Assistive Technology to Encapsulate the In Vitro Toxicology Testing Market

The In Vitro Toxicology Testing Market is expected to grow on a healthy note in the subsequent decade. With value-based care picking up, close to 15% of the entire population is under its umbrella as of now. Programs like "Online Bachelor's Degree in General Studies with a Concentration in Healthcare" is being floated, which could aid professionals to lead in the value-based care strategies.

In other words, the future belongs to professionals bringing conventional skills in communication, care, and leadership with new-fangled skills in analytics and technology. So, "being value-based" would hold value in the healthcare vertical in the future.

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In vitro toxicology testing is carried out to identify the potential toxicity of new compounds when they are at early stages of development during the discovery and development of new drugs. This type of testing is carried out to identity the presence or absence of certain toxins in drugs, agricultural chemicals and food additives.

There is a sharp increase in R&D procedures which require in vitro toxicology testing and this is boosting the growth of this market along with latest technological developments. Moreover, the ban on animal testing has led to the increasing adoption of in vitro toxicology testing and the governments all across the world are providing increased funding for such type of testing.

The global in-vitro toxicology testing market is slated to touch a value of about US$ 7,750 Mn in the year 2022 and grow at a robust CAGR during the assessment period.

Company Profiles:

SGS S.A.
Bio-Rad Laboratories, Inc.
Charles River Laboratories International, Inc.
Eurofins Scientific Se
GE Healthcare
Merck KGaA
Promega Corporation
Qiagen N.V.
Thermo Fisher Scientific, Inc
Cyprotex PLC
Others.

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4 Forecast Highlights on Global In Vitro Toxicology Testing Market

As per the forecast of Persistence Market Research, the services segment is slated to touch a value of nearly US$ 2,400 Mn in the year 2022. This represents a robust CAGR growth during the assessment period of 2017-2022. The services segment is estimated to account for nearly one-third of the revenue share of the product & services type segment by the year 2017 and is forecasted to gain market share by 2022 over 2017.

As per the forecast of Persistence Market Research, the biochemical assays segment will reach a value of about US$ 1,800 Mn in the year 2017. This represents a robust CAGR growth during the forecast period. The biochemical assays segment is forecasted to account for nearly one-third of the total revenue share of the method segment by the end of the year 2017 and is expected to lose in market share by 2022 as compared with the year 2017.

As per the forecast of Persistence Market Research, the pharmaceutical and biopharmaceutical industry segment is slated to reach a value of nearly US$ 3,500 Mn in 2022. The pharmaceutical and biopharmaceutical segment is expected to gain market share by the end of the year 2022. The largest share is contributed by the North American region in the pharmaceutical and biopharmaceutical segment.

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Persistence Market Research forecasts the cell culture technologies segment to exhibit a compound annual growth rate (CAGR) of 5% from 2017 to 2022.

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