In Vitro Toxicology Testing Market Worldwide Major Growth by Leading Key Players : Agilent Technologies, Inc., BioReliance, Inc., Alere, Inc., Charles River Laboratories International, Inc.

In Vitro Toxicity Testing Market is Expected to Reach $7.81 Billion, Globally, by 2022 at 15.07% CAGR, Says Allied Market Research

Allied Market Research recently published a report, titled, “In Vitro Toxicity Testing Market (By Type: Absorption, Toxic Substances, and Dose; End Users: Cosmetics and Household Products, Pharmaceutical Industry, Food Industry, and Chemical Industry) - Global Opportunity Analysis and Industry Forecast, 2014-2022”. According to the report, the global In Vitro Toxicity Testing Market was pegged at $3.37 billion in 2016, and is expected to reach $7.81 billion by 2022, registering CAGR of 15.01% during the forecast period 2016–2022.

The key players profiled in this report include Agilent Technologies, Inc., BioReliance, Inc., Alere, Inc., Charles River Laboratories International, Inc., General Electric Company, Covance, Inc., Catalent, Inc., Eurofins Scientific, Bio-Rad Laboratories, Inc., and Thermo Fisher Scientific, Inc. There are other players in the in vitro toxicity testing market, which include Cyprotex plc, Accelrys, Inc., Molecular Toxicology Inc., MatTek Corporation, Xenometrix AG, and Quest Diagnostics Incorporation.

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Increased awareness regarding environment welfare, rise in global illicit drug abusers, and frequent need for replacement of in vitro models have boosted the growth of the global in vitro toxicity testing market. However, reduction in adoption rate in vitro toxicity testing methods and incapability of in vitro models to identify autoimmunity and immunostimulation hinder the market growth. On the contrary, rapid advancements in in vitro technologies and development of novel in vitro models are expected to create lucrative opportunities for the market players in the coming years.

The significant impacting factors include increase in demand for in vitro models as compared to in vivo models and screening of toxicity in early stages of drug development. Along with these factors, the market is influenced by the stringent government regulations towards the environment, increased global illicit drug abusers, enhanced efficiency of IVTT in cancer diagnosis, advancement in technologies of IVTT, and many others. However, each factor would have its definite impact on the market during the forecast period.

Absorption screening dominated the global in vitro toxicity testing market in 2015 and is expected to continue with its dominance throughout the forecast period. This can be attributed to the various applications of absorption screening pharmaceutical, cosmetics, and household products. However, toxic substances screening in IVTT is expected to be the fastest growing segment due to the increase in cases of lead poisoning and cancers that occur due to the mutation caused by the toxic chemicals, registering a CAGR of 15.85%.
Cosmetics and household products segment is the highest revenue contributor to this market owing to increase in adoption in various applications, such as to detect dermal toxicity, systemic toxicity, and ocular toxicity. However, food industry is expected to be the fastest growing segment owing to the high demand in U.S., China, and India, growing at a CAGR of 19.65%.

Presently, North America and Europe have the highest growth potential due to technological advancements and increased R&D initiatives in these regions. However, the market would gain traction in the developing regions of Asia-Pacific, due to the increase in urbanization & disposable income, rise in government funding, and growth in awareness about the advanced technologies. India and China are expected to be the fastest growing regions in the global in vitro toxicity testing market.

Key findings of In vitro Toxicity Testing Market:

• Cosmetics and household products segment is the highest revenue contributor throughout the analysis period.
• Food industry segment is estimated to exhibit a CAGR of 19.65%, among the end users.
• Asia-Pacific is expected to be the fastest growing segment during the forecast period.
• U.S. was the largest economy market in 2015 and is projected to maintain its lead until 2022.

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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