Global Medical In-Vitro Toxicology Testing Market Is Predicted To Propel Owing To Technological Advancements: Ken Research
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On the basis of types, the global medical in-vitro toxicology testing market is classified into cell culture technology, high throughput technology, molecular imaging technologies, and omics technologies. On the basis of applications, the global medical in-vitro toxicology testing market is categorized into pharmaceutical industry, chemical industry, food industry and several others. The pharmaceutical industry segment registered the market for in-vitro toxicology testing and registered for the largest revenue share during the recent past years. The high utilization of toxicology testing in pharmacokinetic analysis of novel and generic adapted pharmaceutical products results in the revenue growth of these toxicity testing assays. Moreover, the existence of countless drug candidates in the pipeline is predicted to propel the requirement for in-vitro toxicology testing.
Growth in this market is propelled majorly by the opposition to animal testing, technological innovations, and growing R&D expenditure to detect toxicity at an early stage throughout the drug development.
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In addition, the significant advancements in toxicology science are one of the primary aspects driving the market. Also, high costs linked with conventional animal tests and socio-ethical concerns linked with animal tests are predicted to boost the growth of the market for in-vitro toxicology testing.
Not only has this, the significant innovations in in-vitro toxicology assays to appraise drug product safety along with the assessment of the probable effect of pharmaceuticals on cells and tissues are projected to bolster revenue generation in the market. With an increment in the requirement for such assays, companies have widened their portfolio to serve requirement in the market for in-vitro toxicology testing.
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The in vitro toxicology testing market in the Asia Pacific is projected to augment at the highest CAGR during the review period. This is owing to the emergence of CROs for outsourcing toxicology-related research projects, hostility to animal testing resulting in the usage of alternate approaches, growing pharmaceutical drug pipeline, and increasing consumer awareness of product safety, all of which are propelling implementation of in vitro toxicology testing across the Asia Pacific. Therefore, it is predicted that the market of medical in-vitro toxicology testing will increase around the globe more actively over the near future.
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Ankur Gupta, Head Marketing & Communications
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