Early Toxicity Testing Market to Grow At CAGR of 7.8% Forecast 2018-2023

Early Toxicity Testing Market Overview
Toxicity is an extent to which a chemical substance or a particular mixture of substances can damage a living organism. During the drug development of the diseases, it has been observed that nearly 28% of the drugs are failing in the later stages of the development causing huge financial losses in the pharmaceutical, food and other industries. So, to avoid this situation, early toxicity testing is implemented in which different types of toxic tests are conducted to remove the toxic substance in the early stages reducing the risk of late stage failure.

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The primary factor driving the global early toxicity testing market is early toxicity tests helps in the decrease the risk of drug failure in the later stages of the disease. Other factors include increased investment in the R&D of toxic tests to develop new cell assays methods, growing awareness of the regulatory authorities, rise in the demand for early toxicity testing, technology advancements in the biotechnology and the favorable government funding in the biotech sector. However, side-effects like skin irritation, lack of awareness about toxicity and stringent government rules will hamper the market growth.

Early Toxicity Testing Market Forecast Report (2018-2023)
Early Toxicity Testing Market was worth USD 769.18 million in 2018 and estimated to be growing at a CAGR of 7.8%, to reach USD 1119.75 million by 2023.

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Early Toxicity Testing Market Segmentation
The Global Early Toxicity Testing Market is segmented on the basis of technique, assays, end-user and region. Depending on the technique, the market is segmented into In-vitro, In-vivo and In-Silico. In-vitro technique is further segmented into carcinogenicity, dermal toxicity, skin sensitization and irritation, systemic toxicity, ocular toxicity, neurotoxicity, organ toxicity, genotoxicity, and others. On the basis of assays, the market is segmented into cell-based ELISA and western blots, enzyme toxicity assays, receptor binding assays, bacterial toxicity assays, tissues culture assays and others. Based on the end-user, the market is segmented into pharmaceutical, food and beverages, chemical industry, diagnostics, cosmetics and others.

On the basis of geography, the global market is analyzed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. North America is expected to have the largest revenue followed by the Europe due to the rise in the healthcare infrastructure, favorable government funds in the healthcare sector and presence of large pharmaceutical companies in this region. However, Asia-Pacific is expected to have the highest CAGR in the coming years owing to the rise in disposable income and growing demographics.

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Major Players:
The major companies dominating this market for its products and services are
• Covance,
• Thermo Fisher Scientifics,
• Quest Diagnostics Corporation,
• Agilent Technologies,
• Sigma Aldrich,
• BD Biosciences,
• Bio-Rad,
• Gene Logic,
• Accelrys
• Charles River Laboratories.

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This release was published on openPR.