The global in-vitro toxicology testing market is expected to
reach USD 44.7 billion by 2022 growing at an estimated CAGR of 10.5% from 2015
to 2022, according to a new report by Grand View Research, Inc. This expected
rise in demand can be ascribed to novel and promising technologies in
analytical laboratories.
Advancement in bioinformatics
based research for development of efficient software algorithms in order to
carry out efficient stimulation of in-silico animal models in
determination of toxicological response is expected to influence sector growth
through to 2022.
Full research report on
in-vitro
toxicology testing market: http://www.grandviewresearch.com/industry-analysis/in-vitro-toxicology-testing-market
Furthermore, rapid up gradation
of databases that serve information for toxicity profiling and lethal dose
determination of different compounds is anticipated to create significant
potential for growth in this market during the forecast period.
Rise in government imposed
restrictions and guidelines on usage of animals for pre-clinical research and
toxicology testing is also attributive towards estimated progress in this
industry.
Additionally, increasing
R&D in biotechnology sector for enhancement in cell based assays and cell
culture techniques, is anticipated to impart significant growth potential in
this sector.
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Further key findings
from the study suggest:
·
Pharmaceutical
and cosmetic industry together accounted for almost 65% of total revenue
generated in this sector for 2014. This large share can be attributed to rapid
novel product launches for treatment of different diseased conditions wherein
toxicological testing is the pre-requisite step.
·
Cell culture
technology contributed for over 42% of the revenue generated in the industry
with respect to technology owing to critical role of cell culture in
biotechnological development and cell based analysis
·
Omics technology
is anticipated to register lucrative growth thereby driving demand due to
advancement in sequencing methods and availability of different platforms
depending on source and target sequence.
·
As a fundamental
process in biopharmaceutical or pharmaceutical product development
toxicological testing finds application in determination of systemic, dermal,
& ocular toxicity as well as endocrine disruption
·
Amongst the above
enlisted applications, dermal toxicity is expected to witness significant
progress with a CAGR of approximately 13% due to comparatively higher incidence
of side effects associated with skin after administration of several
compounds.
·
North America
accounted for the largest share of over 45% in revenue in 2014 owing to
presence of significant number of sector players that are implementing advanced
in-vitro technology. Furthermore, presence of stringent regulations pertaining
to animal usage in toxicity analysis attributive towards high demand of in-vitro
tests in this region.
·
Asia Pacific is
expected to witness lucrative CAGR of over 11% from 2015 to 2022 due to rapid
improvement in health care infrastructure in developing economies of this
region which in turn contributes to regional progress in industry.
·
Key participants
of in-vitro toxicology testing industry are Quest Diagnostics, Covance,
Cyprotex, Alere, Inc, Charles River Laboratories, GE Healthcare, Thermo Fisher
Scientific, Eurofins Scientific, Inc., Agilent Technologies, Catalent Pharma
Solutions, Sigma Aldrich, and Bio-Rad.
·
These
participants are involved in collaborations with bioinformatics research firms
in order to develop novel in-silico algorithms for computational
estimation of toxicity of pharmaceutical and chemical products.
·
Moreover, these
market entities are also focusing on entering untapped regions in order to
maintain their share in market revenue.
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About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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