In-Vitro Toxicology Testing Market to Get Rise with 7.1% CAGR by 2023 - QUEST DIAGNOSTICS, ALERE, GE HEALTHCARE, THERMO FISHER SCIENTIFIC, AGILENT TECHNOLOGIES, BIO-RAD LABORATORIES, EUROFINS SCIENTIFIC

The global in-vitro toxicology testing market is expected to witness a CAGR of 7.1%, during the forecast period. Europe holds the largest market share in in-vitro toxicology testing market.

Advances in Toxicology Testing Protocols
In vitro tests provide toxicity information in a cost-effective and timesaving manner. It is anticipated that rapid advances in biomedical sciences will result in development of newer and advanced in vitro test strategies for hazard characterization. Toxicity testing is gradually moving towards excellence with various advanced technologies. It is currently poised to take advantage of promising revolutions from the field of biotechnology. The applications of toxicity testing are set to increase with advances in biotechnology, resulting in demand in the market for the same.

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The advances in toxicity testing practices, such as bioinformatics, computational toxicology, epigenetics, etc. hold the potential for a paradigm shift from whole-animal testing to in-vitro methods that evaluate changes in various processes, which use cell lines and other cellular components. A number of emerging fields and techniques are contributing new major insights for understanding biologic responses to chemicals in human tissues. This advances are expected to drive the growth of in-vitro toxicology market in the forecast period.
The other factors, such as opposition to the usage of animals in pre-clinical research, along with advancements in the field of bioinformatics are expected to contribute to the growth of in-vitro toxicology testing market.

Key Developments in the Market
February 2018: SenzaGen has signed its first global licensing agreement with Eurofins Biopharma product testing munich, this agreement is expected to create new opportunities for the in-vitro toxicology testing market

Major Players:
QUEST DIAGNOSTICS, ALERE INC, GE HEALTHCARE, THERMO FISHER SCIENTIFIC, AGILENT TECHNOLOGIES, BIO-RAD LABORATORIES, EUROFINS SCIENTIFIC, COVANCE, PROMEGA CORPORATION, MERCK KGAA, among others.

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Stringent Regulatory Framework for the In-vitro Tests
The screening process is quite stringent for the approval of any healthcare molecule. Toxicity study is the stage where many molecules fail and are barred from entering into the market. In-vitro toxicology testing as an alternative to animal testing is by default always under the lens, as it is intended to replace a fully approved method for toxicity study (animal testing). This is because in-vitro toxicology testing has to match closely to the standards from the in-vivo animal testing. Regulators, including the United States Food and Drug Administration (FDA), have issued guidance with regard to in vitro studies to be conducted during drug development. However, current regulatory guidance does not address specific study designs for in vitro toxicity testing. The experimental procedures and documentation of data for in vitro testing should be rigorous, reproducible, with specific analytical methods, along with documentation of assay procedures and results. Therefore these stringent regulations are acting as a barrier for the growth of in-vitro toxicology testing market globally.
Other factors such as incapability of in vitro models to determine autoimmunity and immuno stimulation is also acting as a major restraint for the global market.

Asia-Pacific is expected to grow with High CAGR
The Asia-Pacific is expected witness the highest CAGR during the forecast period due to the low costs offered by the Asian countries to conduct studies.

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This release was published on openPR.