vitro testing method growth. In-vitro testing additionally needs specialized technical infrastructure and know-how, which might not be accessible in all locations or to all businesses. In some markets, in-vitro testing expansion may be constrained as a result.
| Study Period | 2018-2029 |
| Base Year | 2022 |
| Unit | Value (USD Million) |
| Companies Profiled | Thermo Fisher Scientific, Inc. (United States) Covance (United States) GE Healthcare (United States) Abbott (United States) Quest Diagnostics, Inc. (United States) Bio-Rad Laboratories (United States) Catalent Pharma Solutions (United States) Cyprotex (Germany) Agilent Technologies (United States) Charles River Laboratories (United States) |
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In Light of This Challenging Background, In-Vitro Toxicity Testing Study Provides Information on
— The state of the industry and its distinguishing features for in vitro toxicity testing. To put an end to this, analysts at HTF Market Intelligence organized and conducted surveys of the companies involved in vitro toxicity testing. The resulting snapshot provides a platform for understanding the reasons behind and potential changes in the industry.
— The direction and growth rate of the in vitro toxicity testing market. Financial analysis, polls, and industry consultants are used to derive insights.
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