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Advancements in In Vitro Toxicity Testing to Bolster Demand in Global In Vitro Toxicity Testing Market
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Significant development in the toxicology science is considered one of the key trend that has provided a fillip in the global in vitro toxicity testing market. High costs allied with conventional animal tests and socio-ethical concerns relating to animal tests have boosted in vitro toxicity testing.
Moreover, rising use of other alternatives for toxicology and growing concerns to reduce animal testing services are some other factors that have accelerated demand in this market. Advancements taking place in in vitro toxicology testing to evaluate drugs product safety combined with assessment of potential effect of pharmaceuticals on tissues and cells are also expected to encourage revenue generation in this market.
On geographical front, North America is expected to lead the global in vitro toxicity testing market in the coming years. United States will be the key region due to increasing research and development activities in in vitro toxicity testing. Increasing demand for in vitro technologies and rising collaboration between local research laboratories and foreign pharmaceutical companies are expected to drive the demand in this market. Moreover, easy adoption of in vitro toxicity testing and rapid growth in innovation of drugs has also boosted the demand in this market. On the other hand, Asia Pacific is rising government support and increasing awareness about in vitro technologies is projected to fuel the market in this region.
In the competitive landscape section, the report has covered prominent vendors operating in the global in vitro toxicity testing market. In this particular market, leading vendors have strategic geographical presence with multiple production facilities across the globe. This has helped them getting stronger hold in the market and provided them a competitive edge in the market. Innovation, collaboration, partnership, mergers, and expansion are some of the most preferred business development strategies used by the vendors operating in this market. In addition, a new business model is introduced in the market named long tail business.
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As per the report, key layers operating in the global in vitro toxicity testing market are Sekisui XenoTech LLC, Charles River, GVK Biosciences Private Ltd., and Merck KGaA. Some of the other players in the market are Cyprotex plc, Accelrys, Inc., Quest Diagnostics Incorporation, MatTek Corporation, Molecular Toxicology Inc., Xenometrix AG, and Thermo Fisher Scientific.
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