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Dublin, Feb. 12, 2020 (GLOBE NEWSWIRE) -- The "In-Vitro Toxicology/Toxicity Testing Market by Product & Services, Toxicity Endpoint & Test (Carcinogenicity, Dermal Toxicity), Technology (Cell-based, HTS), Method (Cellular Assays), Industry (Pharmaceutical, Cosmetics), Region-Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The In-Vitro Toxicology Testing Market is Expected to Reach USD 12.7 Billion by 2024 from an Estimated USD 8.1 Billion in 2019, at a CAGR of 9.3%.

The opposition to animal testing, technological advancements, and increasing R&D expenditure to detect toxicity at an early stage during drug development are the primary growth factors for this industry.

The increasing focus of the pharmaceutical and cosmetics industries on using in-vitro methods for product testing along with the improvement in silico methods for predictive toxicology studies are expected to offer significant growth opportunities for players in this market. However, the dearth of skilled professionals is a substantial market challenge.

The software segment is expected to grow at the highest rate during the forecast period.

Based on the product & service, the in-vitro toxicology testing market is segmented into consumables, assays, equipment, software, and services. The software segment is projected to witness the highest growth in the in-vitro toxicology testing market during the forecast period.

Growth in this segment is driven mostly by the rising number of new technologies to develop in-vitro signatures and computational models capable of predicting in vivo responses. Also, the increasing use of the latest software in the industry and the academia to predict toxicity by comparing the data of new substances with other structurally or biologically similar compounds, are expected to drive the growth of this segment.

The ADME segment is expected to account for the largest market share in 2018.

Based on toxicity endpoints & tests undertaken across all industries, the in-vitro toxicity testing market is segmented into ADME; skin irritation, corrosion, and sensitization; genotoxicity; cytotoxicity; ocular toxicity; organ toxicity; phototoxicity; dermal toxicity; and other endpoints & tests. The ADME segment accounted for the largest share of the in-vitro toxicity testing market in 2018. This can be attributed to the high adoption during the drug development process with the advantage of producing highly reproducible & accurate data.

Toxicogenomics is expected to grow at the highest rate during the forecast period.

The toxicogenomics segment is expected to grow at the highest CAGR during the forecast period, primarily due to the technological advancements taking place in the field of proteomics and genomics. Also, the improvements in proteomic technologies are enhancing the study of gene & protein activity during toxicity analysis. Technological advancements taking place in the field of proteomics and genomics will further drive the growth of this segment in the coming years.

Europe is expected to hold the largest share for players operating in the in-vitro toxicology testing market.

Europe accounted for the largest share of the in-vitro toxicology testing market in 2018. Factors such as high adoption of in-vitro toxicology testing assays and services in the cosmetics and chemical industries after the ban on animal testing in the region are among the few factors expected to contribute to the growth of this market.

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Market Dynamics

Market Drivers

Opposition to Animal Testing

Technological Advancements

R&D Toward Early Stage Toxicity Detection

Market Restraints

Reluctance of Regulatory Authorities to Consider Alternative Methods for Proving Safety and Efficacy

Failure to Establish the Intricacies of in Vivo Conditions, In Vitro

Lack of In Vitro Models to Study Complex Endpoints

Market Opportunities

Market Challenges

Company Profiles

Bio-Rad Laboratories, Inc.

Bioivt

Catalent, Inc.

Charles River Laboratories International, Inc.

Covance, Inc.

Creative Bioarray

Creative Biolabs

Cyprotex PLC

Eurofins Scientific SE

GE Healthcare

Gentronix Limited

GVK Biosciences Private Limited

Insphero

MB Research Laboratories

Merck KGaA

Promega Corporation

Qiagen N.V.

SGS S.A.

Shanghai Medicilon Inc.

Thermo Fisher Scientific, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/gea7u2

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In-Vitro Toxicology/Toxicity Testing Market Trends, 2019-2024 - Increasing Focus on Drug Discovery and Personalized Medicine Using In Vitro Methods -...

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